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Day: December 17, 2018
December 172018
Pound Soft As Brexit Vote Delayed till January, Prime Minister Faces No-Confidence Vote
The Great Britain pound fell against most other major currencies today, with the US dollar being an exception. Lingering Brexit concerns and political turmoil in the United Kingdom diminished the sterling’s attractiveness to traders. UK Prime Minister Theresa May delayed the Parliament vote on her Brexit plans till January 14. May basically admitted that she would lose the vote. That did not sit well with the opposition, […]
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December 172018
Japanese Yen Strengthens Despite Growth Risks, Flat Business Sentiment
The Japanese yen is strengthening against its major rivals to start the trading week. Despite a wide array of factors that should send the currency lower, the yen is continuing momentum from the five sessions. With bitter trade discussions on the horizon, can Tokyo prevent further economic declines in the aftermath of the string of natural disasters? At this weekâs policy meeting, the Bank of Japan (BOJ) is expected to warn of rising growth risks […]
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December 172018
US Dollar Retreats from Friday’s Elevated Levels, Economic Data Hurts
The US dollar opened at Friday’s elevated levels but has declined versus most of its major rivals by now. It looks like uncertainty associated with this week’s policy announcement from the Federal Reserve hit the currency after all. Domestic macroeconomic data, being poor, was not helping the greenback. The New York Empire State Manufacturing Index dropped to 10.9 in December from 23.3 in November. Experts had […]
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December 172018
Canadian Dollar Falls, Declining Foreign Securities Purchases Weigh
The Canadian dollar was falling against its major rivals today, even against the US dollar, which itself was vulnerable. The loonie extended losses after the release of poor macroeconomic data in Canada. Foreign investment in Canadian securities was at C$4.0 billion in October, down from C$7.8 billion in September. Analysts had predicted a far higher value of C$6.2 billion. At the same time, Canadian investment in foreign securities increased to C$14.9 […]
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December 172018
Last Week Before Holidays Can Be Crucial for US Dollar
The last week before holidays has potential to become crucial in determining the dollar’s performance in the near future. The policy meeting of the Federal Reserve will be the highlight of the week, but important economic reports scheduled for release on Friday can also affect the currency. The past week was extremely positive for the US dollar due to risk aversion caused by signs of slowing global growth. Furthermore, the US Dollar Index started the current week at 97.44, […]
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December 172018
EUR/USD Rallies Ahead of Wednesday’s FOMC Policy Decision
EUR/USD rallied today as the US dollar was soft ahead of the monetary policy announcement from the Federal Open Market Committee on Wednesday. The outlook for the greenback remained largely bullish, though. NY Empire State Index slumped from 23.3 in November to 10.9 in December, whereas analysts had expected a much higher figure of 20.1. (Event A on the chart.) Net foreign purchases were at $31.1 billion in October, up from $30.8 billion in September. […]
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