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Forex News
June 252018
Euro Trades Sideways on Mixed German IFO Survey Data
The euro today rallied slightly higher after the release of the German IFO business climate index for June, which matched expectations. The euro opened today’s session on a downtrend even as the selling pressure on the single currency increased due to the ongoing trade tensions between the US, China and the European Union. The EUR/USD currency pair today traded in a sideways range marked by a high of 1.1669 and a low of 1.1629, but was looking to break higher at the time of writing. […]
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June 232018
Canadian Dollar Ends Week Soft, Hurt by Trade War Threat
The Canadian dollar ended the week soft, mainly due to risk aversion caused by the threat of trade wars. Underwhelming domestic macroeconomic data hurt the Canadian currency for a short while, but it recovered quickly. It looked like trade dispute between the United States and its allies, including the European Union, as well as China was intensifying. US protectionism is bad news for Canada, which heavily depends on trade with its […]
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June 222018
Canadian Dollar Declines on Weak Retail Sales and CPI Data
The Canadian dollar today dropped drastically against the US dollar following the release of the latest Canadian Consumer Price Index data, which missed expectations by a huge margin. The loonie’s massive drop drove the USD/CAD currency pair to new 2018 highs as it was further accelerated by the weak Canadian retail sales data also released today. The USD/CAD currency pair today rallied from a low of 1.3259 to a high of 1.3381 gaining over […]
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June 222018
Yen in Red, Ignoring Positive Data
The Japanese yen was in red against basically all other most-traded currencies today despite relatively positive domestic macroeconomic data. Some market analysts explained the weakness by rising global bond yields. Japan’s core Consumer Price Index rose 0.7% in May, year-on-year, the same as in April and within expectations. While it was nice to see inflation stabilize after two months of slowdown, the consumer price growth was still […]
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June 222018
Euro Rallies Higher on Greece Bailout Deal and Upbeat Eurozone PMIs
The euro today rallied higher against the US dollar after finance ministers from across the Eurozone reached an agreement regarding Greece’s final bailout. The euro’s rally was further complemented by the release of positive PMI data from across the Eurozone by IHS Markit and in-line French GDP data. The EUR/USD currency pair today rallied from a low of 1.1599 to a high of 1.1674 in the early European session, but was on a downtrend at the time of writing. […]
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June 212018
Canadian Dollar Soft, Recovers vs. US Dollar
The Canadian dollar fell against other most-traded currencies today, though managed to recover versus the US dollar by now. The currency was under pressure from a range of negative factors, including falling prices for crude oil, trade tensions with the United States, and underwhelming domestic macroeconomic data. Automatic Data Processing reported that Canada’s employment increased by 2,905 jobs in May — a far smaller number than 15,100 registered in April, […]
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June 212018
Swiss Franc Firm, Undisturbed by Dovish SNB
The Swiss franc gained on most other major currencies, with the exception of the Great Britain pound, which got a boost from the relatively hawkish stance of the Bank of England. The outlook expressed by Switzerland’s own central bank was far less optimistic, but that did not prevent the Swissie from rising. The Swiss National Bank kept interest rates unchanged at today’s policy meeting, as was widely expected. The interest on sight deposits […]
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June 212018
NZ Dollar Falls As New Zealand Economic Growth Slows
The New Zealand dollar fell today after a report showed that the New Zealand economic growth slowed last quarter. The currency managed to trim losses by now, erasing them against the US dollar entirely. Statistics New Zealand reported that gross domestic product rose 0.5% in the March quarter of 2018 from the previous three months. It was a slower rate of growth than 0.6% registered in the December quarter of 2017 […]
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June 212018
Sterling Pound Rallies Higher on BoEâs Hawkish Interest Rate Decision
The British pound today rallied higher against the US dollar after the Bank of England announced its monetary policy decision with more members than before voting for a rate hike. The pound had traded lower following the release of the disappointing UK public sector finances report for May early in the European session. The GBP/USD currency pair today rallied from a low of 1.3103 to a high of 1.3258 after the BoE rate decision, which […]
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June 202018
Great Britain Pound Strong Ahead of Thursday’s Policy Decision
The Great Britain pound rose against its major rivals today ahead of tomorrow’s monetary policy decision. Today’s domestic macroeconomic data was positive to the currency. The Confederation of British Industry released its Industrial Trend Survey today, showing that the balance of industrial order expectations improved to +13% in June from -3% in May, beating the median forecast of just +1%. Tomorrow, the Bank of England will announce its decision regarding […]
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