All Articles Tagged - US GDP

European Session – Dollar falls on disappointing US GDP

Posted on June 25, 2014 at 1:36 pm GMT

After falling to a one-week low against the dollar, the pound recovered some losses today and bounced to test the key 1.7000 level. This came on the back of a broadly weaker dollar which fell after disappointing US data today. Yesterday the pound came under pressure after comments from Bank of England Governor Mark Carney who reduced market expectations for a rate hike later this year, and the pound dropped below 1.70 for the first time this week. Meanwhile GDP [..]

European Session – Euro at 3-month lows, dollar rises despite soft US GDP

Posted on May 29, 2014 at 1:36 pm GMT

Trading volumes were thin during most of the European session due to the Ascension Day holiday in Europe today keeping many markets in the region closed. Also, investors were waiting for key US GDP data later in the day. Bigger moves for the US dollar followed the data. The euro touched a fresh 3-month low versus the dollar today at 1.3585 on expectations of ECB easing next week while sterling dipped to a 6-week low of 1.6692. The pound has [..]

Asian Session – Yen benefits from weakness in euro, dollar

Posted on May 29, 2014 at 6:30 am GMT

The euro was trying to hold on to the 1.36 level, while both the euro and the dollar receded against the Japanese yen; at 138.31 and 101.66 respectively. The pound continued to find itself under pressure and traded at 1.6721 – although it was up a little during the Asian session. Traders were taking profits after a long climb by the pound and as the Bank of England’s quarterly inflation report a couple of weeks ago did not make a [..]

Asian Session – Dollar holds losses as Fed reiterates low rates to remain

Posted on May 1, 2014 at 7:02 am GMT

Chinese official manufacturing PMI numbers released today came in lower-than-estimates, underscoring weakness in the world’s second largest economy. The PMI figure rose to 50.4 in April from 50.3 in March, below forecasts for a bigger increase to 50.5. In other news, the Federal Reserve concluded its monthly policy meeting yesterday by announcing a further cut of $10 billion to its bond buying program. The Fed reiterated that it will keep interest rates close to zero for a considerable time. The [..]

European Session – Euro above 1.38 despite soft EZ inflation, dismal US GDP weakens dollar

Posted on April 30, 2014 at 1:35 pm GMT

The euro strengthened across the board despite below forecast Eurozone CPI numbers. The preliminary reading on headline inflation rose to 0.7% year-on-year versus 0.8% expected but above a previous 0.5%. Despite the softer number, it is unlikely that the European Central Bank will take action at its policy meeting next week. This view is expected to keep the euro supported until then. Meanwhile, Tuesday’s below-forecast German CPI prepared markets for today’s overall softer Eurozone CPI. There were other mixed data [..]

Asian Session – Yen steady after mixed Japanese data

Posted on March 28, 2014 at 7:56 am GMT

The euro remains below 1.38, hovering near a three-week low against the dollar as central bank polices grow between the Euro zone and the US. The Fed has signalled rate hikes to begin sooner than previously thought while the ECB is mulling loosening monetary policy further. Upbeat US jobless claims on Thursday helped underpin the dollar as the number of Americans filing for unemployment benefits fell to the lowest since November at 311,000 compared to 325,000 expected and down from [..]

European Session – Euro surges above $1.38 on Eurozone inflation data

Posted on February 28, 2014 at 2:42 pm GMT

Eurozone inflation data printed a higher-than-forecast number today and lifted the euro to a new 2014 high against the dollar. The annual flash estimate showed consumer prices rose 0.8% in February, beating estimates of 0.7% while keeping the same pace as in the prior two months. The upbeat data lowered expectations that the European Central Bank would take action at its policy meeting next week. These diminished prospects of a rate cut led to euro buying and propelled the currency [..]

European Session – Euro tumbles on soft German CPI, dollar up after US GDP data

Posted on January 30, 2014 at 2:43 pm GMT

It was a busy day in the currency markets, with several data releases causing volatility. The main mood was risk-off as soft China PMI data today gave investors a fresh excuse to move out of risk. The euro was sold off early in the European session, falling below the key 1.36 level, kept under pressure by a firmer dollar. Despite the better German employment numbers which showed the number of jobless fell more than forecast by 28,000 to 2.93 million, [..]

Forex News – Improving US economy underpins Fed taper

Posted on December 23, 2013 at 5:28 pm GMT

Markets are focused on US data following the Federal Reserve’s announcement on December 18 to scale back its stimulus program. Since Federal Reserve Chairman Ben Bernanke first mentioned earlier this year that tapering was data-dependent, much of the dollar’s recent strength especially against the yen has been driven by improving US data. Last Friday, GDP data showed the US economy expanded at the fastest pace in two years in the third quarter. The revised figures showed a 4.1% growth at [..]

Asian Session – Dollar remains weak, weighed down by soft US GDP

Posted on April 29, 2013 at 6:04 am GMT

The dollar remains weak on Monday as a result of Friday’s softer-than-expected US GDP numbers. Data showed the world’s largest economy expanded by 2.5 percent in the first quarter, missing estimates of a 3.0 percent forecast. The weaker data raised concerns of another year of sluggish growth and spurred fresh bets that the Federal Reserve is unlikely to pull back on quantitative easing in the short term. Focus will now turn to the Fed’s FOMC next Tuesday and Wednesday. USDJPY [..]

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