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Day: May 16, 2019
May 162019
Euro Falls to 9-Day Lows on Trade Concerns and Positive US Data
The euro today fell to 9-day lows against the US dollar in the American session following the release of upbeat US data and a rally in US equity markets. The EUR/USD currency pair attempted to rally earlier today following upbeat trade headlines regarding the eurozone, but the rally quickly fizzled out. The EUR/USD currency pair today fell from a high of 1.1224 in the early European session to a low of 1.1171 in the American session and was near these […]
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May 162019
Mexican Peso Weakens Despite Nearing Repeal of US Steel Tariffs
The Mexican peso is weakening against several major currencies toward the end of the trading week. Despite senior officials claiming that they are close to striking a deal that would see the US repeal its tariffs on steel and aluminum from Mexico, the peso was unable to take advantage. This could show that traders are more concerned about its fledgling economy and the political turmoil that has unfolded […]
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May 162019
Australian Dollar Falls After Unemployment Rate Rises
The Australian dollar fell today following the release of employment data. While the report had both positive and negative parts, markets preferred to focus on the negative ones. Additionally, the monetary policy outlook worsened. The Australian Bureau of Statistics reported that the number of employed people rose by 28,400 in April, which exceeded the consensus forecast of a 15,200 increase. But the growth was due to part-time jobs, while the number of full-time jobs decreased. The participation rate […]
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May 162019
EUR/USD Fails to Maintain Rally
EUR/USD attempted to rally today but failed and is now trading below the opening level. The euro got temporary boost from the news that the United States will delay implementing new tariffs on European cars, but concerns about the upcoming European parliamentary elections and the Italian budget issue pushed the shared 19-nation currency lower. Positive US macroeconomic data also weighed on the currency pair. Housing starts were at the seasonally […]
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