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 price is stabilizing today

The gold price is stabilizing today after suffering its biggest loss in 6 weeks yesterday on the back of strong retail sales numbers from the US...

Gold down on jobs report

The gold price remains under pressure today following on from last Friday’s losses after the release of solid employment numbers from the US...

Gold technical review

As we noted in last Friday’s report the gold price would make a charge for the next resistance level of is $1,265 which it has comfortably broken over the last 2 trading session and has now...


Gold price is facing headwinds

Overall gold has made some solid gains over the past 2 weeks on the back of US dollar weakness and although the precious metal has been under pressure...

RBA wants Australian dollar lower

The Australian dollar continues to push towards the US80c mark in today trading session, brushing off remarks by the Reserve Bank of Australia...

Gold awaits ECB

The gold price is under pressure today as the market awaits the latest interest rate decision from the European central bank followed by a monetary press conference.


Pound has reached a peak

The British pound is under further pressure today after yesterday’s disappointing inflation figures which has now seemingly taken an interest rate hike...

Gold technical review

The gold price is trading higher for a 3rd straight day in today’s trading session and has clearly broken through what was formerly a strong resistance level as we can see by the lower line....

Time to buy gold

The gold price is heading down towards the $1,200 mark in today’s trading and some analysts are saying now is the time to get into the precious metal. The price has now fallen around $100 over...

  


Share: