The Japanese yen fell against the US dollar today as nation’s inflation slowed last month. The currency also dropped against other rivals but has trimmed its gains by now, and against the euro it actually moved above the opening level. The Statistics Bureau reported that Japan’s core Consumer Price Index rose 0.9% in March from a year ago. Compared to the previous month, the index fell 0.1%. The Ministry of Economy, … “USD/JPY Rises as Japan’s Inflation Slows”
Month: April 2018
GBP/USD: Squeeze Has Some Room To Go On Fading Well-Populated Long Positions – TD
The pound suffered from stagnant wages, weak inflation, falling retail sales, a dovish Carney and worries about the Irish border. So, the falls may not be over just yet. Here is their view, courtesy of eFXdata: TD Research discusses GBP outlook and keeps flagging near-term downside risks, noticing that GBP continues to lag the broader … “GBP/USD: Squeeze Has Some Room To Go On Fading Well-Populated Long Positions – TD”
New Zealand Dollar Loses Gains Despite Positive CPI
The New Zealand dollar attempted to rally today, but failed and followed its Australian counterpart in decline. The currency dropped even as the inflation print came out better than expected. The Consumer Price Index rose 0.5% in the March quarter according to the data from Statistics New Zealand. It was a bigger growth than 0.4% predicted by economists and 0.1% registered in the previous three months. Yet some analysts pointed out that … “New Zealand Dollar Loses Gains Despite Positive CPI”
Australian Dollar Soft Following Disappointing Employment Report
The Australian dollar dropped following the release of a disappointing employment report. While the currency attempted to bounce afterwards, it failed and continued to move down, erasing the intraday gains. Australian employment grew by 4,900 jobs in March, far less than analysts had predicted 20,300. Furthermore, only part-time employment contributed to the increase as full-time employment actually dropped. And on top of that, the February reading got a massive negative revision from a solid growth … “Australian Dollar Soft Following Disappointing Employment Report”
British Pound Declines on Weak UK Retail Sales Data, Later Rallies
The British pound today declined against the US dollar following the release of disappointing UK retail sales data in the early European session. However, the pound recovered almost immediately and went on to hit a daily high in the mid-European session, before declining from the early American session. The GBP/USD currency pair today gained over 80 points to rally from a low of 1.4161 to a high of 1.4246, but was on a downtrend at the time of writing. The GBP/USD currency … “British Pound Declines on Weak UK Retail Sales Data, Later Rallies”
CAD: Balanced BoC Tone; Comfortable Keeping Our Call For A July Hike – CIBC
The Bank of Canada left rates unchanged and increased its estimate for the output gap. Nevertheless, the hawkish bias remains. What’s next? Here is their view, courtesy of eFXdata: CIBC Research discusses the reaction to today’s BoC policy meeting and notes that the BoC statement struck a fairly balanced tone today, which leaves CIBC comfortable with expecting … “CAD: Balanced BoC Tone; Comfortable Keeping Our Call For A July Hike – CIBC”
GBP/USD Likely To Break Below 1.40; EUR/GBP Likely Range-bound – TD
The pound received two blows: wage growth remained stagnant at 2.8% y/y and then inflation tumbled to 2.5% y/y, lower than early expectations. This weighs on the BOE’s rate decision in May. Here is their view, courtesy of eFXdata: TD Research discusses GBP outlook and keeps flagging near-term downside risks (see here), noticing that a mix … “GBP/USD Likely To Break Below 1.40; EUR/GBP Likely Range-bound – TD”
Euro Rallies Higher Against a Weakening US Dollar, Later Declines
The euro today rallied against the US dollar during the European session after the release of the final Eurozone CPI data. The euro was on a downtrend against the greenback during the Asian session following the risk-on sentiment in the global markets, which later resumed in the early American session. The EUR/USD currency pair today rallied by over 50 points from a daily low of 1.2341 to hit a high of 1.2397 in the early American session. The currency pair began … “Euro Rallies Higher Against a Weakening US Dollar, Later Declines”
British Pound Declines Against US Dollar on Weak UK Inflation Data
The British pound today dropped significantly against the US dollar following the release of disappointing UK Consumer Price Index data in the early European session. The pound’s decline started during yesterday session after the release of weak UK wages report and upbeat US housing report, which made the pound drop from its post-Brexit highs. The GBP/USD currency pair lost over 140 points to drop from a high of 1.4315 to a low … “British Pound Declines Against US Dollar on Weak UK Inflation Data”
Australian Dollar Soft After Leading Indicators Decline
The Australian dollar remained rather vulnerable today, falling against its most-traded rivals, though it remained slightly above the opening level versus the soft Japanese yen. The WestpacâMelbourne Institute Leading Index declined 0.22% in March from the previous month after rising 0.43% in February. The report explained the decline by the following reasons: Drivers of the slowdown in the month have been from the domestic components â a slowing labour market; and some weakness … “Australian Dollar Soft After Leading Indicators Decline”