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Day: January 15, 2019
January 152019
Pound Jumps After May Suffers Resounding Defeat in Brexit Vote
As was expected UK Prime Minister Theresa May suffered a defeat in the crucial Brexit vote. Yet apparently, traders used “sell the rumor, buy the fact” approach for the Great Britain pound as the currency jumped on the news. As was widely expected, the Parliament rejected May’s “Withdrawal Agreement” approved by the European Union leaders. The defeat was resounding, with 432 MPs voting against the agreement and just 202 voting in favor of the deal. The Prime Minister […]
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January 152019
Euro Declines on 5-Year Low German GDP Data and Dovish Draghi
The euro today dropped significantly against the US dollar from the early European session after attempting to rally higher during the Asian session. The single currency’s decline was initially triggered by the US dollar’s rebound before the weak German GDP data caused it to crash to new weekly lows. The EUR/USD currency pair today dropped from a high of 1.1490 to a low of 1.1385 following Draghi’s speech. The currency pair’s initial decline […]
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January 152019
US Dollar Weakens As Wholesale Inflation Falls
The US dollar is trading lower against its major currency rivals on Tuesday after new US government data found that wholesale inflation declined at the end of 2018, recording its biggest drop in five months. The greenback is also tumbling on a variety of comments from the experts warning about the government shutdownâs impact on the US economy. In December, the producer price index (PPI) slipped 0.2%, beating median estimates of 0.1%, […]
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January 152019
EUR/USD Crashes as German Economy Slows, Brexit Vote Starts
EUR/USD crashed today. There were a couple of likely causes of the crash: slowing growth of the German economy and the Brexit vote in the British parliament. The currency pair tumbled even as US macroeconomic data was disappointing. Talking about US data, there will be fewer releases than usual in the near future due to the US government shutdown. For example, the retail sales report that should have been released tomorrow will not […]
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