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Day: July 23, 2019
July 232019
Euro Crashes to 7-Week Lows As the US Dollar Surges Higher
The euro today fell against the US dollar for the third consecutive session as investors trimmed their expectations of a massive rate cut by the Fed boosting the greenback. The EUR/USD currency pair was also affected by market expectations of the announcement of further monetary easing policies by the ECB later this week. The EUR/USD currency pair today fell from an opening high of 1.1208 to a low of 1.1147 in the American session and was trading near these lows at the time […]
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July 232019
Pound Recovers As Boris Johnson Becomes PM, Capped by Bearish Data
The British pound is rallying on Tuesday after it was confirmed that former London Mayor Boris Johnson would become Britainâs new prime minister. In addition to a higher pound, European markets appeared to cheer on the pro-Brexit politician as leading indexes recorded 1% gains. But that did not prevent disappointing data from capping the currencyâs ascent. Shortly after Prime Minister Theresa May announced that she […]
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July 232019
EUR/USD Sinks After USA Increase Debt Ceiling
EUR/USD sank on Tuesday. Market analysts explained the drop by the agreement between US President Donald Trump and the Congress to raise the debt ceiling. The trading session was light in terms of US data, and those reports that were released were universally bad. Richmond Fed manufacturing index sank from 2 in June to â12 in July, reaching the lowest reading since January 2013. That was a complete surprise to experts who had […]
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