The EUR/USD’s ascent began in earnest after the result of the first round of the French election was sealed. The pair opened almost a cent and a half higher on the Monday after the election, rewarding euro bets the protectionist Le Pen would be the loser and the euro-centric Macron would push ahead with his … “Don’t have pity for stubborn US dollar bulls”
Month: August 2017
Chinese Yuan Strengthens as Manufacturing Growth Accelerates
The Chinese yuan edged higher against the US dollar after a private report showed that expansions of the nation’s manufacturing sector accelerated last month. The Caixin China General Manufacturing PMI rose from 50.4 in June to 51.1 in July. It showed the fastest pace of growth in four months. Released yesterday, the official manufacturing Purchasing Managers’ Index slipped from 51.7 in June to 51.4 in July. USD/CNY slid 0.1% to 6.72 as of 11:49 … “Chinese Yuan Strengthens as Manufacturing Growth Accelerates”
Australian Dollar Fails to Bounce After RBA Meeting
The Australian dollar went down today after rising at the start of the trading session. The currency attempted to rebound after the central bank’s policy meeting, but the bounce was extremely short-lived. The Reserve Bank of Australia kept its key interest rate at 1.5% at today’s meeting as was widely expected. The central bank was not particularly concerned about slowing inflation, saying: Inflation is expected to pick up gradually as the economy strengthens. … “Australian Dollar Fails to Bounce After RBA Meeting”