Greenback stands still as American economy speeds down

Greenback stands still as American economy speeds down

On Thursday, the evergreen buck’s recent rally versus its counterparts was compensated by poor American economic data that disclosed that the American economy expanded at a slower-than-anticipated rate in the first quarter of 2018.

The USD index, gauging the greenback’s value versus a bunch of major currencies, tacked on by 0.14% being worth 94.89.

As a matter of fact, American gross domestic product speeded down to a 2% annual rate from January to March, as the Commerce Department informed on Thursday. It definitely confounded experts’ estimate of 2.2%.

As the US Department of Labor informed, initial jobless claims managed to tack on by 9,000 to a seasonally updated 227,000 by June 23. The given outcome turned out to be above experts’ estimate for jump to about 220,000.

In addition to this, the common currency managed to gain against the evergreen buck because market participants hurried to purchase the common currency in the face of data disclosing that inflation in some German regions happened to be above the ECB's objective.

The currency pair EUR/USD rebounded from a session minimum of $1.1527. The pair soared by 0.24% being worth $1.1581.

The currency pair GBP/USD, drifted away from seven-month minimums. The pair hit $1.3089, descending by 0.19% because probable Brexit-related headline risks from the European Summit have been restricted due to the fact that the European Union’s migrant downtime dominated discussions.

As for safe-haven currencies, they struggled to pare back dips from a day earlier. The currency pair USD/JPY went up by 0.08% reaching Y110.34, USD/CHF ascended by 0.04% showing 0.9975.

The currency pair USD/CAD dived by 0.68% hitting C$1.3250 because crude gave up some of its profits, putting pressure on the Canadian dollar in the face of reports the White House was about to make its tough stance on nations, importing Iranian crude softer.

 

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera