Posts From Sammy

Sammy

Sammy

Sammy is our forex expert, with over 20 years experience in the financial sector, she will be keeping you up to date with the ups and downs of currencies around the world

Pound Strengthens on Surge in UK Mortgage Approvals in June

  The pound gained against the greenback yesterday after the Bank of England reported better-than-anticipated mortgage approvals and net lending data for June. Notably, all the economic data from the US, namely goods trade balance, preliminary wholesale inventories, and pending

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European Central Bank’s Current Account Surplus Falls in May

  The Eurodollar rose against the yen in the Asian session yesterday after the Japanese trade deficit data missed economists’ estimates. However, the report of lower-than-anticipated PPI data from Germany and a sharp decline in the Eurozone’s current account surplus

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EC President Presents €1.074 Trillion COVID-19 Recovery Package

  The Australian dollar rallied against the euro dollar in the Asian session on Monday as expectations for a COVID-19 drug improved risk-on sentiment. However, the euro dollar was able to bounce back after the Economy Ministry of Germany, the

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Australian Building Approvals Decline By 16.4% m-o-m in May

  The Aussie rallied against the greenback yesterday despite the release of worse-than-anticipated building approval data by the Australian Bureau of Statistics (ABS). The release of positive but lower-than-anticipated ADP Non-Farm Employment data from the US aided the Australian dollar’s

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EUR/USD Drops as U.S.A Mulls Import Duties On European Goods

  The euro dollar declined against the greenback yesterday despite the release of better than anticipated Ifo Business Climate index data from Germany. Even the data published by the National Bank of Belgium indicated an improvement in business conditions. The

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Pound Rebounds From 3-Month Low On Likely Brexit Solution

  The British pound rallied against the greenback yesterday, mainly due to optimism about a possible solution to the Brexit issue. A slight improvement in order backlog data, even though negative, also fueled the pound’s uptrend. Furthermore, the existing home

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Pound Drops on Release of Low Consumer Price Inflation Data

  The British pound fell against the greenback after the release of four-year low consumer price inflation data. Additionally, the producer price index and retail price index data also missed estimates. Notably, the US housing starts data for May was

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Canadian Manufacturing Sales Plunge 28.5% Month-Over-Month in April

  The euro dollar gained against the Canadian dollar after Statistics Canada reported worse than anticipated manufacturing sales for April. Notably, the trade balance data from the euro zone was also well below the market’s expectations. Nevertheless, being a trade

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US Fed Sees No Rate Hike Through 2022

  The Chinese yuan strengthened slightly against the greenback yesterday after the PBoC (People’s Bank of China) set the onshore rate at 7.0703. Notably, the US dollar saw a broader sell-off ahead of the conclusion of the FOMC (Federal Open

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Japan GDP Contracts Lower Than The Initial First Quarter Estimates

  The Euro dollar fell against the yen yesterday after the release of worse-than-anticipated contraction of German industrial activity and continuing pessimism among investors about the Eurozone economy, despite an improvement from the previous reading. Notably, during the Asian session,

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