Forex News
Dow posts longest win streak since 1992; Street prepares for Trump's speech to Congress
Fri, 24 Feb 2017 21:21:00 +0000
U.S. equities closed flat to higher while investors awaited President Donald Trump's speech to Congress next week.
Dollar falls vs yen on US policy doubts
Fri, 24 Feb 2017 20:54:00 +0000
The U.S. dollar fell to a more than two-week low against the Japanese yen on Friday.
U.S. Consumer Sentiment Drops Less Than Initially Estimated In February
Fri, 24 Feb 2017 15:27:15 +0000
Consumer sentiment in the U.S. pulled back by less than initially estimated in the month of February, according to a report released by the University of Michigan on Friday. The report said the consumer sentiment index for February was upwardly revised to 96.3 from a preliminary reading of 95.7.
U.S. New Home Sales Rebound Less Than Expected In January
Fri, 24 Feb 2017 15:16:24 +0000
After reporting a steep drop in U.S. new home sales in the previous month, the Commerce Department released a report on Friday showing that new home sales rebounded in the month of January. The report said new home sales climbed by 3.7 percent to an annual rate of 555,000.
China a currency manipulator£ Mnuchin says not just yet
Fri, 24 Feb 2017 11:57:00 +0000
CNBC's Eunice Yoon on China's response to President Trump calling the country the "grand champions" of currency.
Pound Falls Amid Risk Aversion
Fri, 24 Feb 2017 10:39:34 +0000
The British pound weakened against the other major currencies in the early European session on Friday, as European stock markets fell after media reports suggested that U.S. President Donald Trump may not take action on his proposed $550 billion infrastructure promise until 2018.
JPMorgan: Why we’re betting on a stronger yen
Fri, 24 Feb 2017 07:36:00 +0000
The yen was set to strengthen against the dollar, despite expectations for U.S. rate hikes, an FX strategist at JPMorgan said.
European Economics Preview: France Consumer Confidence Data Due
Fri, 24 Feb 2017 06:26:10 +0000
Consumer sentiment from France is due on Friday, headlining a light day for the European economic news.
Mexico reveals differences of opinion within Trump administration: Pro
Fri, 24 Feb 2017 06:14:00 +0000
Actis COO Andrew Newington discusses investment in Mexico in light of the country's troubled relationship with the Trump administration.
Stay short dollar/yen: Expert
Fri, 24 Feb 2017 02:49:00 +0000
Jonathan Cavenagh of JP Morgan explains why he's short the dollar/yen trade.
Dow posts 10th straight record close after Steve Mnuchin remarks, but tech snaps 15-day win streak
Thu, 23 Feb 2017 21:17:00 +0000
U.S. equities closed mixed Thursday on the back of remarks made by newly minted Treasury Secretary Steve Mnuchin.
Dollar dips as US policy worries, Fed minutes weigh
Thu, 23 Feb 2017 20:12:00 +0000
The dollar fell against a basket of currencies on a perceived lack of progress on U.S. tax reform and public spending.
Why China will probably escape being labeled 'currency manipulator'
Thu, 23 Feb 2017 14:47:00 +0000
Treasury Secretary Steven Mnuchin told CNBC the U.S. will stick to procedure in deciding whether China is a currency manipulator.
U.S. Weekly Jobless Claims Rise To 244,000
Thu, 23 Feb 2017 14:02:17 +0000
First-time claims for U.S. unemployment benefits saw a modest increase in the week ended February 18th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims rose to 244,000, an increase of 6,000 from the previous week's revised level of 238,000.
Here's the new signature that will be on every new dollar in your wallet
Thu, 23 Feb 2017 13:52:00 +0000
Treasury Secretary Steven Mnuchin tells CNBC he has been working to improve his once-illegible signature.
Border tax, trade and the dollar
Thu, 23 Feb 2017 11:53:00 +0000
Alan Tonelson, RealityChek founder, gives his take on how President Trump's potential tax plans could affect the dollar.
German Growth Improves On Spending; Consumer Sentiment To Fall
Thu, 23 Feb 2017 11:31:58 +0000
Germany's economic growth accelerated, as initially estimated in the fourth quarter on robust domestic demand. However, a consumer confidence survey signaled a slowdown in spending this year as rising inflation and changes in the U.S. administration weigh on income and economic expectations. Gross domestic product grew 0.4 percent sequentially in the fourth quarter.
Aussie Falls As Australia Q4 Capex Drops Unexpectedly
Thu, 23 Feb 2017 06:43:44 +0000
The Australian dollar weakened against other major currencies in the Asian session on Thursday, after data showed that the private capital expenditure in Australia dropped unexpectedly on quarter in the fourth quarter of 2016.
European Economics Preview: Germany GDP, Gfk Consumer Sentiment Data Due
Thu, 23 Feb 2017 05:59:26 +0000
Revised quarterly national accounts and consumer sentiment from Germany are due on Thursday, headlining a light day for the European economic news.
Bank Of Korea Maintains Lending Rate At 1.25%
Thu, 23 Feb 2017 02:14:36 +0000
The Bank of Korea's monetary policy board on Thursday voted to hold the nation's benchmark interest rate unchanged at the record low 1.25 percent for the eighth straight month.
Stocks end mixed after Fed minutes, but Dow posts 9th straight record close
Wed, 22 Feb 2017 21:17:00 +0000
U.S. equities closed mixed after minutes from the Fed's previous meeting hinted that a rate hike coming "fairly soon."
US dollar index erases gains, turns flat after FOMC meeting minutes
Wed, 22 Feb 2017 19:54:00 +0000
The dollar index erased earlier gains after Fed meeting minutes showed the next interest rate increase could be soon.
U.S. Existing Home Sales Rebound More Than Expected In January
Wed, 22 Feb 2017 15:32:19 +0000
After reporting a drop in U.S. existing home sales in the previous month, the National Association of Realtors released a report on Wednesday showing that existing home sales rebounded by more than expected in the month of January. NAR said existing home sales surged up by 3.3 percent to an annual rate of 5.69 million.
German Business Confidence Improves Suggesting Stronger Growth Momentum
Wed, 22 Feb 2017 12:42:26 +0000
German business confidence unexpectedly improved in February on an upbeat assessment of the current economic situation and greater optimism for the future, adding to evidence that suggests growth is gaining momentum in the biggest euro area economy.
UK Q4 GDP Growth Tops Estimate On Manufacturing
Wed, 22 Feb 2017 12:29:03 +0000
The UK economy expanded more than initially estimated in the fourth quarter of 2016 on manufacturing activity, but the overall growth for the year slowed down due to weak stock-building. Gross domestic product advanced 0.7 percent sequentially in the fourth quarter, slightly faster than the 0.6 percent growth estimated on January 26.
Antipodean Currencies Rise On Positive Cues From Wall Street
Wed, 22 Feb 2017 06:31:26 +0000
Antipodean currencies such as the Australian and the New Zealand dollars strengthened against their major counterparts in the Asian session on Wednesday as risk appetite rose following the positive cues overnight from Wall Street. However, gains are modest as investors turned cautious ahead of the release of the U.S. Federal Reserve minutes later in the day.
Hong Kong GDP Growth To Improve In 2017
Wed, 22 Feb 2017 06:21:51 +0000
Hong Kong's economic growth is forecast to improve this year, driven by domestic demand and sustained increase in infrastructure and construction activities, Financial Secretary Paul Chan said in his 2017-18 budget speech on Wednesday. The economy is projected to grow 2-3 percent this year compared to a moderate growth of 1.9 percent in 2016.
European Economics Preview: Germany's Ifo Business Confidence Due
Wed, 22 Feb 2017 06:13:56 +0000
Ifo business confidence survey from Germany and quarterly national accounts from the UK are the major reports due on Wednesday.
Window for dollar weakness£
Wed, 22 Feb 2017 02:38:00 +0000
Todd Elmer, currency strategist at Citi, says the dollar isn't getting a lot of support even though economic data has been positive.
Australia Q4 Construction Work Falls 0.2%
Wed, 22 Feb 2017 01:29:36 +0000
The total value of construction work done in Australia fell a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday - standing at A$46.263 billion.
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