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Day: February 7, 2019
February 72019
Japanese Yen Rises As Abe Celebrates BOJ Success
The Japanese yen is making gains against a handful of currencies towards the end of the trading week. Currency investors appear to be bullish on the federal governmentâs positive tone on the Bank of Japan (BOJ)âs success in the economy. Traders are also sifting through recent reserve data, which showed a dramatic rise from the same time a year ago. Prime Minister Shinzo Abe delivered an address to the parliament on Wednesday in which he celebrated the central […]
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February 72019
Pound Falls on Brexit Jitters and BoE Decision, Rallies on Carney Speech
The Sterling pound today dropped below 2-week lows in the early London session as investors priced-in Brexit uncertainty ahead of a crucial meeting between Theresa May and the European Commission President. The GBP/USD currency pair dropped to new 2.5-week lows following the Bank of England‘s interest rate decision in the mid-European session. The GBP/USD currency pair today dropped to a low of 1.2855 following the BoE rate decision before rallying to a high of 1.2997 on Mark Carney‘s […]
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February 72019
Euro Extends Decline Driven by Weak Growth Forecasts and Data
The euro today extended its decline against the US dollar as investors reacted to more disappointing releases from Germany, which is the EU’s largest economy. The divergence in economic growth trajectories between the US and the EU continues to weigh on investor sentiment towards the EUR/USD currency pair affecting its performance. The EUR/USD currency pair today fell from an opening high of 1.1368 to hit a low of 1.1330 in the mid-European session. The currency pair traded […]
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February 72019
EUR/USD Extends Decline After Downgrade of Growth Forecasts
EUR/USD extended its decline for the fourth consecutive session today after the European Commission downgraded its growth forecasts. Poor macroeconomic data from the eurozone also weighed on the currency pair. Initial jobless claims fell from 253k to 234k last week. That is compared to the average forecast of 220k. (Event A on the chart.) Consumer credit rose by $16.5 billion in December, matching market expectations, after increasing $22.4 billion in November. […]
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