Day: January 16, 2019

January 16
2019

Sterling Range Bound on Mixed UK Data Before Leadership Vote

The Sterling pound today traded in a range as investors recovered from yesterday’s crazy swings following the historic Brexit vote. The GBP/USD currency pair was largely immune to most of the data released from the UK docket as investors remained cautious ahead of a Parliamentary no-confidence vote against Theresa May. The GBP/USD currency pair today traded between a high of 1.2896 and a low of 1.2824 and was within this range at the time of writing. The cable was […]

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January 16
2019

Canadian Dollar Rises on Soft US Inflation, Crude Supply Contraction

The Canadian dollar is rising midweek after the US government reported soft inflation levels. The loonie is also getting a lift on market expectations that US crude oil inventories will record a contraction. This comes as market sentiment pertaining to the short-term health of the currency is split. On Tuesday, the producer price index (PPI) fell 0.2%, beating market projections of 0.1%. The wholesale costs of goods slipped 0.4%, driven by the steep 13% […]

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January 16
2019

EUR/USD Declines for Fourth Day in Five

EUR/USD declined today, falling for the fourth session in five. Some market analysts explained the gains of the dollar against the euro by rising Treasury yields, while others pointed at the pessimistic outlook for the eurozone economy as the reason for the decline of the currency pair. Both import and export prices fell in December. Import prices declined 1.0% following the 1.9% drop in November. Analysts had expected a bigger decrease by 1.3%. Export prices fell 0.6% following the 0.8% […]

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