The euro jumped against the dollar on Thursday after the European Central Bank said it could revisit its communication stance in early 2018, boosting expectations that policymakers are preparing to reduce their vast monetary stimulus program.
The dollar fell on Thursday, failing to hold the previous session's gains on the back of upbeat U.S. data and minutes from the Federal Reserve, as the euro resumed a rally that has taken it close to its highest levels in three years.
The Pound will rise against the Euro in the year ahead as markets awake to the realization the UK is headed for the "softest of all possible Brexits", say strategists at BMO Capital Markets, the investment banking unit of Bank of Montreal.
The U.S. dollar gained against the euro on Thursday after the European Central Bank raised growth and inflation forecasts for the euro area, but stuck with its pledge to provide stimulus for as long as needed.
Foreign Exchange Market (Forex): EUR/USD fell slightly during the session on Wednesday, as we look likely to roll over due to the recent sell off that we have seen due to a more dovish Mario Draghi than previously expected.
Foreign Exchange Market (Forex): The dollar held weaker against the yen on Thursday in Asia as investors looked ahead to an announcement on the new Fed chief by President Donald Trump possibly this week.
Foreign Exchange Market (Forex): The United States dollar was weaker versus major rivals on Wednesday after the release of minutes from the latest Federal Reserve meeting showed consensus gelling around one more rate increase this year but tempered by concerns about sluggish inflation.
Foreign Exchange Market (Forex): The Dollar Spot Index has a heavy bias towards the EUR and, with the EUR one of the favoured funding currencies in carry trades, unsurprising considering the negative deposit rate and record low interest rate; bouts of risk aversion reverse carry trades driving demand for the EUR.
Foreign Exchange Market (Forex): The United States dollar shone while Asian shares slipped slightly on Thursday after the United States Federal Reserve announced a plan to start shrinking its balance sheet and signaled one more rate hike later this year.
Foreign Exchange Market (Forex): The dollar briefly spiked before retreating against a basket of the other major currencies on Thursday after the latest United States inflation report showed that consumer prices rose in August at the fastest rate since January.
Foreign Exchange Market (Forex): European Central Bank (ECB) Governing Council member Ewald Nowotny said last week that the euro's recent rise shouldn't be "over-dramatized," a notion that economists seem to agree with.
Foreign Exchange Market (Forex): The dollar continued its comeback from a two-and-a-half-year slump, buoyed by a pair of economic reports that topped economists' forecasts, raising investor expectations for solid third-quarter economic growth.
Foreign Exchange Market (Forex): The dollar traded near three-week highs against a basket of global currencies on Wednesday, after recent economic data pointing to a strengthening United States economy lifted expectations of a third rate hike later this year.
Foreign Exchange Market (Forex): The dollar eased from session highs against a basket of global currencies on Wednesday, as geopolitical tensions between the U.S. and North Korea intensified, lifting investor demand for safe havens like gold and the yen.
Between our Fed holding the line on rate hikes and Mario Draghi insinuating the QE will end for the Euro zone later this year, the U.S. Dollar has been slammed more than it should and European currencies soared to heights they should not have.
Foreign Exchange Market (Forex): Trading the United States dollar on the short side has been a winning trade in 2017, but some technical analysts argue the greenback's weakness is now substantially overdone.
Foreign Exchange Market (Forex): The dollar hit a four-month high against the yen and global equity markets edged up on Tuesday as investors awaited testimony by Federal Reserve Chair Janet Yellen this week and any signs of tighter United States monetary policy.
Foreign Exchange Market (Forex): The dollar traded above breakeven against a basket of global currencies on Wednesday, despite United States factory orders in May undershooting expectations ahead of the release of the minutes from the Federal Reserve's June meeting.
Foreign Exchange Market (Forex): The euro rose on Thursday alongside sterling and bond yields as a slew of hawkish comments from central banks signaled the era of ultra-loose monetary policy is ready to sunset across the Atlantic.
Foreign Exchange Market (Forex): The dollar climbed to two-week highs against other major currencies on Thursday, as a string of upbeat United States data and the Federal Reserve's decision to raise interest rates continued to support.
Foreign Exchange Market (Forex): The euro was lower against the dollar on Thursday after the European Central Bank downgraded its inflation forecast for the next three years, but also tweaked its guidance on rates, dropping a pledge to cut rates again if needed. EUR/USD was trading at 1.1219 by 09.17 AM ET, off 0.32% for the day after initially touching lows of 1.1196.
Foreign Exchange Market (Forex): The dollars pushed higher against other major currencies on Thursday, helped by the release of upbeat United States jobs data and as investors were now eyeing Friday's highly anticipated nonfarm payrolls report. EUR/USD slid 0.34% to 1.1205.
Foreign Exchange Market (Forex): The dollar traded flat on Wednesday, as investors opted for caution, despite hawkish comments from Philadelphia Federal Reserve head, Patrick Harker, ahead of the release of the Fed's minutes to its May meeting.