The Australian dollar fell against other major currencies today due to poor macroeconomic data in Australia as well as its biggest trading partner — China. The Westpac-Melbourne Institute Consumer Sentiment Index for Australia fell 0.6% in April after rising 0.2% in March. China’s Consumer Price Index rose 2.1% in March, year-on-year, slowing from the 2.9% inflation in February and missing the average forecast of a 2.6% increase. Meanwhile, the Producer Price Index rose … “Australian Dollar Falls After Poor Reports from Australia & China”
Month: April 2018
Japanese Yen Firm Despite Mixed Data, Positive Market Sentiment
The Japanese yen rallied against its most-traded rivals today despite mixed domestic macroeconomic data and the positive general market sentiment. The Producer Price Index rose 2.1% in March from the same month a year ago, matching expectations. Core machinery orders made by the private sector in February increased by 2.1% compared to January — a far better reading than a drop by 2.6% predicted by experts. Bank lending increased by 2.0% in March, year-on-year, … “Japanese Yen Firm Despite Mixed Data, Positive Market Sentiment”
British Pound Drops Slightly on Mixed UK Economic Releases
The British pound today dropped slightly against the US dollar following a deluge of mixed releases from the UK docket including the crucial manufacturing production data. The GBP/USD’s decline was further accelerated by profit taking as most traders closed their trades following the currency pair’s massive rally, which started on Friday last week. The GBP/USD currency pair declined from a high of 1.4223 in the early European session to a trade at a low of 1.4181 … “British Pound Drops Slightly on Mixed UK Economic Releases”
Property vs Shares: Which is a better investment?
When creating an investment, you want to ensure that you’ll get reliable income and capital returns over the long term. So what’s the best way to do this? Oddly enough, this important investment decision comes down to your personality type and the lifestyle you choose, as much as the market evidence. Who’s choosing property? Australians … “Property vs Shares: Which is a better investment?”
Canadian Dollar Rallies Against US Dollar Despite Weak Housing Data
The Canadian dollar today rallied against its US counterpart despite the release of weak Canadian building permits data by Statistics Canada driving the USD/CAD currency pair to 6-week lows. The release of positive US Producer Price Index data could not reverse the currency pair’s downtrend due to positive investor sentiment towards the loonie. The USD/CAD currency pair today lost over 75 points to decline from an opening high of 1.2705 … “Canadian Dollar Rallies Against US Dollar Despite Weak Housing Data”
FOMC minutes will try to balance between trade fears and optimism on the economy
The Fed publishes the meeting minutes from the first rate decision led by Powell. The focus is on inflation and also on the actions of the government. The US Dollar will look for any hints about a fourth rate hike in 2018. The Federal Reserve releases the FOMC Meeting Minutes on Wednesday, April 11th, at … “FOMC minutes will try to balance between trade fears and optimism on the economy”
GBP/USD: Bullish In April; All Cards Falling Into Short-Term Positives – ING
The pound is looking perky and this may happen for a good reason. April is a good month for Sterling. Here is their view, courtesy of eFXnews: ING Research discusses GBP/USD outlook and maintains a strong bullish bias for the month of April. “All the cards are falling into place for GBP/USD to post a … “GBP/USD: Bullish In April; All Cards Falling Into Short-Term Positives – ING”
US Dollar Ends Week Mixed, Canadian Dollar Strongest
The US dollar ended the week mixed, rising against such majors like the euro and the Japanese yen, but falling versus such currencies like the Great Britain pound and the Canadian dollar. While nonfarm payrolls was the main economic release during the past week, traders paid more attention to escalation of trade war rhetoric between the United States and China. China and the USA were exchanging back and forth with more and more … “US Dollar Ends Week Mixed, Canadian Dollar Strongest”
Canadian Dollar Falls Even As Employment Grows
The Canadian dollar fell on Friday despite better-than-expected employment data. Other economic reports were not that good, though, and there were other fundamental factors that might have caused the decline. Canada’s employment grew by 32,300 jobs in March, beating the consensus forecast of a 20,100 increase. The unemployment rate remained at 5.8% and its average level in the first quarter of this year was the lowest since mid-1970s. Meanwhile, the Ivey PMI … “Canadian Dollar Falls Even As Employment Grows”
Euro Rallies Against US Dollar on Weak US Employment Data
The euro today rallied against the US dollar following the release of disappointing US non-farm payrolls report for March. Earlier Markit Economics PMI releases covering the European docket had triggered the euro’s initial uptrend following a major decline during the Asian session. The EUR/USD currency pair gained over 60 points to rally from a low of 1.2215 to a high of 1.2280 at the time of writing. The currency pair had rallied briefly earlier following … “Euro Rallies Against US Dollar on Weak US Employment Data”