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Forex News
July 242018
Euro Rallies Slightly Against US Dollar on Mixed Eurozone PMIs
The euro today rallied slightly higher against the US dollar in the early European session following the release of mixed Eurozone PMI data by IHS Markit. The US dollar was stronger against the euro during the Asian session after President Donald Trump‘s comments on US GDP growth boosted the greenback. The EUR/USD currency pair today rallied from a low of 1.1653 to a high of 1.1710 following the Markit releases. The currency pair’s rally could […]
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July 242018
Great Britain Pound Demonstrates Strength amid Uncertain Fundamentals
The Great Britain pound was rather strong today, which is surprising considering all the uncertainty surrounding the Brexit, Britain’s economic health, and the Bank of England monetary policy. Yesterday, BoE Deputy Governor Ben Broadbent said after his speech about “The history and future of QE” that he has not yet decided how to vote at the August policy meeting. That added to uncertainty surrounding the next month’s BoE policy […]
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July 242018
Japanese Yen Extends Rally, Ignoring Domestic Data
The Japanese yen rose today, retaining its place as one of the strongest currencies on the Forex market, despite underwhelming domestic data. That was not particularly surprising, though, as the currency often ignores domestic data in favor of other fundamentals. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index fell from 53.0 in June to 51.6 in July, whereas analysts had predicted a small increase to 53.2. Annual consumer inflation reported by the Bank […]
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July 242018
US Dollar Gains After Massive Debt Selloff, Economic Data
The US dollar rallied against most other major currencies on Monday, rebounding from last weekâs disappointing performance. The jump in the greenback occurred following several key economic reports and a massive selloff in US government debt holdings. It was reported that the Bank of Japan (BOJ) is considering adopting changes to its trademark yield curve control policies, leading investors to sell their US and Japanese government bonds. The trend […]
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July 242018
US Dollar Gains After Massive Debt Selloff, Economic Data
The US dollar rallied against most other major currencies on Monday, rebounding from last weekâs disappointing performance. The jump in the greenback occurred following several key economic reports and a massive selloff in US government debt holdings. It was reported that the Bank of Japan (BOJ) is considering adopting changes to its trademark yield curve control policies, leading investors to sell their US and Japanese government bonds. The trend […]
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July 232018
Canadian Dollar Soft on Uneventful Day
The Canadian dollar was rather soft today, falling against most major currencies. The euro was an exception as the loonie traded flat versus the shared 19-nation currency. One of the possible reasons for the weakness of the Canadian currency was the tendency of Forex traders to stick to safer currencies, not riskier ones. Another reason for the drop was the decline of crude oil prices, which followed the earlier rally caused by US-Iran tensions. This week is […]
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July 232018
Canadian Dollar Soft on Uneventful Day
The Canadian dollar was rather soft today, falling against most major currencies. The euro was an exception as the loonie traded flat versus the shared 19-nation currency. One of the possible reasons for the weakness of the Canadian currency was the tendency of Forex traders to stick to safer currencies, not riskier ones. Another reason for the drop was the decline of crude oil prices, which followed the earlier rally caused by US-Iran tensions. This week is […]
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July 232018
Euro Starts Week on Soft Footing
The euro was rather soft today, falling against most other major currencies. The possible reason for the weak performance was concern about the health of the European economy. The start of the week was light on economic data. The only report in the eurozone was the consumer confidence indicator released by the European Commission, which remained unchanged at -0.6 in July. The indicator for the whole European Union improved, rising from -0.7 to +0.6. The rest of the week should be […]
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July 232018
Euro Starts Week on Soft Footing
The euro was rather soft today, falling against most other major currencies. The possible reason for the weak performance was concern about the health of the European economy. The start of the week was light on economic data. The only report in the eurozone was the consumer confidence indicator released by the European Commission, which remained unchanged at -0.6 in July. The indicator for the whole European Union improved, rising from -0.7 to +0.6. The rest of the week should be […]
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July 232018
Strength of Swiss Franc Signals About Risk Aversion on Forex Market
The Swiss franc was relatively strong today, rising against such currencies as the US dollar and the euro, though not the Great Britain pound and the Japanese yen. The fact that both the yen and the franc were strong today suggested that traders were seeking safety, not higher yields. As for fundamentals specific to the Swissie, there were none, with the Credit Suisse Economic Expectations due for release on Wednesday being the only economic release […]
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