This Italian GDP release could have a significant impact on the on the Euro. Without better numbers, the clash on the budget will likely continue. Italy is the euro zone’s third-largest economy, and its economic figures rarely move the Euro. But the preliminary publication for Q3 2018, due on October 30th, will be different. Very … “This Italian GDP could move the Euro quite a bit”
Month: October 2018
Pound Trades Sideways on BoE Credit Data Ahead of Budget Speech
The British pound today traded in a tight range against the US dollar on the latest BoE credit data even as investors await the autumn UK budget speech later today. The pound’s slight rally was supported by the improved risk sentiment among investors, which supported the cable and prevented it from falling further. The GBP/USD … “Pound Trades Sideways on BoE Credit Data Ahead of Budget Speech”
Canadian Dollar Weakens As BOC Rate Hike Buzz Fades
The Canadian dollar is trading slightly lower on Monday as the buzz from the Bank of Canada (BOC)âs recent increase to interest rates has ostensibly faded. Investors will comb through various reports and forecasts pertaining to the national economy in both the short- and long-term until important data is published. It did not help with energy prices tumbling to start the trading week. Last week, the central bank raised rates by 25 … “Canadian Dollar Weakens As BOC Rate Hike Buzz Fades”
Euro Mixed After Announcement from Angela Merkel
The euro was mixed today after German Chancellor Angela Merkel announced that she will not seek re-election as her party’s leader. Markets were not particularly pleased with the announcement. Merkel announced that she will not run for the seat of the chief of her Christian Democratic Union or for any other political office for that matter. This decision was likely a result of the poor performance of the governing coalition in the regional … “Euro Mixed After Announcement from Angela Merkel”
Chinese Yuan Sideways on GDP Q3 Forecast, Weakening Auto Sales
The Chinese yuan is struggling to find direction at the end of the trading week as investors comb through mixed economic reports. Because of the string of tariffs imposed on China, the worldâs second-largest economy continues to experience the worst, including many of the nationâs sectors. And this, researchers say, could send its gross domestic product (GDP) lower. According to the China Association of Automobile Manufacturers (CAAM), wholesale deliveries of passenger vehicles tumbled 7.7% year-on-year in the third … “Chinese Yuan Sideways on GDP Q3 Forecast, Weakening Auto Sales”
Euro Heads Lower After Turbulent Week, Recovers on US GDP Data
The euro today broke out of a consolidative phase against the US dollar in the early European session as concerns regarding Italy and the global equity markets selloff weighed on the single currency. The EUR/USD currency pair later found a floor just before the release of the latest US GDP growth data in the early American session … “Euro Heads Lower After Turbulent Week, Recovers on US GDP Data”
3 reasons why the US Dollar fell despite upbeat GDP
US GDP grew by 3.5% annualized in Q3, above expectations and this followed an excellent Q2. The US Dollar ticked up at first but is now retreating. There are three reasons for the disappointing reaction. The US economy grew by 3.5% annualized in the third quarter, above 3.3% expected. This is the second consecutive quarter … “3 reasons why the US Dollar fell despite upbeat GDP”
US Dollar Surges Amid Mixed Economic Data
The US dollar is rallying against a basket of currencies on Thursday after the release of a mixed bag of economic data. The greenback has been trading higher over the last few trading sessions, helping the currency add to its impressive year-to-date gains. Last month, orders for durable goods rose 0.8%, the third increase in the last four months, driven by orders for defense goods and transportation. The market did anticipate a 1.9% decline after there … “US Dollar Surges Amid Mixed Economic Data”
Japanese Yen Gives Away Gains Caused by Decline of Asian Stocks
The Japanese yen rallied intraday amid risk aversion caused by sell-off of Asian stocks. But the currency retreated later after most of European and US equities logged big gains. Asian stocks showed big losses today, with Japanese Nikkei 225 losing more than 3% of its value. The market sentiment worsened because of that but recovered as most of the European and US equities gained by more than 1%. As for macroeconomic … “Japanese Yen Gives Away Gains Caused by Decline of Asian Stocks”
NZ Dollar Mixed After Trade Balance Deficit Reaches Record High
The New Zealand dollar was mixed today after falling intraday as the monthly trade balance deficit reached the highest level on record. But the bounce of global stocks supported riskier commodity currencies. Statistics New Zealand reported that the trade deficit widened from NZ$1.47 billion in August to the record high of NZ$1.56 billion. Experts had predicted a decrease to NZ$1.37 billion. NZD/USD traded at the opening of 0.6520 as of 16:37 GMT today after … “NZ Dollar Mixed After Trade Balance Deficit Reaches Record High”