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Forex News
November 282016
Rand Climbs as South Africa’s Credit Ratings Preserved
The South African rand rallied more than 1% at the start of the current trading week after rating agencies maintained South Africa’s credit grade at the end of the last week. Fitch Ratings and Moody’s Investors Service kept the sovereign credit rate above the junk level, but both services had a negative outlook. They cited political uncertainty among reasons for the pessimistic view. Yet for now, South Africa keeps its investment […]
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November 262016
Dollar Mixed During Abbreviated Holiday Week
The US dollar was mixed during the past week. Abbreviated trading and absence of any big news meant that there was no change for the market sentiment and fundamentals remained the same for the US currency. Thanksgiving in the United States resulted in thin trading in the second half of this week. Meanwhile, the greenback continued to be driven by anticipation of an interest rate hike from the Federal Reserve in December, and the Fed’s minutes released this week reinforced […]
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November 262016
Dollar Mixed During Abbreviated Holiday Week
The US dollar was mixed during the past week. Abbreviated trading and absence of any big news meant that there was no change for the market sentiment and fundamentals remained the same for the US currency. Thanksgiving in the United States resulted in thin trading in the second half of this week. Meanwhile, the greenback continued to be driven by anticipation of an interest rate hike from the Federal Reserve in December, and the Fed’s minutes released this week reinforced […]
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November 252016
US Dollar Falls as Traders Anticipate Exchange Rate Correction
The dollar dropped against all of its major peers today as traders collected profits from the US currencyâs strong rally that began once Donald Trump became the latest US President-elect. Trading volumes were thin on Friday after the Thanksgiving holiday in the United States. The dollar touched its strongest level in 14 years earlier this week on increased investorsâ confidence that Trumpâs administration will boost fiscal spending […]
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November 252016
US Dollar Falls as Traders Anticipate Exchange Rate Correction
The dollar dropped against all of its major peers today as traders collected profits from the US currencyâs strong rally that began once Donald Trump became the latest US President-elect. Trading volumes were thin on Friday after the Thanksgiving holiday in the United States. The dollar touched its strongest level in 14 years earlier this week on increased investorsâ confidence that Trumpâs administration will boost fiscal spending […]
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November 252016
Yen Mixed as Deflation Persists
The Japanese yen was mixed today, falling against some currencies and rising versus others (though still touching multi-month lows intraday). Fundamentals were not supportive for the currency as economic data showed that deflation persists despite efforts of policy makers. Japan’s core Consumer Price Index fell 0.4% in October, matching forecasts but with a bit slower pace than in September (0.5%). The Tokyo core CPI also […]
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November 252016
Yen Mixed as Deflation Persists
The Japanese yen was mixed today, falling against some currencies and rising versus others (though still touching multi-month lows intraday). Fundamentals were not supportive for the currency as economic data showed that deflation persists despite efforts of policy makers. Japan’s core Consumer Price Index fell 0.4% in October, matching forecasts but with a bit slower pace than in September (0.5%). The Tokyo core CPI also […]
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November 252016
Positive Data Doesn’t Prevent Fall of Britain’s Pound
The Great Britain pound traded lower against other major currencies (with the exception of the US dollar) during today’s trading session despite solid macroeconomic data released from the United Kingdom on Friday. The second estimate of Britain’s gross domestic product showed growth by 0.5% between the second quarter and the third quarter of 2016, unrevised from the first estimate and in line with expectations. The Index of Services was up 0.8% in the third quarter […]
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November 252016
Positive Data Doesn’t Prevent Fall of Britain’s Pound
The Great Britain pound traded lower against other major currencies (with the exception of the US dollar) during today’s trading session despite solid macroeconomic data released from the United Kingdom on Friday. The second estimate of Britain’s gross domestic product showed growth by 0.5% between the second quarter and the third quarter of 2016, unrevised from the first estimate and in line with expectations. The Index of Services was up 0.8% in the third quarter […]
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November 242016
British Pound Appreciates on Mortgage Approvals Growth
The British pound was pushed higher against the US dollar today after data released on Thursday revealed an increase in the United Kingdomâs mortgage approvals. The British Bankersâ Association, a trade association that represents UK banking and financial services sector, said in a report earlier today that mortgage approvals for house purchases rose for the second month in a row last October. Mortgage approvals increased by 40,851 in October, surpassing an estimated increase by 39,000 […]
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