The Canadian dollar has reasons to rise: the economy grew by 0.3% in December 2016, bang on expectations, but this came on top of an upwards revision for November. All in all, the Canadian economy enjoyed stronger-than-expected growth at 2% instead of 1.7% expected. On an annualized basis, the growth rate was 2.6%, beating predictions of 2%. [...]
The post USD/CAD at the highest in two months as falling oil beats rising growth appeared first on Forex Crunch.
No big surprises in euro-zone inflation: headline inflation continues rising, reaching 2% as expected. Core inflation remains stuck below 1%, with a third consecutive month at 0.9% y/y. PPI is up 0.7% m/m, above 0.6% expected. The unemployment rate is at 9.6%. EUR/USD is marginally lower. Euro-zone inflation was expected to move to a year [...]
The post Euro-zone inflation reaches 2% – EUR/USD remains depressed appeared first on Forex Crunch.
The second purchasing managers’ index for the UK comes out slightly better than markets had anticipated: 52.5 against 52.2 predicted. Yesterday’s manufacturing PMI disappointed but still stands at higher ground. The most important release awaits us tomorrow: the services PMI. GBP/USD remains on the back foot trading at 1.2275. Support awaits at 1.2250 and 1.2120. Resistance is [...]
The post UK construction PMI beats with 52.5 – GBP fails to be cheered appeared first on Forex Crunch.
