The Malaysian ringgit touched the lowest level in four months today but has managed to recover by now. Last week, former Prime Mister Mahathir Mohamad surprised many analysts by winning the seat again, but this time as a member of the opposition coalition. Market participants were concerned that the first shift in power since the country got independence means significant uncertainty. That hurt the currency, but it looks like the market … “Malaysian Ringgit Recovers After Touching Four-Month Low”
Month: May 2018
Japanese Yen Drops as USA Make Concessions to China
The Japanese yen traded broadly lower today after the news that the United States made some concessions to China in the trade talks. Japan’s macroeconomic data was unable to support the currency. The market sentiment improved after US President Donald Trump twitted about helping China’s ZTE Corporation. ZTE Corp is a Chinese multinational telecommunications equipment and systems company. The company was selling US goods to Iran illegally, which … “Japanese Yen Drops as USA Make Concessions to China”
Correction or crash? US Retail Sales to set new course for the dollar
All measures of Retail Sales are expected to rise, but with a significant variation. The Control Group measure holds the key to the reaction. The US Dollar made a significant correction on the previous critical figure and awaits the verdict from this report. The US Retail Sales are published on Tuesday, May 15th, at 12:30 … “Correction or crash? US Retail Sales to set new course for the dollar”
US Dollar Enters Consolidation, Ending Week Flat
The US dollar entered a consolidation mode, ending the week flat against most of its major rivals. As for other currencies, the Canadian dollar and the Great Britain pound were the strongest, while the New Zealand dollar ended the week extremely soft. The greenback was rising in the first half of the week, but reversed the rally after consumer inflation data came out weaker than was expected. Still, the currency remained supported by the policy outlook. … “US Dollar Enters Consolidation, Ending Week Flat”
US Dollar Declines on Friday, Heads to End Week Flat
The US dollar extended yesterday’s decline today, heading to end the week flat versus most of its major rivals. The dollar remained extremely soft following the Thursday’s worse-than-expected inflation data. Today’s reports were decent for the most part as both import and export prices were rising, while the consumer sentiment remained unchanged despite forecasts of a decline. The Survey of Consumer Sentiment by the University of Michigan provided interesting insights into consumer expectations: … “US Dollar Declines on Friday, Heads to End Week Flat”
Canadian Dollar Drops Against US Dollar on Disappointing Jobs Report
The Canadian dollar today registered a significant loss against its American counterpart following the release of Canada’s April employment report in the early North American session. The loonie was stronger against the greenback in the Asian to mid-European sessions backed by the weakening US dollar following yesterday’s mixed US CPI report. The USD/CAD currency pair today rallied from a low of 1.2726 to a high of 1.2795 after the disappointing Canadian jobs report. The currency pair … “Canadian Dollar Drops Against US Dollar on Disappointing Jobs Report”
Australian Dollar Mixed After Poor Housing Data
The housing report released in Australia today was very poor and missed already pessimistic expectations. Yet the Australian dollar was mixed, falling against some rivals, but managing to etch gains versus others. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans dropped by 2.2% in March following the 0.2% fall in February. Analysts had predicted a bit smaller drop by 1.9%. AUD/USD was up from … “Australian Dollar Mixed After Poor Housing Data”
NZ Dollar Fails to Rally on Positive Manufacturing PMI
The New Zealand dollar attempted to rally today on the back of the very good manufacturing report, but failed, and is now trading lower against most rivals with the exception of the very soft US dollar. The seasonally adjusted Performance of Manufacturing Index reported by Business NZ climbed to 58.9 in April from 53.1 in March. That was the highest level since January 2016. At the same time, food prices rose just 0.1% last … “NZ Dollar Fails to Rally on Positive Manufacturing PMI”
USD: April CPI Tilts The Odds In Favor Of 2 More Fed Hikes This Year Rather Than 3 – CIBC
US Core inflation came out at 2.1%, below expectations. What does it mean for the greenback going forward? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today’s US CPI report for the month of April. “Slowly but surely, inflation is heating up. US consumer prices advanced 0.2% in April, leaving … “USD: April CPI Tilts The Odds In Favor Of 2 More Fed Hikes This Year Rather Than 3 – CIBC”
US Dollar Retreats as Inflation Misses Expectations
The US dollar fell against its most-traded rivals (with the exception of the extremely weak Great Britain pound) after US inflation missed expectations. The Bureau of Labor Statistics reported that the Consumer Price Index rose 0.2% in April on a seasonally adjusted basis following the 0.1% decline in March. It was a slower rate of growth than 0.3% predicted by experts. The core CPI rose 0.1%, also missing expectations — 0.2%. Analysts … “US Dollar Retreats as Inflation Misses Expectations”