Posts Tagged ‘news’

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Strong Inflation Data Fail to Boost Sterling’s Rise

It is not a good day for bulls who trade the GBP/USD pair. The British currency loses ground against its American counterpart despite the strong inflation report from the United Kingdom. The UK's inflation rate hit the highset level in 5 and half years in September in annual terms. The consumer prices grew by 3% as expected. This is an obvious sign that it is the right time for the British central bank to take […]

EUR/USD Takes Nosedive

Today, the American dollar moved quite unpredictably. After forecasts of an unlikely sharp rise of the US dollar, buyers of the greenback, on the contrary, increased the number of deals. Now, the EUR/USD pair is moving down to a week low, trading near 1.1750. There are a number of reasons for the downward trend of the pair. First of all, it is time to pay attention to the eurozone inflation rate. According to final estimates from Eurostat, consumer prices rose […]

Daily Forex News and Analysis — October 17th 2017

US stocks closed higher on Monday, as gains in Telecoms, Technolgy, and Financials lifted the market. The Dow Jones rose by 0.37%, the S&P 500 by 0.18%, and the NASDAQ added 0.28% to its value. The US dollar rose against a basket of major currencies on upbeat manufacturing data, but gains were capped as investor concerns over a continued slowdown in inflation weighed on sentiment. Gold fell, closing at $1,294 an ounce. Crude Oil fell, closing at $51.82 […]

Euro Still Weak

Political instability in Europe is gaining new momentum. This weekend, Austria held the parliamentary election. The result was predictable, but the consequences turned out to be intriguing. Now the conservatives in the new parliament are forced to form a coalition with the far rights who are gaining popularity. Market participants still closely watch the issue of Catalonia's struggle for independence. Today, Spain's ultimatum runs out. Spain was waiting for Catalan […]

China Consumer Inflation Eases in September

Traders working with the Australian dollar are braced for a turbulent week. During the Asia Pacific trade, China's National Bureau of Statistics released a report on consumer inflation. In annual terms, consumer price inflation eased to 1.6% in September from 1.8% in August. The rate came in line with expectations. In a separate report, China's factory gate inflation arouses more optimism. Producer price inflation shot up to 6.9% from 6.3% in the previous […]

Daily Forex News and Analysis — October 16th 2017

US stocks closed higher on Friday, as gains in Basic Mateials, Technology, and Consumer Services lifted the market,. The Dow Jones rose by 0.13%, the S&P 500 by 0.09%, and the NASDAQ added 0.22% to its value. The US dollar fell against a basket of major currencies after inflation data fell short of expectations, sparking uncertainty about the outlook for tighter monetary policy. Gold traded higher, supported by the dip in the dollar. Crude Oil traded higher, […]

Daily Forex News and Analysis — October 15th 2017

The EUR/USD pair fell by 0.08%, closing the week at 1.1820. The GBP/USD pair increased by 0.17%, closing the week at 1.3066 exchange rate. Austrians are at the poll today for a snap national election. The vote has come a year early after disputes led to the breakdown of the coalition government of the Social Democrats and the People's party. Gold rose by 0.62%, as of last week's market close, closing at $1,304.60 an ounce, Crude Oil rose by 1.68%, closing at $51.45 a barrel. […]

USD Lacks Support

Even upbeat macroeconomic data from the US did not boost the demand for the US dollar. Today, the greenback can find support from US inflation data and retail sales. At present, CPI data is of crucial importance for the US regulator. The minutes of the latest Fed policy meeting showed that while policy makers are open to raising interest rates in December, they are still concerned about low inflation. Experts […]

Oil Market Attracts Investors

On Thursday, correction of oil prices turned into a sharp increase. Crude advanced by more than 1%. Oil gains ground amid the release of the EIA report that showed a weekly drawdown of 2 million 747 thousand barrels in the United States oil inventories. Crude Light Sweet Oil rebounded from the mark above $50.20 a barrel and is trying to break through the $52 level. Meanwhile, Brent Crude Oil is trading […]

Euro Losing Grounds

Today, traders started to doubt whether to buy the euro. The EUR/USD pair is correcting its movement. The single European currency fell from 1.1850 and is trading near the level of 1.1830. The euro weakened after Mario Draghi's speech on Thursday. The ECB President noted that the quantitative easing program will continue until improvement of the inflation indicators. Consumer prices in the eurozone continue to remain below the target level. It means that […]