Euro Rallies on Strong Eurozone GDP Data
Due to inflation and GDP numbers that were higher than expected by the market on the last trading day of July, the euro appreciated against the dollar. According to figures from Eurostat, the Eurozone’s gross domestic product (GDP) increased by
Read MoreSouth African Rand Outperforms G10 Currencies
A day after the South African Reserve Bank (SARB) attempted to dampen domestic inflation expectations and prevent currency depreciation by implementing its highest interest rate increase in two decades, the South African Rand outperformed all other comparable currencies the following
Read MoreKiwi Dollar Rallies on Comforting Statement of Federal Reserve’s Officials
Before the weekend, the financial markets reacted favorably to robust statistics on the US economy’s growth as well as comforting comments from leaders of the Federal Reserve. This caused the New Zealand Dollar and other currencies to increase in value.
Read MoreEuro Could Lose Parity Against the US Dollar
The Euro barely escaped the psychologically critical threshold of parity versus the Dollar in the closing session of last week, but was last seen trying to fight off an appreciating dollar after the US non-farm payrolls numbers were overwhelmingly positive
Read MoreUS Manufacturing Index Hits Two-year Low in June
In the European session on Friday, the US dollar rose versus its main rivals as European markets sank on increasing concerns of a recession in the aftermath of a speedier policy tightening by major central banks to combat skyrocketing inflation.
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