The euro today was buffeted by a deluge of negative news headlines that soured investor sentiment towards the single currency and other riskier currencies. The news headlines included China’s denial of any progress in the trade war talks as well as the Italian budget standoff, which contributed to the EUR/USD currency pair’s massive decline. The EUR/USD currency pair today fell from a high of 1.1344 to a 2-week low of 1.1290 and was on a downtrend at the time of writing. The currency … “Euro Falls on Chinese Trade War News, Italy Standoff, and Trump Tariffs”
Month: November 2018
NZ Dollar Advances Despite Worse-Than-Expected Trade Balance
The New Zealand dollar rose today despite New Zealand’s trade balance, which was released overnight, missed expectations. Statistics New Zealand reported that the trade balance deficit was at NZ$1.3 billion in October. It was a decrease from September’s deficit of NZ$1.6 billion. Nevertheless, analysts had expected even smaller deficit of NZ$0.85 billion. NZD/USD advanced from 0.6770 to 0.6803 as of 13:14 GMT today. EUR/NZD declined … “NZ Dollar Advances Despite Worse-Than-Expected Trade Balance”
3 scenarios for the Trump-Xi Summit on trade
Presidents Trump and Xi meet in Buenos Aires to talk trade. Recent signs have not been promising and lower expectations. There are three scenarios for the event and currencies. US President Donald Trump meets his Chinese counterpart Xi Jinping on the sidelines of the G-20 Summit on November 30th. Trade tops the agenda. Here are … “3 scenarios for the Trump-Xi Summit on trade”
Canadian Dollar Flat Amid Bleak Economic Outlook, GM Closure
The Canadian dollar is trading relatively flat to start the trading week. Despite upward momentum in the Canadian economy, recent outlooks suggest that it is not as rosy as many think it is. Moreover, the currency was affected after General Motors announced that it was leaving Canada as the company was embarking upon an overall change to its structure. The loonie did find some momentum in higher crude prices. … “Canadian Dollar Flat Amid Bleak Economic Outlook, GM Closure”
Euro Rallies on Italian Budget Hopes, Declines on Weak German Data
The euro today rallied higher against the US dollar from the Asian session into the early European session on hopes that the Italian government would amend its budget plans. The EUR/USD currency pair later headed lower after the German IFO business survey data missed expectations and Mario Draghi‘s speech had no new insights. The EUR/USD … “Euro Rallies on Italian Budget Hopes, Declines on Weak German Data”
Bitcoin pattern implies a loss of $3,000 on November 29th
Bitcoin is sliding once again after a failed attempt to recapture $4,000. Looking at the recent behavior BTC/USD, the next fall will be on Thursday, November 29th. Bitcoin made a recovery attempt following the news that the US state of Ohio will accept the digital currency in 23 different types of business taxes. This is a considerable mainstream … “Bitcoin pattern implies a loss of $3,000 on November 29th”
The EU Summit approves Brexit, but the pound has three reasons to suffer
The EU approved the Brexit deal at the special EU Summit. The agreement was priced in, but the hurdles to pass it in Parliament are harder. GBP/USD could remain under immense pressure. The special summit of the European Union on Brexit ended with an approval of the deal that sets the path for the divorce between the … “The EU Summit approves Brexit, but the pound has three reasons to suffer”
Mexican Peso Weakens on Trump Border Threat, Incoming Government
The Mexican peso weakened against its American counterpart at the end of the trading week. The peso tumbled after President Donald Trump threatened to close the US-Mexico border. The currency is also struggling to rally as the nationâs incoming leftist government will soon come to power. Speaking to reporters on Thursday, President Trump said he is willing to shut down the entire US-Mexico Border and stop trade with the country should migrants from Central … “Mexican Peso Weakens on Trump Border Threat, Incoming Government”
USD/CAD Pair Drops Briefly on Upbeat Canadian Data, Quickly Recovers
The USD/CAD currency pair today briefly plunged lower after the release of positive Canadian inflation data, before quickly reversing higher. The currency pair managed to sustain its upward trend, which was in place from the start of today’s session, largely due to the depressed global oil prices. The USD/CAD currency pair today dropped back to … “USD/CAD Pair Drops Briefly on Upbeat Canadian Data, Quickly Recovers”
Canadian Dollar can do nothing against the crude crash
The Canadian Dollar was hit by oil prices once again. The quarterly GDP figure stands out in the last week of November. The technical picture is quite bullish for the pair. This was the week: Another leg down in oil Oil prices continue taking two steps down, one up. Prices tumbled down once again alongside … “Canadian Dollar can do nothing against the crude crash”