While Australia’s economic calendar had no releases today, but China, Australia’s biggest trading partner, released important inflation data. The reports showed better-than-expected results, prompting the Australian dollar to rally. Yet the currency has lost its gains by now and is trading far below the opening level. The National Bureau of Statistics of China reported that the Consumer Price Index rose 2.1% in July, year-on-year, after increasing 1.9% … “Aussie Fails to Keep Gains Caused by China’s Positive Inflation Reports”
Month: August 2018
Cryptos are suffering this summer, September could be better
Cryptocurrencies have been hit hard by yet another delay of a decision on a Bitcoin ETF. A delay does not mean a rejection, and there are now two more critical dates to watch. An upwards move could start ahead of these dates. Ethereum was struggling with $400, and now the ETH/USD is around $350. Ripple, … “Cryptos are suffering this summer, September could be better”
Euro Declines Against Resurgent US Dollar Despite Mixed US Data
The euro today declined against a resurgent US dollar in the wake of the intensifying trade spat between the US and China. The EUR/USD currency pair headed lower in the late Asian session as the greenback rallied higher and the selling pressure increased during the early European session. The EUR/USD currency pair today declined from … “Euro Declines Against Resurgent US Dollar Despite Mixed US Data”
NZ Dollar Tanks, Hurt by Dovish RBNZ
The New Zealand dollar plummeted today following the monetary policy announcement of the Reserve Bank of New Zealand released by the end of yesterday’s trading session. While the central bank left its monetary policy unchanged, the statement was more dovish than market participants had expected. The RBNZ left its main interest rate at 1.75%, in line with market expectations. Yet the statement by Governor Adrian Orr was surprisingly dovish, saying … “NZ Dollar Tanks, Hurt by Dovish RBNZ”
Bitcoin: ETF news is everything that matters – here is everything you need to know
The ups and downs in the prospects of a Bitcoin ETF have rocked cryptocurrencies. So far, requests have been rejected, but a lot of progress has been made. Here is everything you need to know about the topic. Many factors are moving the price of Bitcoin and other cryptocurrencies such as Ethereum and Ripple. Real-world usage, regulation, hacks, scaling, … “Bitcoin: ETF news is everything that matters – here is everything you need to know”
3 reasons why the USD will likely remain strong until late October / early November
The US Dollar remains dominant, and each breather looks like a buying opportunity. There are three central drivers, and they are set to continue for at least a few more months. Things may materially change in the middle of the autumn. US Dollar strength is a prominent feature for quite a few months. Each time … “3 reasons why the USD will likely remain strong until late October / early November”
Japanese Yen Affected by Balance of Payments, Looks Ahead to GDP Data
The Japanese yen tumbled midweek after the countryâs balance of payments for June missed market forecasts. Investors will now look ahead to Japanâs second quarter gross domestic product (GDP) numbers to find direction in the currency. According to the US Department of Commerce, the US goods trade deficit with Japan declined 3.4% in June to $5.31 billion, but there has been a year-over-year jump of 1.9% to $34.6 billion in the first half of 2018. … “Japanese Yen Affected by Balance of Payments, Looks Ahead to GDP Data”
Sterling Pound Tumbles to 11-Month Lows on Negative Sentiment
The Sterling pound today dropped to new 11-month lows following the resurgence of the US dollar amid negative investor sentiment towards the pound. The GBP/USD currency pair was weighed down by the looming fears of a no-deal Brexit as well as the ongoing trade standoff between the US and China. The GBP/USD currency pair today … “Sterling Pound Tumbles to 11-Month Lows on Negative Sentiment”
NZ Dollar Mixed After Macroeconomic Data & Ahead of RBNZ
The New Zealand dollar was mixed today after decent macroeconomic data and ahead of the central bank’s monetary policy meeting. The Reserve Bank of New Zealand inflation expectations in the September quarter for the next two years remained basically unchanged at 2.0%. Released yesterday, the GlobalDairyTrade Price Index showed no change. Dairy prices dropped 1.7% in the previous reporting period. The trade balance of China, New Zealand’s major trading partner, showed … “NZ Dollar Mixed After Macroeconomic Data & Ahead of RBNZ”
Australian Dollar Mixed-to-Lower After RBA, Macroeconomic Data
The Australian dollar was little changed against most of its major rivals today but dropped versus the Japanese yen. Today’s macroeconomic data was rather poor, weighing on the currency. Yesterday, the Reserve Bank of Australian announced its policy decision. The central bank made no surprises, leaving interest rates stable and keeping the statement largely unchanged, reinforcing the view that the RBA will hike interest rates in the second half … “Australian Dollar Mixed-to-Lower After RBA, Macroeconomic Data”