All Articles Tagged - US GDP

European Session – Dollar extends losses on dismal US GDP numbers; gold rallies

Posted on July 29, 2016 at 2:41 pm GMT

The last day of the trading week ended with a raft of data out during the European session. The Eurozone halved its growth in the second quarter, with GDP rising by 0.3%, though in line with expectations. The flash inflation estimate for the euro area in July rose to 0.2% year-on-year from 0.1% in June. From the UK, the Gfk consumer confidence survey fell to a lower – than – expected figure of –12 in July from –1 in June. [..]

European Session – Dollar gains despite misses in US GDP and consumer sentiment data

Posted on May 27, 2016 at 3:05 pm GMT

Most major currency pairs were directionless during the European Session in the absence of key data releases out of Europe, while traders were re-positioning ahead of the long weekend in the UK and US. Markets in London and New York will both be closed on Monday due to a public holiday. The US dollar was firmer today and gained momentum despite misses on some key US data but US economic growth was revised upward and this helped support the greenback. [..]

Asian Session – Dollar consolidates ahead of Yellen; oil slips back below $50

Posted on May 27, 2016 at 7:53 am GMT

Major currencies were range-bound on Friday as broadly positive US data yesterday failed to give markets any direction. Traders are instead looking to Fed Chair Janet Yellen’s appearance later today for further clues on the Fed’s intentions at the June policy meeting. Yellen is due to participate in a discussion on interest rates at Harvard University. In the meantime, there were more hawkish comments from Fed policymakers as Washington DC Fed President Jerome Powell said on Thursday that another rate [..]

European Session – Dollar surges to one-week high above 113 yen on strong US data

Posted on February 26, 2016 at 3:54 pm GMT

There was risk on sentiment in global markets today especially after upbeat US GDP data. Oil helped risk appetite as well as prices rallied 3% after rising from below $33 to rise above $34 before easing back down. Oil is set for a weekly rise as strong US gasoline demand and hopes of OPEC action outweighed concerns of oversupply. The dollar gained across the board and pressured the euro back below $1.10. A series of data out of Europe today [..]

European Session – Dollar stronger despite soft US GDP, supported by post-BOJ wave of buying

Posted on January 29, 2016 at 3:58 pm GMT

The US dollar was broadly stronger today, especially against the European currencies but did not make as much headway versus the commodity currencies. The euro was only briefly supported by better-than-expected Eurozone inflation data and the currency was unable to hold the key $1.09 handle. It subsequently fell against the dollar to 1.0832 from 1.0925. The Eurozone headline inflation rate rose from 0.2% year-on-year in December to 0.4% in January, with the core rate ticking up to 1.0%. Despite the [..]

European Session – Sterling drops to 8-month low, aussie rises as China plans more stimulus

Posted on December 22, 2015 at 3:06 pm GMT

The Australian and New Zealand dollars were the big movers in the major currency pairs as China plans more stimulus. Stabilization of oil and iron ore prices also helped. The Antipodeans reacted to a report out on Monday that China will make its monetary policy more flexible and expand its budget deficit in 2016 in order to stimulate growth in the slowing economy. Meanwhile, China’s plans also offered commodities and commodity currencies some much needed respite. Apart from the news [..]

FX Daily Outlook| 22-12-15

Posted on December 22, 2015 at 10:15 am GMT

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European Session – US Q3 GDP supports dollar, euro bounces on German Ifo

Posted on November 24, 2015 at 4:08 pm GMT

The euro bounced on upbeat German Ifo data that showed the business climate index rose in November to come in at 109 from 108.2 in October. It was expected to remain unchanged. Meanwhile, German third quarter GDP was unrevised at 0.3% quarter-on-quarter. The euro bounced versus the dollar after the Ifo data but met resistance at 1.0668. After another bounce to 1.0672 in the early US session the euro fell back down to 1.0627. Sterling underperformed against the dollar to [..]

European Session – Dollar pokes 121 yen after upwardly revised US Q2 GDP data

Posted on September 25, 2015 at 2:03 pm GMT

The dollar was broadly stronger on Friday as the market’s focus turned to the possibility of a Fed rate hike before the end of this year, following a more upbeat speech by Fed Chair Janet Yellen on Thursday. The euro fell back into the 1.11 handle against the dollar, after having approached 1.13 yesterday. Yellen’s comments accelerated a decline to a low of 1.1115 today. The diverging monetary policies between the ECB and the Fed are taking hold and putting [..]

European Session – Dollar resurfaces above 120 yen after US Q2 GDP revised up

Posted on August 27, 2015 at 2:12 pm GMT

There was an improvement in the broader market sentiment on Thursday as concerns over China eased. This helped global equity markets to rally. Adding to risk appetite were hopes that US interest rates would stay low for a bit longer after comments by New York Fed President William Dudley on Wednesday, who said a September rate hike was less compelling. Demand for safe havens like the yen diminished today, helping the dollar rise back above the key 120.00 yen level. [..]

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