The Canadian dollar today weakened against the US dollar after the release of weak Canadian CPI and retail sales data by Statistics Canada. Other releases from the US docket such as the Markit US Manufacturing PMI also served to boost the US dollar against its Canadian counterpart. The USD/CAD currency pair opened today’s session on a downtrend, but quickly changed course after the Canadian and US releases to recover most of its earlier … “Canadian Dollar Weakens Against US Dollar on CPI and Retail Sales Data”
Month: September 2017
Japanese Yen Rallies After Trump Orders New Sanctions Against North Korea
The Japanese yen rose today as tensions between the United States and North Korea continued to escalate, making safe assets more appealing to investors. US President Donald Trump ordered new sanctions against North Korea in an attempt to dissuade the rogue nation from performing nuclear tests. Earlier this week, he threatened to “totally destroy” North Korea. In a response, North Korean leader Kim Jong Un called Trump “mentally … “Japanese Yen Rallies After Trump Orders New Sanctions Against North Korea”
Australian Dollar Steady Following China’s Rating Downgrade by S&P
The Australian dollar gained on its US counterpart today. The currency slid against other rivals intraday but is has bounced by now. Yesterday, the Aussie dropped more than 1% following China’s credit rating downgrade by Standard & Poor’s. S&P announced yesterday: S&P Global Ratings lowered the long-term sovereign credit ratings on China to ‘A+’ from ‘AA-‘ and the short-term rating to ‘A-1’ from ‘A-1+’. The outlook on the long-term … “Australian Dollar Steady Following China’s Rating Downgrade by S&P”
Euro Rallies Against US Dollar on Mario Draghi Speech
The euro today rallied briefly against the US dollar after Mario Draghi‘s speech at the second annual conference of the European Systemic Risk Board in Frankfurt. The EUR/USD currency pair was on a recovery mode throughout today’s session after a major decline triggered by yesterday’s FOMC rate decision. The EUR/USD currency pair was on a recovery path today gaining about 74 points at the height of its rally as the euro gained against the US dollar. … “Euro Rallies Against US Dollar on Mario Draghi Speech”
GBP/USD Trades Sideways After Post-FOMC Slide
The GBP/USD currency pair today traded sideways after a major down slide occasioned by yesterday’s FOMC statement, which outlined a hawkish tone. The release of the public sector borrowing by the Office for National Statistics had minimal impact on the British pound even as the US dollar held on to gains made yesterday. The GBP/USD currency pair traded in a narrow 45-point range with resistance being established around 1.3515 and support being established at 1.3470. The British … “GBP/USD Trades Sideways After Post-FOMC Slide”
EUR/USD: Post-FOMC Dip To Prove Shallow Before A Recovery
EUR-USD reacted negatively to the relatively hawkish Fed decision and dropped to support. Can it last? The team at Danske has doubts. Here is their view, courtesy of eFXnews: Danske Research comments on today’s FOMC September decision noticing that markets interpreted it hawkishly by sending EUR/USD lower and US Treasury yields higher. “EUR/USD fell below … “EUR/USD: Post-FOMC Dip To Prove Shallow Before A Recovery”
USD/CAD: Confined To A 4-Cent Range; What’s Next? – TD
The Canadian dollar rallied on the BOC hike but stalled afterward. What is the next move? Here is their view, courtesy of eFXnews: TD FX Strategy Research notes that USD/CAD has been confined to a four cent range as of late and this underscores the fact that the pair is looking for fresh impetus given the cross … “USD/CAD: Confined To A 4-Cent Range; What’s Next? – TD”
EUR/USD Trades Sideways as Markets Await FOMC Rate Decision
The EUR/USD currency pair was today trading sideways as the markets await the Fed interest rate decision scheduled for later today. The currency pair’s slight upward momentum was largely due to previous releases, which highlighted a positive outlook for most EU economies. The currency pair was trading within a 32 point range with the support being established around 1.1990 and resistance being capped at 1.2022. The positive sentiment around the euro … “EUR/USD Trades Sideways as Markets Await FOMC Rate Decision”
NZ Dollar Rises to Highest in More Than a Month
The New Zealand dollar rose today, reaching the highest level since August 7 and gaining for the fourth consecutive day on the Japanese yen. The currency got support from opinion polls regarding the upcoming general election in New Zealand and the current account report. The election will take place on September 23. According to the poll released by One News-Colmar Brunton, support for the ruling National Party increased by 6 points to 46%, while support for the opposition … “NZ Dollar Rises to Highest in More Than a Month”
Pound Struggles to Keep Gains Caused by Retail Sales Data
The Great Britain pound climbed today after retail sales rose last month much more than was anticipated. The currency trimmed its gains by now, losing them against the Japanese yen completely. The Office for National Statistics reported that retail sales grew 1.0% in August from the preceding month compared to the medium forecast of 0.2%. On top of that, the July increase was revised from 0.3% up to 0.6%. The positive … “Pound Struggles to Keep Gains Caused by Retail Sales Data”