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Tag Archives: eur

Dow Jones Goes Above 23,000 on IBM Surge

The Dow Jones Industrial Average rallied above the 23,000-mark on Wednesday, propelled by IBM’s 9 percent surge after the computing giant hinted a return to revenue growth. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 13, 2017. REUTERS/Brendan McDermid IBM shares (IBM.N) were on course to record their biggest percentage gain in more than eight years and accounted for nearly 95 ...

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Musical Chairs at the Fed

Musical Chairs at the Fed Fed Chair Intrigue  US Yields have been on the rise as has the USD but both still unable to breach any significant near-term level. Most are crediting the move to the increased likelihood of Robert Taylor becoming the Fed Chair and suggesting a more hawkish tilt to the FOMC. Indeed, a  rule-based viewpoint from the future sitting Fed Chair does ...

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DAX Quiet as German Final CPI Matches Estimate

The DAX is showing little movement in the Wednesday session. Currently, the index is at 12,988.50, up 0.04% on the day. On the release front, there is only one event out of the eurozone. German Final CPI posted a small gain of 0.1%, matching the forecast. The ECB will hold a critical policy meeting on October 26, but any hopes of a rate hike were dashed on Thursday by Mario Draghi. The ECB President...

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Dollar Mixed Ahead of US Inflation Indicator

Retail sales and inflation to make or break USD The US dollar is higher against the NZD, AUD, GBP and JPY but finds itself lower against the CAD, EUR and CHF. The currency did not build a lot of momentum after the release of the Federal Open Market Committee (FOMC) minutes released Wednesday. The US central bank remains committed to higher rates, but there ...

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US Unemployment Claims Fall More Than Expected

The number of Americans filing for unemployment benefits fell to more than a one-month low last week as claims in Texas and Florida continued to decline after being boosted by Hurricanes Harvey and Irma. Initial claims for state unemployment benefits decreased 15,000 to a seasonally adjusted 243,000 for the week ended Oct. 7, the lowest level since late August, the Labor Department said on Thursday. Data for the prior week was revised to show 2,000 fewer applications received than previously reported. A Labor...

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The Euro hold firm in Asia

On foreign exchanges, the euro edged up further after Catalan leader Carles Puigdemont adopted a more conciliatory tone in a speech on independence. The unit was at $1.1868 Thursday, well up from the low $1.17 mark seen last week, though well off the $1.2033 enjoyed in September. Later Spanish Prime Minister Mariano Rajoy gave him until next week to clarify whether he intends to push ahead with a breakaway, warning Madrid would ...

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Trump to Visit Asia in November

President Donald Trump will travel to Asia in November as he tries to curb North Korean aggression and potentially rework trade deals. The president will go to Japan, South Korea, China, Vietnam and the Philippines, as well as Hawaii, during the Nov. 3 to Nov. 14 trip, the White House said in a statement Friday. “The president’s engagements will strengthen the international resolve to confront...

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France and Germany to Reform EU After Brexit

French President Emmanuel Macron won backing from Angela Merkel for plans to reform the European Union after Brexit, founded on what the German chancellor called “intense” cooperation between Paris and Berlin. But many leaders remained wary of ambitious new projects, doubting the appetite of voters for giving up national control and fearing the continued strength of anti-EU sentiment that is taking Britain out of the bloc and saw the far-right win dozens of seats in the...

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Iraqi Kurdish Flight Ban Starts Today

A ban on international flights into Iraq’s Kurdish region was being imposed on Friday after the Baghdad government retaliated against a vote for independence that has drawn opposition from foreign powers. Iraq’s Kurds overwhelmingly backed independence in a referendum on Monday, defying neighboring countries which fear the vote could lead to renewed conflict in the region. Almost all foreign airlines suspended flights to Erbil and Sulaimaniya, obeying a notice from the government in...

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Week Ahead Geopolitics Dampen Dollar Rally

North Korea, Brexit and German elections distract from Hawkish Fed The US dollar is higher against major pairs at the end of trading on September 22. The NZD and the EUR are the main exceptions with elections in the next 48 hours in both regions. Parliamentary elections will begin in New Zealand on Friday, September 22. The ruling party is making a comeback in the polls and has given the Kiwi a boost, but the Labour party could still come up with ...

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