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16 Mar 2015
Dollar longs trimmed on profit taking - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the American dollar has pulled back this Monday, in what seems a take-profit movement ahead of FOMC meeting later this week.
Key Quotes:
"Stocks bullish momentum can extend into the Asian session, dragging the JPY lower across the board. The EUR and the GBP however, are far from reversing as both currencies have stalled against the greenback, below last Friday's opening levels."
"The dollar corrected lower this Monday, extending its decline early in the US session, as the local data missed expectations. The NY Empire State Manufacturing survey indicated that the business activity expanded at a modest pace, reaching 6.9 in February against the 7.78 of the previous month, while Industrial Production fell in the same month for the third straight month, weighed by a tumble in automobile production."
"The weak data boosted equities, as the US indexes soared, amid diminishing chances of a hawkish FED this week, following sluggish economic growth figures."
Key Quotes:
"Stocks bullish momentum can extend into the Asian session, dragging the JPY lower across the board. The EUR and the GBP however, are far from reversing as both currencies have stalled against the greenback, below last Friday's opening levels."
"The dollar corrected lower this Monday, extending its decline early in the US session, as the local data missed expectations. The NY Empire State Manufacturing survey indicated that the business activity expanded at a modest pace, reaching 6.9 in February against the 7.78 of the previous month, while Industrial Production fell in the same month for the third straight month, weighed by a tumble in automobile production."
"The weak data boosted equities, as the US indexes soared, amid diminishing chances of a hawkish FED this week, following sluggish economic growth figures."