The US dollar rebounded at the end of the trading week after new Federal Reserve minutes show the central bank favors raising interest rates in December and beyond. With investors paying close attention to this weekendâs G20 summit, all eyes are on President Donald Trumpâs critical meeting with Chinese President Xi Jinping. Wall Street is trying to be optimistic, but is a new trade agreement hopeless? According … “US Dollar Rebounds on Fed Minutes, G20 Summit Optimism”
Month: November 2018
Canadian Dollar Falls After GDP Miss, Reverses Losses Later
The Canadian dollar fell today after Canada’s GDP data turned out to be disappointing. The currency swiftly reversed its movement, though, trimming losses against some rivals, while erasing them outright against others. The loonie even managed to gain on the euro, which felt pressure from slowing eurozone inflation. Statistic Canada reported that gross domestic product fell 0.1% in September from the previous month — the first … “Canadian Dollar Falls After GDP Miss, Reverses Losses Later”
Bitcoin receives some good news, but can it recover for real?
BTC/USD attempted a recovery after losing $4,000, but never went too far. Two celebrities are investigated about ICO’s while institutional trading is picking up. Technically, Bitcoin is touching oversold territory, leaving a question mark over the next move. Bitcoin and other cryptocurrencies suffered another massive downfall over the weekend, on November 24th. BTC/USD crashed below … “Bitcoin receives some good news, but can it recover for real?”
Swiss Franc Declines as Economic Barometer Falls Below Expectations
The Swiss franc declined today following the release of underwhelming macroeconomic data. While the currency actually gained immediately after the release, the rally was short-lived, and the Swissie retreated afterwards. The KOF Economic Barometer fell from 100.2 in October to 99.1 in November. Experts had predicted a smaller drop to 99.6. The report commented on the result: This monthâs decline was in particular due to less favourable export prospects. The impetus from foreign demand is … “Swiss Franc Declines as Economic Barometer Falls Below Expectations”
New Zealand Building Consents Rise, NZ Dollar Goes Higher
The New Zealand dollar gained today. Domestic macroeconomic data released overnight was good, but it does not seem to contribute much to the currency’s rally. Statistics New Zealand reported that the seasonally adjusted number of building consents increased 1.5% in October from the previous month. The increase followed the 1.3% drop in September. Year-on-year, the indicator rose 6.7%. NZD/USD edged up from 0.6857 to 0.6868 as of 13:36 GMT today. … “New Zealand Building Consents Rise, NZ Dollar Goes Higher”
Australian Dollar Weaker After China’s Disappointing Data
The Australian dollar fell today. While domestic macroeconomic data was decent, reports in China, Australia’s biggest trading partner, were disappointing. China’s official manufacturing Purchasing Managers’ Index fell from 50.2 in October to 50.0 in November. Economists had expected the index to remain unchanged. The non-manufacturing PMI dropped to 53.4 from 53.9, touching the lowest level in 15 months. Analysts had also expected the indicator to stay little changed. … “Australian Dollar Weaker After China’s Disappointing Data”
Euro Declines on Weak Eurozone CPI Data Ahead of G20 Summit
The euro today headed lower against the US dollar from the early European session following the release of the mixed German retail sales data. The EUR/USD currency pair extended its losses in the mid-European session after the release of disappointing eurozone inflation data. The EUR/USD currency pair today declined from a high of 1.1400 in the … “Euro Declines on Weak Eurozone CPI Data Ahead of G20 Summit”
Canadian Dollar Pares Losses on Energy Prices, Account Deficit
The Canadian dollar is paring its earlier losses against its American counterpart on Thursday, buoyed by rallying energy prices and a smaller current account deficit. The loonie has weakened nearly 1% over the last trading week, mainly because of the bear market in international crude oil markets. According to Statistics Canada, the national current account deficit tumbled to $10.34 billion in the third quarter of this year, down from a revised $16.68 … “Canadian Dollar Pares Losses on Energy Prices, Account Deficit”
Euro Declines on Weak Eurozone Data, Later Rallies on Weak US Data
The euro today fell from Asian session highs in the early European session following the release of mixed macro data from across the euro area. The EUR/USD currency pair later rallied higher in the mid-European session as market risk sentiment improved before heading lower in the American session. The EUR/USD currency pair today traded between … “Euro Declines on Weak Eurozone Data, Later Rallies on Weak US Data”
5 reasons to fade the downfall of the dollar on Powell’s speech
The US Dollar fell after Powell’s speech that was perceived as dovish. However, there are five reasons to see the greenback outperform its peers. Markets jumped on the words “just below neutral” that Powell used to refer to interest rates. Stocks soared, and the US Dollar tumbled down. While a December hike 1) What Trump said … “5 reasons to fade the downfall of the dollar on Powell’s speech”