Another day, another selloff! The Greenback ended the day in the red against its rivals once more as economic data came in mostly weaker than expected.
For one, the employment cost index for Q4 fell short of estimates with a 0. Meanwhile, the Chicago PMI posted a steep drop from Components of the report revealed that a downturn in demand was to blame as the index for new orders fell 7. Lastly, the CB consumer confidence index tumbled from a downgraded The employment change reading came in line with expectations of a 0.
Underlying data showed that this was due to a huge increase in labor force participation as the rate rose 0. Wage growth was also steady as the labor cost index rose 0.
In a speech that was supposedly about pharmaceutical companies, U. President Trump veered off script and started rambling about how other countries, particularly China and Japan, have been using currency devaluation as a strategy to take jobs and companies away from the homeland.
A lot of it has to do with regulation, a lot of it has to do with other countries take advantage of us with their money and their money supply and devaluation.
Our country has been run so badly, we know nothing about devaluation; every other country lives on devaluation. Some things just go well together. In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.
Article Highlights Canadian economy grew by 0. CB consumer confidence down from Partner Center Find a Broker. Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies. More from Pip Diddy. It is never too late to be what you might have been.More...