The euro today dropped to new lows against the US dollar after the release of positive US GDP data for Q3 2017 in the early American session. The EUR/USD currency pair was on a downtrend after the release of German CPI data in the mid-European session among other Eurozone releases.
The US dollar moved marginally higher against the euro on Tuesday following the release of better than expected data for the housing market in the United States. However, investors’ anticipation for a speech that Federal Reserve Chairwoman Janet Yellen is scheduled to give tomorrow has kept the greenback’s gains dormant today.
The euro today rallied higher against the US dollar after the release of German GDP data by the Federal Statistical Office. Other releases from the Eurozone including the higher consumer prices in Germany served to boost the euro against the greenback.
The US dollar declined against the euro on Thursday as investors anticipated the announcement of the new Federal Reserve Chair. The greenback failed to climb despite positive data releases today, which showed strong nonfarm productivity and fewer applications for unemployment benefits.
The euro today crashed against the US dollar after the European Central Bank announced that it would cut its quantitative easing program by half to €30 billion in 2018. The ECB also left interest rates at their current levels with Mario Draghi, the ECB President, expressing concern over a number of financial issues facing the Eurozone including low inflation rates.
The euro today declined significantly against the US dollar after a raft of positive releases from the US docket starting with the ADP employment change data in the mid-European session. The EUR/USD currency pair had registered some gains early in the European session after the release of positive Markit Eurozone Services 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.
The US dollar rose against other major currencies on Monday following the release of manufacturing activity data that exceeded analyst estimates. Expectations of higher interest rates in the short term led an index that tracks the strength of the greenback touched its highest level in about one and half months.
The US dollar rose against most of its major rivals (though not all of them) today even as mixed macroeconomic reports did not lend much support to the currency.
The euro today declined against the US dollar on the back of positive US macro data including the durable goods orders and the weak MBA mortgage applications data. The euro was weighed down by the political uncertainties in Germany even as Angela Merkel is expected to form a three-way coalition government.
