Philadelphia Fed — News Archive


EUR/USD Trades Sideways on ECB Speeches and Mixed US Data

The EUR/USD currency pair today traded sideways by rallying higher in the late Asian session and early European session before heading lower. The currency pair declined despite speeches from European Central Bank members, but later rallied higher on mixed US data.

Euro Consolidates Gains Against US Dollar on Mixed US Data

The euro today consolidated gains made against the US dollar after the release of mixed data from the US docket in the early North American session. The euro declined against the greenback during the Asian session but reversed this trend in the early European session to rally higher.

EUR/USD Trades Sideways on Eurozone and US Data

The EUR/USD currency pair was on a downtrend for most of the European session after the release of Eurozone CPI data for October. The pair later rebounded in the early American session after the release of US macro data.

EUR/USD Rallies as Spanish Government Tightens Grip on Catalonia

The EUR/USD currency pair rallied to new highs today despite the announcement by the Spanish government that it would invoke Article 155 suspending Catalonia’s autonomy. The currency pair rallied higher in the early North American session ignoring the release of positive US unemployment data by the Department of Labor.

Euro Rallies Against US Dollar on Mario Draghi Speech

The euro today rallied briefly against the US dollar after Mario Draghi‘s speech at the second annual conference of the European Systemic Risk Board in Frankfurt. The EUR/USD currency pair was on a recovery mode throughout today’s session after a major decline triggered by yesterday’s FOMC rate decision.

Euro Rallies Against Peers on Mario Draghi Speech and ECB Rate Decision

The euro rallied higher against its main counterparts today after the European Central Bank Governor’s speech on the bank’s rate decision. Mario Draghi‘s speech was a commentary on the ECB’s future outlook after it announced that it would maintain its current interest rates and its quantitative easing program.

Dollar Under Pressure from Weak Economic Data

The US dollar was under pressure from poor macroeconomic indicators lately, and the Thursday’s session was not an exception. While not all of the reports were bad, most of them were not as good as market participants had expected, driving the greenback further down.

Dollar Rises While Traders Afraid of Recession

The US dollar went up today versus most of its major peers as the speculation that the global economy will face a double-dip recession made investors stick to safe currencies. The greenback is still considered to be a safe currency even with all the turmoil in the United States.

Slower US Economy’s Growth Makes Dollar Weaker

The US dollar declined today as the macroeconomic reports showed that the economy of the US improved with slower pace than was anticipated.

Dollar Rises as US Economy Strengthens

The US dollar rose today, erasing previous decline, against the euro and the Japanese yen after the US macroeconomic reports posted another set of good results and as the concerns for the health of Europe’s economy increased the attractiveness of the currency as the safe haven.