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Forex News
July 42018
Euro Heads Lower on Mixed PMI Data from Across the Eurozone
The euro today headed lower against the US dollar in the early European session following the release of mixed Eurozone PMI data by IHS Markit. The euro’s decline drove the EUR/USD currency pair lower as the US dollar recovered from its slump that occurred in the Asian session. The EUR/USD currency pair today declined from a high of 1.1681 to a low of 1.1629 driven by the US dollar’s rebound. The currency pair today headed lower despite […]
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July 32018
British Pound Rallies Higher on Upbeat UK Construction PMI Data
The Sterling pound today rallied higher against the US dollar following the release of upbeat Markit/CIPS UK Construction PMI data in the early European session. The pound’s rally drove the GBP/USD currency pair higher even as uncertainty loomed over the Brexit negotiations. The GBP/USD currency pair today rallied from a low of 1.3114 to a high of 1.3207, but was on a downtrend at the time of writing. The currency pair rallied higher after the release of the Markit/CIPS UK […]
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July 32018
British Pound Rallies Higher on Upbeat UK Construction PMI Data
The Sterling pound today rallied higher against the US dollar following the release of upbeat Markit/CIPS UK Construction PMI data in the early European session. The pound’s rally drove the GBP/USD currency pair higher even as uncertainty loomed over the Brexit negotiations. The GBP/USD currency pair today rallied from a low of 1.3114 to a high of 1.3207, but was on a downtrend at the time of writing. The currency pair rallied higher after the release of the Markit/CIPS UK […]
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July 22018
US Dollar Emerges as Strongest Currency Courtesy of Trade War Fears
The US dollar emerged as the strongest currency on the Forex market today after trade war tensions continued to escalate as US President Donald Trump chose the European Union as the new target for his criticism of unfair trade deals. While previously Trump was chastising mostly China, he said in an interview yesterday: The European Union is possibly as bad as China, just smaller. It’s terrible what they do to us. But the mean […]
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July 22018
US Dollar Emerges as Strongest Currency Courtesy of Trade War Fears
The US dollar emerged as the strongest currency on the Forex market today after trade war tensions continued to escalate as US President Donald Trump chose the European Union as the new target for his criticism of unfair trade deals. While previously Trump was chastising mostly China, he said in an interview yesterday: The European Union is possibly as bad as China, just smaller. It’s terrible what they do to us. But the mean […]
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July 22018
Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases
The euro today traded lower against the US dollar amid the deepening of the political crisis in Germany as the Interior Minister Horst Seehofer threatened to resign. The release of mixed Eurozone PMIs by IHS Markit in the early European session could not reverse the pair’s downtrend as the US dollar gained ground over the single currency. The EUR/USD currency pair today declined from an opening high of 1.1678 to a low of 1.1596 and was on a downtrend at the time of writing. The currency […]
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July 22018
Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases
The euro today traded lower against the US dollar amid the deepening of the political crisis in Germany as the Interior Minister Horst Seehofer threatened to resign. The release of mixed Eurozone PMIs by IHS Markit in the early European session could not reverse the pair’s downtrend as the US dollar gained ground over the single currency. The EUR/USD currency pair today declined from an opening high of 1.1678 to a low of 1.1596 and was on a downtrend at the time of writing. The currency […]
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July 22018
Good Manufacturing PMI Unable to Prevent Sterling from Falling
The Great Britain pound fell today despite the manufacturing data that was above expectations. Traders were still concerned that the United Kingdom and the European Union may not reach a Brexit deal before the UK officially severs ties with the EU. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose a bit to 54.4 in June from 54.3 in May (revised negatively from the original reading of 54.4). […]
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July 22018
Good Manufacturing PMI Unable to Prevent Sterling from Falling
The Great Britain pound fell today despite the manufacturing data that was above expectations. Traders were still concerned that the United Kingdom and the European Union may not reach a Brexit deal before the UK officially severs ties with the EU. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose a bit to 54.4 in June from 54.3 in May (revised negatively from the original reading of 54.4). […]
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July 22018
Australian Dollar Trades Weakest on Monday
The Australian dollar was the weakest currency on the Forex market during the current trading session, falling against all other most-traded rivals. The most likely reason for that was the persisting fears of trade wars between the United States and their trading partners. Macroeconomic releases on the weekend and Monday were mixed, giving the currency no reason to go in one direction or the other. The Manufacturing Index released by Australia Industry Group fell from 57.5 […]
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