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Forex News
December 72016
Sterling Drops, Hurt by Britain’s Manufacturing Data
The Great Britain pound dropped today as the surprisingly poor manufacturing report hurt the currency’s appeal to investors, overshadowing decent housing data. Britain’s manufacturing production fell 0.9% in October from the previous month while industrial production declined as much as 1.3%. Analysts totally missed the mark with their forecasts of a 0.2% increase. Meanwhile, the similar forecasts for the Halifax House Price Index proved to be correct (it indeed rose 0.2% […]
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December 72016
US Dollar Remains Steady on Anticipation for ECB Policy Decision
The dollar remained little changed against the euro on Wednesday, as traders braced for a monetary policy decision from the European Central Bank on Thursday. The bankâs decision might bring increased quantitative easing to the European Union. The European Central Bank holds a meeting tomorrow, with expectations generally pointing to an extension for its quantitative easing program. However, traders are still uncertain whether the bank will maintain its monthly asset purchases at the same […]
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December 72016
US Dollar Remains Steady on Anticipation for ECB Policy Decision
The dollar remained little changed against the euro on Wednesday, as traders braced for a monetary policy decision from the European Central Bank on Thursday. The bankâs decision might bring increased quantitative easing to the European Union. The European Central Bank holds a meeting tomorrow, with expectations generally pointing to an extension for its quantitative easing program. However, traders are still uncertain whether the bank will maintain its monthly asset purchases at the same […]
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December 72016
Australia Dollar Drops After Economy Declines
The Australian dollar fell today after economic data revealed that Australia’s economy contracted unexpectedly in the third quarter of this year. Australia’s gross domestic product declined 0.5% (seasonally adjusted) in the September quarter of 2016 from the previous three months. The actual reading was far worse than the increase by 0.2% predicted by analysts. It is interesting to note that the Reserve Bank of Australia expected slower growth (though not […]
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December 72016
Australia Dollar Drops After Economy Declines
The Australian dollar fell today after economic data revealed that Australia’s economy contracted unexpectedly in the third quarter of this year. Australia’s gross domestic product declined 0.5% (seasonally adjusted) in the September quarter of 2016 from the previous three months. The actual reading was far worse than the increase by 0.2% predicted by analysts. It is interesting to note that the Reserve Bank of Australia expected slower growth (though not […]
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December 62016
British Pound Gives up Earlier Gains Against US Dollar
The British pound erased its earlier gains after the currency moved higher against the US dollar on Tuesday. Mixed sentiments between traders followed a legal case that is presented in front of the Supreme Court of the United Kingdom, which might delay the nationâs departure from the European Union. The Supreme Court started hearing the British governmentâs appeal over its ability to trigger Article 50 without needing a parliamentary approval. The government […]
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December 62016
British Pound Gives up Earlier Gains Against US Dollar
The British pound erased its earlier gains after the currency moved higher against the US dollar on Tuesday. Mixed sentiments between traders followed a legal case that is presented in front of the Supreme Court of the United Kingdom, which might delay the nationâs departure from the European Union. The Supreme Court started hearing the British governmentâs appeal over its ability to trigger Article 50 without needing a parliamentary approval. The government […]
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December 62016
US Dollar Remains Stable Against Euro as Traders Brace for Upcoming Policy Meetings
The US dollar had a tight range of movement against the euro on Tuesday, as currency traders anticipated upcoming monetary policy meetings in major economies. The Governing Council of the European Central Bank meets in Frankfurt on Thursday to decide its future monetary policy. While the Federal Open market Committee gathers next week in a meeting that is expected to end with a decision to raise interest rates in the United States. Following a drop against the shared […]
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December 62016
US Dollar Remains Stable Against Euro as Traders Brace for Upcoming Policy Meetings
The US dollar had a tight range of movement against the euro on Tuesday, as currency traders anticipated upcoming monetary policy meetings in major economies. The Governing Council of the European Central Bank meets in Frankfurt on Thursday to decide its future monetary policy. While the Federal Open market Committee gathers next week in a meeting that is expected to end with a decision to raise interest rates in the United States. Following a drop against the shared […]
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December 62016
Turkish Lira Jumps Against US Dollar
The Turkish lira climbed against the US dollar today, easing the pressure on the nation’s central bank to act in defense of the currency and its inflation goal. Analysts speculate that the weakening lira increases upward risks to inflation, which have already prompted the Central Bank of the Republic or Turkey to increase interest rates in November. Turkish President Recep Tayyip Erdogan called for protection of the currency, claiming that its drop was the result of efforts from […]
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