Day: January 17, 2019

January 17
2019

Pound Trades Strongest After Theresa May Wins Confidence Vote

The Great Britain pound was the strongest major currency on the Forex market during Thursday’s trading after UK Prime Minister Theresa May won the confidence vote on Wednesday. The opposition Labor Party leader Jeremy Corbyn tabled a no-confidence motion after May suffered in resounding defeat in the voting for her Brexit plans. May’s government managed to win with 325 to 306 votes. After the victory, the Prime Minister offered members of the Parliament […]

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January 17
2019

Japanese Yen Rises As BOJ Keeps Rosy Economic Picture

The Japanese yen is gaining against its major currency rivals on Thursday as reports suggest that the Bank of Japan (BOJ) will maintain a bright view of the national economy, despite a myriad of factors suggesting that Tokyo is expected to record disappointing data. According to Reuters, citing sources close to the situation, the Japanese central bank is expected to slash its inflation forecasts during next week’s policy rate review. This […]

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January 17
2019

Euro Trades Sideways Despite In-Line Eurozone Inflation Data

The euro today traded in a tight range against the US dollar amid a market that was largely stable and lacked volatility. The release of upbeat data from the US docket in the early American session saw the EUR/USD currency pair come under intense selling pressure. The EUR/USD currency pair today traded in a range marked by a high of 1.1407 and a low of 1.1370 and was still within this range at the time of writing. The currency pair was […]

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January 17
2019

EUR/USD Little Changed Despite Disappointing Eurozone Inflation, Positive US Data

EUR/USD was little changed today even after the inflation print released in the eurozone came out below expectations (event A on the chart), while US macroeconomic indicators surprised positively. Philadelphia Fed manufacturing index jumped from the revised reading of 9.1 in December to 17.0 in January. Analysts had predicted a much smaller increase to 9.7. (Event B on the chart.) Initial jobless claims fell from 216k to 213k last week instead […]

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