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Forex News
November 182016
Great Britain Falls, Heads to Weekly Gains
The Great Britain pound fell today against its major peers, though it was heading to weekly gains against most currencies (with the exception of the very strong US dollar). The sterling continued to recover from the “flash crash” that has happened on October 7. While the currency fell sharply to new multi-year lows, it has recovered very quickly, leaving market participants puzzled and guessing about reasons for such […]
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November 182016
Euro Slips Against US Dollar as Draghi Supports Monetary Stimulus
The euro is set to continue its strike of losses against the US dollar on Friday, which would mark its 10th day of declines. The shared currency lost all its momentum against the greenback as Donald Trumpâs win in the presidential election was followed by a stream of positive data in the USA, at a time when the Eurozone economy remained relatively fragile. The euro lost more support today as European Central Bank President Mario Draghi […]
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November 182016
Euro Slips Against US Dollar as Draghi Supports Monetary Stimulus
The euro is set to continue its strike of losses against the US dollar on Friday, which would mark its 10th day of declines. The shared currency lost all its momentum against the greenback as Donald Trumpâs win in the presidential election was followed by a stream of positive data in the USA, at a time when the Eurozone economy remained relatively fragile. The euro lost more support today as European Central Bank President Mario Draghi […]
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November 182016
Turkish Lira Hits Record Low as Markets Anticipate Fed Hike
The Turkish lira fell today, hitting a record low, as the hawkish outlook for Federal Reserve’s monetary policy and the resulting strength of the US dollar led to weakness of emerging markets’ assets. Fed Chairwoman Janet Yellen testified yesterday, and markets considered her comments as a signal that an interest rate hike is coming. CME FedWatch page shows 90% probability of a hike in December. Moreover, there is a 50% change of another hike in June […]
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November 182016
Turkish Lira Hits Record Low as Markets Anticipate Fed Hike
The Turkish lira fell today, hitting a record low, as the hawkish outlook for Federal Reserve’s monetary policy and the resulting strength of the US dollar led to weakness of emerging markets’ assets. Fed Chairwoman Janet Yellen testified yesterday, and markets considered her comments as a signal that an interest rate hike is coming. CME FedWatch page shows 90% probability of a hike in December. Moreover, there is a 50% change of another hike in June […]
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November 182016
Mexican Peso Extends Slump Despite Interest Rate Hike
The recent slump of the Mexican peso, which followed the unexpected outcome of the US presidential elections prompted the central bank of Mexico to raise interest rates yesterday. But that did not help the currency much, and it continued its drop today. The Banco de Mexico increased its benchmark rate by 50 basis points to 5.25% yesterday. It is the highest level in more than 7 years. While the move was not […]
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November 182016
Mexican Peso Extends Slump Despite Interest Rate Hike
The recent slump of the Mexican peso, which followed the unexpected outcome of the US presidential elections prompted the central bank of Mexico to raise interest rates yesterday. But that did not help the currency much, and it continued its drop today. The Banco de Mexico increased its benchmark rate by 50 basis points to 5.25% yesterday. It is the highest level in more than 7 years. While the move was not […]
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November 172016
US Dollar Steadies as Fed Chair Janet Yellen Supports Raising Interest Rates
The US dollar recovered all of the losses it made earlier on Thursday following the testimony of Federal Reserve Chair Janet Yellen in front of Congress, in which she said that increasing interest rates soon is appropriate and should place the US economy on the right track. Yellen spoke to Congressâs Joint Economic Committee at 15:00 GMT today. In her remarks she said that the moderate growth seen in the worldâs largest economy should […]
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November 172016
US Dollar Steadies as Fed Chair Janet Yellen Supports Raising Interest Rates
The US dollar recovered all of the losses it made earlier on Thursday following the testimony of Federal Reserve Chair Janet Yellen in front of Congress, in which she said that increasing interest rates soon is appropriate and should place the US economy on the right track. Yellen spoke to Congressâs Joint Economic Committee at 15:00 GMT today. In her remarks she said that the moderate growth seen in the worldâs largest economy should […]
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November 172016
British Pound Loses Gains as Brexit Overshadows Impressive Retail Sales Growth
The British pound appreciated on Thursday against the US dollar following the release of retail sales data, which showed the strongest growth in 14 years. However, the UK currency was unable to maintain its gains as uncertainty about the nationâs future as a member in the European Union overshadowed the positive data. A report issued by the Office for National Statistics earlier today said that retail sales volumes rose by 1.9% in October from September, which is […]
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