Greenback regains some ground

23 September, 2016

Greenback regains some ground

On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision.

The currency pair EUR/USD dropped 0.08%, trading at 1.1198.

The US dollar had sagged broadly after on Wednesday, the Fed made up its mind to leave interest rates intact and dropped a hint at a less aggressive hike in interest rates in 2017 and 2018.

However, the American major bank indicated that it could tighten monetary policy before the end of 2016 if the job market keeps improving.

The greenback gained some support after on Thursday, the US Department of Labor announced that initial jobless claims edged down by 8,000 the previous week to 252,000, which is the lowest outcome since July.

The currency pair GBP/USD slumped 0.28%, trading at 1.3038.

Meanwhile, USD/JPY ascended 0.17%, hitting 100.92, thus easing off Thursday’s one-month minimum of 100.06.


Source link  
Japanese GDP

Japan will release the first estimate of its GDP in the second quarter at 02:50 MT time on August 14. The recent economic news from Japan was rather positive. In the first three months of 2017...

Traders need to watch American CPI

CPI stands for Consumer Inflation Index and changes in this index correspond to the level of consumer inflation. Higher inflation creates the reason...

NFP and US labor market data

The first Friday of a month is when the US Labor Department releases an update for nonfarm payrolls (NFP), unemployment rate and average hourly earnings...


Morning brief for December 30

EUR/USD spiked to 1.0653 in the course of the Asian session (its biggest intraday gain since early November). The US dollar slackened on the year-end profit-taking. There wasn’t any news hitting the wires. Italy’s government is going to bailout the country’s banks...

Morning brief for December 27

Financial markets are still sleeping with Christmas carols. Trading should be thin this week as the market participants are closing out 2016 volatile year...

Gold is tired of moving in the range

On the daily chart of gold, the bears remain control over the market. As long as quotes are below $ 1,195, their positions are not under threat. The update of the December low can lead to the continuation of downward movement towards $1,116...


Banks guidance ahead of the ECB meeting

It seems that everything is clear the ECB will extend its asset-purchasing program, and send the euro lower. But banks smell a rat in this announcement. The ECB should introduce more easing measures...

Goldman Sachs trade ideas for 2017

2017 is promising to be auspicious for the US dollar with the fiscal stimulus, immigration rhetoric and more protectionism spurring inflation rates and offsetting monetary policy tightening. The greenback should have a good advantage in light of the incoming political reshufflings in Europe...

Gold prices drop, but losses seen limited

Gold prices dipped, though losses were expected to remain quite limited as markets were jittery ahead of an American jobs report due later in the day and the American presidential election next week...

  


Share: