US President Donald Trump riled markets by his comments yet again. The resulting bid for haven allowed the Japanese yen to gain on the US dollar and some other currencies, like the Great Britain pound. Japan’s macroeconomic data helped the Japanese currency as well. Trump threatened to shut the government down if it will not fund the wall between the United States and Mexico, which was the focus of his election campaign. Additionally, … “USD/JPY Lower After Trump’s Comments, Japan’s Manufacturing PMI”
Month: August 2017
Canadian Dollar Touches Highest Level in Three Weeks on Strong Retail Sales
The Canadian dollar rose against its US counterpart on Tuesday to touch the highest level in three weeks. The loonie also had broad gains against other major peers as Canadian core retail sales posted a strong increase in June, according to fresh data released today. Statistics Canada, the nationâs official statistical office, said earlier today in a report that retail sales edged 0.1% higher in June following a 0.5% increase … “Canadian Dollar Touches Highest Level in Three Weeks on Strong Retail Sales”
GBP/USD Tests New Lows Despite Positive UK Public Finances Data
The GBP/USD currency pair today hit new lows despite the release of positive public sector finances data by the Office for National Statistics. The pair’s decline was further precipitated by the higher buying pressure around the US dollar even as political tensions in Washington DC abate. The currency pair lost about 100 points at the height of its decline, which started at the beginning of today’s session. The currency pair’s bearish trend started in the Asian session … “GBP/USD Tests New Lows Despite Positive UK Public Finances Data”
Swiss Franc Demonstrates Uninspiring Perfomance
The Swiss franc’s performance was not impressive today despite the widening trade balance surplus. The Swissie fell against the US dollar and was little changed against most other rivals. The Federal Statistical Office reported that Switzerland’s trade surplus widened from CHF 2.76 billion to CHF 3.51 billion in July. That was above the median forecast of CHF 2.88 billion. But it looks like market participants … “Swiss Franc Demonstrates Uninspiring Perfomance”
EUR/USD Down After Economic Sentiment Disappoints
The euro fell against the US dollar today after the economic sentiment indicators for Germany and the whole eurozone disappointed. The currency fared better against most other rivals, even gaining on the vulnerable Great Britain pound. The ZEW Indicator of Economic Sentiment for Germany dropped from 17.5 to 10.0 in August, trailing the average forecast of 14.8. The eurozone sentiment indicator slid from 35.6 to 29.3, also falling below the analysts’ consensus estimate of 34.2. … “EUR/USD Down After Economic Sentiment Disappoints”
US Dollar Edges Lower as Political Tensions Reduce Appetite for Risk
The US dollar moved lower against the euro on Monday amidst light trading, as tradersâ appetite for the greenback weakened due to growing political tensions in the United States. The US currency also dropped against Canadaâs dollar, despite lower Canadian wholesale sales than expected in June. Last Friday, a White House spokeswoman announced that Chief Strategist Stephen Bannon is leaving his position after months of clashing with other … “US Dollar Edges Lower as Political Tensions Reduce Appetite for Risk”
USD: A Challenging September Before Better Prospects In Q4
The Jackson Hole Symposium is awaiting us at the end of the week, and already causing tensions for markets. What can we expect for the US dollar ahead of the big event and moving into September? Here is their view, courtesy of eFXnews: BNP Pariabs FX Strategy Research notes that the USD will face a … “USD: A Challenging September Before Better Prospects In Q4”
Great Britain Pound Mixed as Brexit Continues to Weigh
The Great Britain pound was mixed today as uncertainty associated with the Brexit continued to weigh on the currency. The European Union was complaining that during the Brexit negotiations Britain did not have a clear stance on many issues. As if to deflect such criticism, today the UK government released several papers detailing its view on various matters that should be negotiated with the EU. Still, concern remains that talks … “Great Britain Pound Mixed as Brexit Continues to Weigh”
Yen Gains During Quiet Monday’s Trading
The Japanese yen gained today amid quiet trading as geopolitical risks made investors stick to the safety of the currency. Tensions between US and North Korea continued to cause concerns on markets, though without major developments in the situation speculators paid somewhat less attention to it. Political turmoil in the United States, though, was still in the focus as Trump’s chief strategist Steve Bannon quit the office. Meanwhile, last week’s terrorist attack in Barcelona, … “Yen Gains During Quiet Monday’s Trading”
Canadian Dollar Climbs Against British Pound on Improved Inflation in July
The Canadian dollar surged against the British pound and the US dollar on Friday in the wake of a fresh reading for Canadian inflation, which showed that it had improved in July from a year earlier. The Canadian currency also rose against the US dollar and other major peers as investors became more optimistic that the Bank of Canada may increase its interest rates soon. Statistics Canada said in a press release today that the consumer … “Canadian Dollar Climbs Against British Pound on Improved Inflation in July”