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Forex News
October 242016
Australian Dollar Struggles to Rise Ahead of Q3 CPI
The Australian dollar has continued to grapple against the power of the mighty US dollar. But today, AUD/USD attempted to fight its way back, setting a high at 0.7640 when just on Friday, it traded as low as 0.7587. This, however, does not signal a green light just yet as the report on the Consumer Price Index for the third quarter of 2016 this week could have a major effect on the Reserve Bank of Australia‘s (RBA) interest […]
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October 242016
Pound Flat, GDP Report in Focus
The Great Britain pound was little changed today as traders are waiting for GDP data from the United Kingdom which will be released later this week. The preliminary report about UK gross domestic product in the third quarter of this year is scheduled for release on October 27. Experts predict that it will show growth by 0.3%, slowdown from the strong second quarter when Britain’s economy logged […]
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October 242016
Pound Flat, GDP Report in Focus
The Great Britain pound was little changed today as traders are waiting for GDP data from the United Kingdom which will be released later this week. The preliminary report about UK gross domestic product in the third quarter of this year is scheduled for release on October 27. Experts predict that it will show growth by 0.3%, slowdown from the strong second quarter when Britain’s economy logged […]
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October 242016
Euro Struggles to Stay Above Opening Level on Monday
The euro attempted to rise after Markit released a bunch of macroeconomic reports from the eurozone, but the rally was limited. In fact, the shared 19-nation currency even fell against some of its most-traded counterparts. Markit Purchasing Managers’ Indexes of manufacturing and services were almost all good in October, rising from September and beating expectations, be it for Germany, France, or the whole eurozone. The only disappointing one was the services PMI for France, […]
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October 242016
Euro Struggles to Stay Above Opening Level on Monday
The euro attempted to rise after Markit released a bunch of macroeconomic reports from the eurozone, but the rally was limited. In fact, the shared 19-nation currency even fell against some of its most-traded counterparts. Markit Purchasing Managers’ Indexes of manufacturing and services were almost all good in October, rising from September and beating expectations, be it for Germany, France, or the whole eurozone. The only disappointing one was the services PMI for France, […]
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October 222016
ECB Policy Statement Leads to Weekly Losses for Euro
One of the most important events this week was the monetary policy decision from the European Central Bank. While the ECB did not change its policy, the accompanying statement was dovish enough to send the euro crashing down against most other major currencies. ECB President Mario Draghi was rather dovish in his introductory statement to the press-conference, saying: Looking ahead, we remain committed to preserving the very substantial […]
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October 222016
ECB Policy Statement Leads to Weekly Losses for Euro
One of the most important events this week was the monetary policy decision from the European Central Bank. While the ECB did not change its policy, the accompanying statement was dovish enough to send the euro crashing down against most other major currencies. ECB President Mario Draghi was rather dovish in his introductory statement to the press-conference, saying: Looking ahead, we remain committed to preserving the very substantial […]
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October 212016
Dollar Rallies Against Rivals During Friday’s Trading
The US dollar was flat against the Japanese yen but rallied against other most-traded currencies during the Friday’s trading session. The major reason for the currency’s strength remained the outlook for an interest rate hike in December. Earlier this week, New York Fed President William Dudley said that he expects a rate increase this year if US economic growth remains on track. Currently, speculators price in 70% chance […]
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October 212016
Dollar Rallies Against Rivals During Friday’s Trading
The US dollar was flat against the Japanese yen but rallied against other most-traded currencies during the Friday’s trading session. The major reason for the currency’s strength remained the outlook for an interest rate hike in December. Earlier this week, New York Fed President William Dudley said that he expects a rate increase this year if US economic growth remains on track. Currently, speculators price in 70% chance […]
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October 212016
CAD Turns Lower After Data Fails to Reach Consensus Forecast
The Canadian dollar went down today, falling for the third consecutive trading session against the Japanese yen, after economic reports released by Statistics Canada missed market expectations. The Consumer Price Index rose 0.1% in September from August (not adjusted for seasonal variations) while experts had predicted a 0.2% increase. The core CPI was up 0.2% — in line with expectations. Retail sales fell 0.1% in August from July […]
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