The US dollar rallied today against most of its major peers, breaking the three-day long streak of losses. The greenback has lost its gains against the Japanese yen by now but kept them against other rivals. The US Dollar Index rose 0.25% today. Market analysts explained the rally by the rise of global stocks. US stocks demonstrated particularly big gains, with the S&P 500 Index and the NASDAQ Composite Index … “US Dollar Halts Decline as Stocks Sell-Off Pauses”
Month: October 2018
Chinese Yuan Still Lower on Reports US Will Not Label China âCurrency Manipulator’
The Chinese yuan is still trading lower on Friday, despite reports that the US Treasury Department will not label the worldâs second-largest economy a âcurrency manipulator.â The positive news was offset by an International Monetary Fund (IMF) forecast that lowers the nationâs economic growth over the next two years amid the US-China trade spat. For months, the US government has said that it is working with other G7 … “Chinese Yuan Still Lower on Reports US Will Not Label China âCurrency Manipulator’”
Japanese Yen Traders Near Opening After Falling Earlier
The Japanese yen fell intraday but as many other currencies was trading near its opening level later. Domestic macroeconomic data was mixed, giving the currency no reason to go one way or the other. The M2 money supply increased by 2.8% in September from a year ago, while analysts had expected the same 2.9% rate of growth as in the previous month. The seasonally adjusted Indices of Tertiary Industry Activity rose 0.5% … “Japanese Yen Traders Near Opening After Falling Earlier”
NZ Dollar Rallies Intraday, Trims Gains Later
The New Zealand dollar rose today, though the currency has trimmed its gains by now, losing them outright against some rivals. The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell to 51.7 in September from 52.0 in August. The report commented on the result: New Zealand’s manufacturing sector remained within a tight and low level of expansion for September. Unlike many other Asian currencies, New Zealand did not get … “NZ Dollar Rallies Intraday, Trims Gains Later”
Australian Dollar Shows Resilience in Face of Adverse Fundamentals
The Australian dollar managed to hold its ground, trading near the opening level against its major peers, despite fundamentals that were rather unfavorable to the currency today. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans dropped by 2.1% in August from July. Analysts had expected a smaller drop by 0.9%. Yesterday, the International Monetary Fund downgraded the growth outlook in 2019 for Asia in general and Australia and China, … “Australian Dollar Shows Resilience in Face of Adverse Fundamentals”
USD: US CPI: Another Soft Month For Prices; Moderately Negative For USD – CIBC
US inflation is not going anywhere fast. What’s next? What does this mean for the US Dollar? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today’s US CPI print for the month of September. “Today’s CPI report showed that September was another soft month for prices, with both headline and … “USD: US CPI: Another Soft Month For Prices; Moderately Negative For USD – CIBC”
Japanese Yen Jumps on Renewed Cooperation With China
The Japanese yen is posting modest gains against its US counterpart on Thursday after the Chinese government encouraged renewed economic cooperation with the worldâs third-largest economy. The yen received a slight shot in the arm on various surveys that show a boost in key sectors. This year, the US has engaged in a bitter trade dispute with China, instituting a series of tariffs worth tens of billions of dollars on Chinese goods. Washington … “Japanese Yen Jumps on Renewed Cooperation With China”
Euro Rallies on Huge Drop in Global Equity Markets, Later Declines
The euro today rallied higher against the US dollar from the early European session largely due to the massive pullback in global equity markets, which favored the single currency. The EUR/USD currency pair’s rally was further boosted by President Donald Trump‘s criticism of the Fed’s monetary policy position, which also contributed to the greenback’s weakness. … “Euro Rallies on Huge Drop in Global Equity Markets, Later Declines”
Canadian Dollar Weakens on Lower Crude Prices, Higher US Bond Yields
The Canadian dollar is trading lower against its US and European counterparts midweek. The loonie has been tumbling on lower crude oil prices and rising US bond yields that analysts fear could impact global growth. It appears that striking a new trilateral trade deal with the US and Mexico only provided short-term relief for the … “Canadian Dollar Weakens on Lower Crude Prices, Higher US Bond Yields”
British Pound Rallies on Brexit Progress Despite Weak UK Macro Data
The British pound today rallied higher against the US dollar from the early European session as it emerged that the European Union and the UK were about to reach a Brexit deal. The GBP/USD currency pair was further boosted by the fact that the US warned China against devaluing its currency, which did not favor … “British Pound Rallies on Brexit Progress Despite Weak UK Macro Data”