Construction — News Archive


Euro Declines Against US Dollar on Weak Eurozone CPI

The euro was on a downtrend against the US dollar for most of the European session having been in a consolidation phase during the Asian session. The single currency’s decline was largely precipitated by the modest recovery in the US dollar demand.

British Pound Falls as Construction Activity Declines in December

The British pound fell against most of its major peers on Wednesday following a fresh release that showed a drop in activity within the construction sector in the last month of 2017. The British currency further weakened against the US dollar as traders anticipated the minutes of the last Federal Open Market Committee’s meeting.

EUR/USD Slumps to New Lows on Mixed Eurozone and ADP Data

The EUR/USD currency pair today slumped to new lows from daily highs set in the late Asian session, despite a raft of positive data from the Eurozone. The release of upbeat German factory orders for the month of October in the early European session could not lift the single currency.

Australian Dollar Soft Despite Positive Reports

The Australian dollar fell today despite positive macroeconomic data. Minutes of a monetary policy meeting released by the Reserve Bank of Australia yesterday were somewhat dovish, adding to the pressure on the currency.

Australia Dollar Falls After RBA Remains Passive

The Australian dollar fell today after Reserve Bank of Australia remained passive, showing it has no plans for raising interest rates in the foreseeable future.

Pound Crashes After Dovish Hike by BoE

The Bank of England hiked its main interest rate for the first time in a decade as was widely expected, but markets considered the hike to be a dovish one. The Great Britain pound crashed as a result, falling more than 1% against its most-traded peers.

British Pound Rallies Against US Dollar on Strong PMI Data

The British pound today rallied higher against the US dollar after the release of positive Markit/CIPS UK Services PMI data. The stalled recovery in the US dollar also contributed to the pound’s rally against it due to declining US treasury yields.

Pound Drops After Britain’s Construction Contracts Unexpectedly

The Great Britain pound dropped today after Britain’s construction sector unexpectedly contracted last month, causing worries about the state of the country’s economy and speculations that the Bank of England may refrain from tightening its monetary policy in the near future.

Aussie Gains on Greenback, Dragged Down vs. Other Rivals by Economic Data

The Australian dollar joined the broad based rally against its US rival. Against other currencies, the Aussie declined as basically all domestic macroeconomic reports released over the Thursday’s session were poor.

Pound Remains Vulnerable to Adverse Fundamentals

The Great Britain pound was vulnerable today amid the cautious market sentiment, persisting uncertainty surrounding the Brexit, and poor economic data.