NEW YORK, July 29- The dollar dropped on Friday after data showed that the U.S. economy grew at a slower pace than expected in the second quarter, while the Japanese yen soared after the Bank of Japan's stimulus plans underwhelmed investors. U.S. gross domestic product increased at a 1.2 percent annual rate, the Commerce Department said. "There were some aspects of... » Read More
The dollar softened on Tuesday while the euro further struggled on expectations of soft inflation data and more monetary easing.
Investors are trying to get the S&P 500 Index through 2000 again, but I'm not sure there is a catalyst to keep it there given the mixed data.
One analyst has warned of a crowded trade in the euro currency that could spell pain for some investors if not treated with caution.
Steven Saywell, global head of FX strategy at BNP Paribas, says sterling has "a long way to go" to the upside against the euro as the Bank of England looks likely to be the first major central bank to hike interest rates.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a rally for the euro zone after Mario Draghi signals stimulus and a rise for Italian stocks.
You'd never know there was a shaky economy in the U.S. by driving around San Francisco, or even driving north of the city.
The euro fell to its lowest in nearly a year against a broadly firmer dollar on Monday after comments from the head of the European Central Bank.
Jesper Bargmann, head of Asia trading at Nordea Markets, said stronger economic data from the U.S., paired with any further stimulus from the Bank of Japan, could be the "perfect storm" for the yen.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a consolidation for European stocks and a decline for Russia related stocks.
Yellen's speech cited persistent labor market slack but noted faster recovery in the sector could accelerate the timing of a Fed interest rate hike.
Central bankers gathered for a three-day meeting in Wyoming that will feature a potentially market-rattling speech by Fed Chair Janet Yellen.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including, a dip for euro zone PMI and Italian banks rise.
The euro recovered from a 11-month low against the dollar, helped by better-than-expected German private sector growth data.
Michael Sneyd, FX analyst at BNP Paribas, says euro/dollar is a more attractive trade than cable as the Bank of England and Federal Reserve are both taking a hawkish stance.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a consolidation for European stocks after a two day rally and the euro breaks below $1.33.
Geoffrey Yu, FX strategist at UBS, says investors should be "cautious" on being long the dollar.
U.S. housing starts surged past expectations in July, snapping two straight months of declines.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the rebound of the German DAX and weaker U.K. inflation eases rate pressure.
The US dollar rose against a basket of major currencies on Monday on reduced concerns over Russia and Ukraine and positive US housing data.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a rally for European stocks as Ukraine tensions ease and London home owners slash prices.