Showing posts with the label FX | Currencies

FX | Currencies The Dollar On Friday 26, 2019 | Dollar hit as weak inflation data takes shine off first-quarter GDP numbers

David Reid 3 minutes The dollar fell against a basket of other currencies on Friday, after an overall strong U.S. first-quarter growth report was overshadowed by soft inflation data. Gross domestic product increased at a 3.2 percent annualized rate in the quarter, the Commerce Department said in its advance GDP report, released on Friday, versus the 2.0 percent estimated by economists polled by Reuters. The dollar, however, did not enjoy a boost from the report as traders focused on the core personal expenditures consumption price index figure, the Federal Reserve’s preferred inflation gauge, which increased at only a 1.3% rate versus 1.8% in the prior quarter. “Overall, U.S. growth last quarter was outstanding. But the soft inflation components were enough to spur some profit-taking in the buck’s winning week,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. The dollar index , whi

FX | Currencies | Upbeat US data lift dollar to two-week high, euro falls

Fred Imbert 3 minutes Matt Cardy | Getty Images The dollar rose to a two-week peak against a basket of currencies on Tuesday as unexpectedly strong data on U.S. services industries and new home sales allayed some worries about the state of the world's largest economy. The euro weakened to two-week lows versus the greenback on expectations that the European Central Bank meeting on Thursday would hint at a delay in raising rates until next year and soon relaunch long-term bank loans to battle an economic slowdown. Among other G10 currencies, the Canadian dollar fell to its lowest in over five weeks due to a combination of trade troubles, resignations from Prime Minister Justin Trudeau's cabinet and bets the Bank of Canada could be on the cusp of changing its policy direction. "We are still seeing pretty solid data, which are keeping the dollar supported here," said Eric Viloria, currency strategist at Credit Agricole in

FX | Currencies: German data fails to sink euro as US tariffs eyed

5-7 minutes Dan Kitwood | Getty Images The euro rose from a three-month low on Thursday as hopes of progress in China-U.S. trade talks lifted risk appetite towards major currencies across the boar