The Canadian dollar is tumbling on Thursday, thanks to crude oil prices slipping below the key $70 threshold and weak manufacturing data. The loonie had surged to a 11-day high on Wednesday before retreating against several other currencies. According to the US Energy Information Administration (EIA), domestic crude inventories climbed by 6.5 million barrels for … “Canadian Dollar Falls on Cratering Oil Prices, Weaker Manufacturing Data”
Month: October 2018
Australia’s Data Doesn’t Look Amazing, Aussie Defies Fundamentals
The Australian dollar was among the strongest currencies today. That puzzled market analysts as Australia’s macroeconomic reports were not particularly favorable and the market sentiment was negative to riskier commodity-related currencies due to geopolitical tensions and prospects for additional monetary tightening from the Federal Reserve. The Australian Bureau of Statistics reported that Australian employers added 5,600 jobs in September, almost three times less than analysts had predicted — 15,200. … “Australia’s Data Doesn’t Look Amazing, Aussie Defies Fundamentals”
Japanese Yen Flat on EU Trade Deal, World Economic Forum Index
The Japanese yen is trading flat midweek after several mixed news reports came out pertaining to the worldâs third-largest economy. While a new poll shows economists fear upcoming trade spats with the US will impact the Japanese economy, a new study discovered that Tokyo remains one of the most competitive places in the world today. The US government has warned that it could institute 25% tariffs on Japanese … “Japanese Yen Flat on EU Trade Deal, World Economic Forum Index”
Euro Drops Despite In-Line Inflation Data Ahead of FOMC Minutes
The euro today has traded erratically against the US dollar from the start of today’s session as both sellers and buyers pushed to gain control of the single currency. The EUR/USD currency pair traded both higher and lower as it struggled to find direction despite the release of positive eurozone inflation data, but was heading lower at … “Euro Drops Despite In-Line Inflation Data Ahead of FOMC Minutes”
Pound Falls on Weak UK Inflation Data Amid Brexit Summit
The British pound today fell significantly against the dollar following the release of the latest UK inflation data, which missed expectations. The pound was also weighed down by the ongoing European Union Brexit summit, which is not expected to result in a deal. The GBP/USD currency pair today fell from an opening high of 1.3193 … “Pound Falls on Weak UK Inflation Data Amid Brexit Summit”
USD/JPY: Preparing For Next Rally: Confirm On Daily Close Above 113.15; Negate Below 111.75 – ING
USD/JPY was pressured lower alongside stocks. But have things changed now? Here is their view, courtesy of eFXdata: ING discusses USD/JPY technical outlook and adopts a bullish bias on a multi-days basis against a daily close back below 111.75. “The daily chart shows a successful test of the solid and crucial support area between the horizontal … “USD/JPY: Preparing For Next Rally: Confirm On Daily Close Above 113.15; Negate Below 111.75 – ING”
Chinese Yuan Struggles to Find Direction Amid Bearish Economic Data
The Chinese yuan is struggling to find direction on Tuesday as the federal government released economic data that should trouble both officials and investors. Analysts do warn that the currency may get a lift on state stimulus amid the lingering trade dispute between the worldâs two largest economies. Last month, the consumer inflation rate advanced for the fourth straight month, reports the National Bureau of Statistics. Inflation edged up 2.5% year-over-year … “Chinese Yuan Struggles to Find Direction Amid Bearish Economic Data”
Loonie Jumps as Positive Fundamentals Outweigh Domestic Data
The Canadian dollar gained today as positive factors outweighed domestic macroeconomic data, which failed to meet market expectations. The currency gained for the fourth consecutive trading session against its US counterpart. One of the possible reasons for the loonie’s gains was the positive market sentiment. Another one were stable prices for crude oil. As for economic data, Statistics Canada reported: Foreign investment in Canadian securities slowed to $2.8 billion in August, down … “Loonie Jumps as Positive Fundamentals Outweigh Domestic Data”
US Dollar Mostly Weak but Gains on Safe Currencies
The US dollar was generally weak today as risk appetite made investors seek riskier currencies with higher yield. For the same reason the greenback gained on safe currencies, like the Japanese yen and the Swiss franc. Italy submitted its budget to the European Commission, which will decide whether it is within the European Union spending rules. While the budget remained with a sharp increase of deficit, there were hopes that … “US Dollar Mostly Weak but Gains on Safe Currencies”
Euro Drops and Trades Flat on Weak German Investor Sentiment
The euro today has been alternating between gains and losses against the US dollar from the start of the session due to the risk-off sentiment in the markets. The EUR/USD currency pair dipped to new daily lows after the release of the German ZEW survey data, whose prints came in way below expectations. The EUR/USD … “Euro Drops and Trades Flat on Weak German Investor Sentiment”