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Forex News
October 192016
US Dollar Loses Ground to Yen Amid Depressing Housing Starts Data
The US dollar appeared bearish against the Japanese yen after the US Census Bureau published the housing starts data, which came out at 1.05 million against the forecast of around 1.18 million. Housing starts represent the annualized number of residential buildings that initiated construction work during the previous month. It has a direct impact on the overall US economy because housing construction creates demand for a number of products and services. Although […]
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October 192016
Great Britain Pound Flat as Employment Data Gives No Direction
The Great Britain pound was little changed today as the employment report released from the United Kingdom during the current trading session was mixed, giving the currency no compelling reason to go either up or down. October’s employment data showed that the number of people seeking unemployment benefits rose by just 700 in September from August. But the August value got a big revision from 2,400 up to 7,100, which […]
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October 192016
Great Britain Pound Flat as Employment Data Gives No Direction
The Great Britain pound was little changed today as the employment report released from the United Kingdom during the current trading session was mixed, giving the currency no compelling reason to go either up or down. October’s employment data showed that the number of people seeking unemployment benefits rose by just 700 in September from August. But the August value got a big revision from 2,400 up to 7,100, which […]
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October 192016
Australian Dollar Struggles to Keep Rally After China’s Data
The Australian dollar rallied after China released a bunch of macroeconomic reports, though the currency struggled to keep gains and actually slipped below the opening level against the Japanese yen. China’s gross domestic product rose 6.7% in the third quarter of 2016, year-on-year. It was in line with expectations and the same rate of growth as in the previous quarters of this year. On a negative side, industrial production missed expectations, rising 6.1% in September (also year-on-year) […]
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October 192016
Australian Dollar Struggles to Keep Rally After China’s Data
The Australian dollar rallied after China released a bunch of macroeconomic reports, though the currency struggled to keep gains and actually slipped below the opening level against the Japanese yen. China’s gross domestic product rose 6.7% in the third quarter of 2016, year-on-year. It was in line with expectations and the same rate of growth as in the previous quarters of this year. On a negative side, industrial production missed expectations, rising 6.1% in September (also year-on-year) […]
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October 182016
GBP/USD Rallies as Inflation Data Is Released
The British pound rose to new highs today rallying against other currencies such as the US dollar for the second day in a row. The British pound gained against other major currencies such as the US dollar and the euro after the release of UK inflation data for the month of September. The rally was triggered by the release of inflation figures today, which were higher than what analysts had forecasted. The inflation data showed that consumer prices […]
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October 182016
GBP/USD Rallies as Inflation Data Is Released
The British pound rose to new highs today rallying against other currencies such as the US dollar for the second day in a row. The British pound gained against other major currencies such as the US dollar and the euro after the release of UK inflation data for the month of September. The rally was triggered by the release of inflation figures today, which were higher than what analysts had forecasted. The inflation data showed that consumer prices […]
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October 182016
New Zealand Dollar Rallies as Inflation Beats Expectations
The New Zealand dollar rose against its major peers today, including the euro, against witch the kiwi rallied for the fifth straight trading session. The reason for the rally was the better-than-expected inflation report. The Consumer Price Index rose 0.2% in the September quarter from the previous three months. While it was slower growth than in the June quarter (0.4%), the actual data was still better than analysts’ forecasts that promised […]
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October 182016
New Zealand Dollar Rallies as Inflation Beats Expectations
The New Zealand dollar rose against its major peers today, including the euro, against witch the kiwi rallied for the fifth straight trading session. The reason for the rally was the better-than-expected inflation report. The Consumer Price Index rose 0.2% in the September quarter from the previous three months. While it was slower growth than in the June quarter (0.4%), the actual data was still better than analysts’ forecasts that promised […]
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October 182016
Australian Dollar Rallies After RBA Minutes
The Australian dollar rallied following the release of the October policy meeting held by the Reserve Bank of Australia. The currency also got support from rallying Asian equities and rising crude oil prices. Unlike the previous RBA Governor, Philip Lowe did not complain about the exchange rate, saying that “the lower exchange rate since 2013 had been helping the traded sector,” though he also mentioned that “an appreciating exchange […]
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