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Day: February 26, 2019
February 262019
US Dollar Mixed on Housing Data, Fed Testimony
The US dollar is mixed on Tuesday as housing data and congressional testimony from the central bank head weigh on the greenback. The buckâs short-term performance will rely heavily on the wave of data coming through the pipe this week â at home and abroad. According to the US Census Bureau, construction on new houses tumbled 11% in December to an annual rate of 1.08 million, a two-year low. The market had penciled in housing starts to reach 1.23 million […]
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February 262019
Euro Whipsaws Against US Dollar Buffeted by Different Triggers
The Euro today traded in a directionless manner against the US dollar swinging between 20-day highs and daily lows in reaction to different triggers. The ER/USD currency pair today rose to new highs following the release of weak US housing data before falling and rising again. The EUR/USD currency pair today whipsawed between a high of 1.1376 and a low of 1.1344 in reaction to different fundamental headlines that triggered shifts in investor sentiment. The currency pair […]
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February 262019
EUR/USD Retains Strength After US Data, Powell’s Testimony
EUR/USD gained today. The currency pair rallied after disappointing macroeconomic reports in the United States. Wile the EUR/USD pair dipped after several positive US releases and the testimony of Federal Reserve Chairman Jerome Powell, it has managed to regain its strength by now. Housing starts were at the seasonally adjusted annual rate of 1.08 million in December, down from the revised November estimate of 1.21 million (1.26 million before the revision). […]
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February 262019
Canadian Dollar Follows Crude Oil in Decline
While most riskier commodity-geared currencies were rallying today, the Canadian dollar declined. With absence of other apparent reasons, market analysts pointed at the drop of crude oil prices as the most likely reason for the currency’s decline. Crude oil fell about 3% on Monday. Market analysts speculated that the reason for the huge slump was the tweet from US President Donald Trump, which urged the Organization of Petroleum Exporting Countries to prevent […]
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