The Turkish lira jumped sharply today after the Turkish central bank performed an emergency interest rate hike following data that showed accelerating inflation. The Central Bank of the Republic of Turkey raised its policy rate from 16.5% to 17.75% at today’s emergency meeting. The announcement …
The Japanese yen posted losses against its major rivals during the Wednesday’s trading session, dragged down by poor domestic macroeconomic data and the positive market sentiment. Japan’s Ministry of Health, Labour and Welfare reported that average cash earnings rose 0.8% in April from …
The euro today rallied higher against the US dollar after it was confirmed that the European Central Bank was considering ending its massive quantitative easing program. The news confirmed a report that was circulating on Tuesday about the possibility of such action by the ECB. …
The Swiss franc was extremely weak today despite the better-than-expected inflation data released in Switzerland over the current trading session. The Swiss Federal Statistics Office reported that the Consumer Price Index rose 0.4% in May from the previous month, accelerating from April’s 0.2% …
The Australian dollar gained on most of its major peers today after a report showed that Australia’s economy was growing faster than expected last quarter. The Australian Bureau of Statistics reported that gross domestic product grew 1.0% in the March quarter of 2018 from …
The Canadian dollar fell against its major rivals on Tuesday amid concerns about trade wars between the United States and their allies, Canada being one of them. The drop of crude oil added to the currency’s woes. The Canadian economy heavily depends on trade with the USA, …
The US dollar was rather soft due to concerns that potential trade wars between the United States and their allies can damage the US economy. Positive domestic macroeconomic data was unable to bolster the greenback. Mexico announced that it is going to put …
The EUR/USD currency pair today rallied higher in the early European session following the release of mixed PMI data from across the Eurozone by IHS Markit. The currency pair’s initial rally was further boosted by the weaker US dollar as tracked by the US Dollar Index whose recovery …
The British pound today rallied higher after the release of the UK Services PMI for May by IHS Markit, which beat expectations by a significant margin. The positive PMI data served to raise expectations of a rate hike by the Bank of England in the near future as the country’s GDP growth rebounds in the current …
The Australian dollar retreated against its most-traded peers today after the monetary policy meeting of the Reserve Bank of Australia. Mixed macroeconomic data did not provide support to the currency. The RBA left its main interest rate at 1.5%, surprising no one with such …