US dollar rebounds strongly

27 August, 2015

The Euro is trading sharply lower today against the US dollar on the back of a surprise interest rate cut from the peoples bank of China and some positive data from the US which may see the US Federal reserve move ahead with a rate hike next month.

At 3.39pm (GMT) the US dollar was trading at 1.1405 against the US dollar down from 1.1514 in yesterdays close.

The latest durable goods numbers from the US came in at 2.0% against analysts’ expectations for a number of -0.4% while the figure ex transportation was a healthy 0.6% against a consensus of 0.4%.

Is the US dollar making a comeback?

After allowing the Euro to reach a 7 month high the US dollar has rebounded strongly along with the economy which shows its ability to withstand external shocks such as the Chinese economy with its  recent currency devaluations and stock market crash..

 James DeMasi, chief fixed-income strategist at Stifel Nicolaus & Co noted,

"It demonstrates the continued resiliency of the U. S. economy in the face of formidable international headwinds."


Source link  
Gold remains supported

After falling sharply on Monday, the gold price has stabilized over the last 2 days and it looks as if for now, the precious metal has found strong...

US dollar hit from 2 sides

The US dollar is under pressure against the major currencies today as fears grow over the possibility of tax reform as well as disastrous results...

Australian dollar has further to fall

The Australian dollar is under further pressure today after yesterday’s spectacular plunge which seems to have put to bed any interest rate hike...


Gold technical review

The gold price has finally stabilized today after suffering 3 days of heavy losses and we may be in the process of a double bottom formation. It seems as if the news out of Spain...

Oil set to rebound

The Oil price has finally settled in today’s trading after a week of heavy losses on the back of profit taking and some say that the price may once again head higher. Following a solid month of gains...

New sanctions won't hurt gold

The gold price is stable in early Asian trading today after falling heavily yesterday after a planned missile test from North Korea failed to eventuate...


Gold down but not out

The gold price has bounced back in today’s trading after racking up losses on the back of a deal between the white house and Congress and some say yesterday was just a small...

Oil to remain capped at $50

The oil price is making another run for the $50 mark today over concerns about the damage that Hurricane Harvey has caused, but below it will struggle...

Gold down on profit taking

Gold has pulled back in the last 3 days on the back of profit taking but by no means is the rally over with so much uncertainty around us at the moment...

  


Share: