The Australian dollar declined against its major rivals today despite a positive economic report released in Australia during the current trading session. Australia’s Producer Price Index rose 0.6% in the December quarter of 2017 from the previous three months. That was a bigger increase than 0.4% predicted by analysts and 0.2% registered in the September quarter. Yet the Aussie did not respond to the helpful data, extending its drop. Market experts … “Australian Dollar Doesn’t Find Help from Positive PPI”
Month: February 2018
Pound Rallies Against US Dollar on Strong UK Housing Data
The British pound today rallied higher against the US dollar in the early European session despite the release of weak UK manufacturing data. The pound’s rally was largely triggered by the weaker US dollar and positive UK housing data released by Nationwide Building Society earlier in the session. The GBP/USD currency pair rallied higher by over 110 points from a daily low of 1.4159 to hit a high of 1.4275 in the early European session. The currency pair … “Pound Rallies Against US Dollar on Strong UK Housing Data”
Positive Economic Data Doesn’t Prevent Slump of Australian Dollar
The Australian dollar slumped against virtually all of its major rivals today even though domestic macroeconomic data was supportive for Australia’s currency for the most part. The Australian Industry Group Australian Performance of Manufacturing Index climbed from 56.2 in December to 58.7 in January. The Import Price Index rose by 2.0% in the December quarter from the previous three months after falling by 1.6% in the September quarter. The Index of Commodity Prices declined 0.6% … “Positive Economic Data Doesn’t Prevent Slump of Australian Dollar”
Chinese Yuan Retreats vs. US Dollar Even as China’s Manufacturing Grows
The Chinese yuan fell against the US dollar today despite the relatively positive report about China’s manufacturing sector. The seasonally adjusted Caixin China General Manufacturing PMI was at 51.5 in January, unchanged from December and in line with expectations. The report said: Chinaâs manufacturing sector continued to expand at the start of 2018, with production rising to the greatest extent in just over a year. Yet the support from the positive data was … “Chinese Yuan Retreats vs. US Dollar Even as China’s Manufacturing Grows”