The Canadian dollar fell against most of its major peers on Tuesday, following a report that revealed that gross domestic product in the United States, Canadaâs biggest trade partner, was weaker than expected. Another report in Canada, which showed healthy inflation in the manufacturing sector, failed to push the loonie into the positive territory. The US Bureau of Economic Analysis released a report containing its second estimate for gross domestic product … “Canadian Dollar Retreats on Weak US GDP, Despite Positive Manufacturing Prices Data”
Month: February 2017
AUD/USD Trades in a Range Ahead of Australia’s GDP Announcement
The AUD/USD currency pair was trading within a range for the better part of today’s session even as markets await the release of GDP data for the last quarter of 2016 early tomorrow morning. The Aussie failed to capitalize on a weaker US dollar even as markets await Donald Trump‘s speech before congress scheduled for later today. The AUD/USD was trading in a range between 0.7662 and 0.7695. The currency pair was unable to break above the upper resistance level … “AUD/USD Trades in a Range Ahead of Australia’s GDP Announcement”
Britain’s Sterling Soft During Tuesday’s Choppy Trading
The Great Britain pound was vulnerable during Tuesday’s choppy trading, dragged down by concerns about the future of Britain after it leaves the European Union. The currency dropped against such rivals as the US dollar, the euro, and the Japanese yen. Today, trading was a bit slower than usual as traders were waiting for the speech of US President Donald Trump that he is going to deliver during the Wednesday’s Asian trading session. … “Britain’s Sterling Soft During Tuesday’s Choppy Trading”
Will Trump end his market rally in the speech to
US President Donald Trump speaks to a joint session of Congress during the usually quiet hours of the Asian session in a speech that is anticipated to touch on many economic priorities. Nearly 40 days into his presidency and nearly four months after winning the elections, will we get a definitive Donald Disappointment? Or will he say the world … “Will Trump end his market rally in the speech to”
US Dollar Drops Against Euro on Concerns Towards Trump Speech
The US dollar weakened against the euro and other major peers on Tuesday, but managed to limit its losses as an index that tracks consumer confidence improved in February. The greenbackâs decline followed nervous anticipation for Donald Trumpâs address to Congress, in which the president expected to reveal more details on his tax reform plans. Investors are concerned that Trumpâs speech might disappoint the market by having a strong protectionist tone that focuses … “US Dollar Drops Against Euro on Concerns Towards Trump Speech”
NZD Flat vs. USD, Lower vs. EUR & JPY amid Unfavorable Fundamentals
The New Zealand dollar was almost flat against its US counterpart but fell against such currencies as the euro and the Japanese yen amid underwhelming domestic macroeconomic data and the unfavorable general market sentiment. The New Zealand trade balance logged a deficit of NZ$285 million in January — a sharp increase from the previous month’s gap of NZ$36 million. The ANZ Business Confidence slid from 21.7 in January to 16.6 in February. The main contributor … “NZD Flat vs. USD, Lower vs. EUR & JPY amid Unfavorable Fundamentals”
Yen Goes Higher in Risk-Averse Environment
The Japanese yen gained on its most-traded peer’s during the Tuesday’s trading session as the risk-averse trading environment made more desirable currencies associated with safety. Traders were growing increasingly nervous ahead of the speech of US President Donald Trump that he is going to deliver before the Congress later today. Concerns about the political climate in Europe, while eased a bit, also remained a negative factor for the market sentiment, bolstering … “Yen Goes Higher in Risk-Averse Environment”
Euro Climbs as Polls Show Lead of Macron Over Le Pen in French Elections
The euro climbed today after concerns about the outcome of the French presidential elections eased while economic data released from Europe during the trading session was decent enough to avoid hurting the currency. Polls showed that centrist candidate Emmanuel Macron has a lead over far-right anti-EU candidate Marine Le Pen. Considering that a victory of Le Pen, who has extreme plans of leaving the European Union, would … “Euro Climbs as Polls Show Lead of Macron Over Le Pen in French Elections”
AUD/USD: Trading the Chinese Caixin Manufacturing PMI
Chinese Caixin Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible … “AUD/USD: Trading the Chinese Caixin Manufacturing PMI”
Japanese Yen Edges Lower Against US Dollar Ahead of Retail Sales Data
The Japanese yen edged lower against the US dollar on Monday, after moving in and out of the negative territory multiple times today. Traders are keeping a close eye on two economic releases in Japan that are due to be released today, which could lend the yen more support. Japanâs Ministry of Economy, Trade, and Industry will release its preliminary reading for industrial production in January today, along with its report … “Japanese Yen Edges Lower Against US Dollar Ahead of Retail Sales Data”