The euro today dropped significantly against the US dollar following the release of disappointing German PMI data by IHS Markit in the early European session. The single currency had traded in a slight upward trend during the Asian session boosted by positive market sentiment and a weak US dollar before plunging lower. The EUR/USD currency … “Euro Posts Massive Drop on Disappointing German PMI Data”
Month: November 2018
Japanese Yen Gains on Growing Optimism, Export Rebound
The Japanese yen is posting modest gains against the greenback on Thursday. Traders were pleased by recent comments made by government officials about the national economy, and positive data gave a boost to the yenâs slight bump. In the November edition of its monthly economic assessment, the Cabinet Office asserted that the economy âis recovering at a moderate pace.â Officials contend that Japanese consumption, exports, and capital spending will allow the country to rebound from … “Japanese Yen Gains on Growing Optimism, Export Rebound”
Euro Rallies on Dovish Fed Rumors, Declines Despite Weak US Data
The euro today rallied higher against the US dollar in the mid-European session following rumors that the US Federal Reserve would pause its rate hikes in Spring 2019. The euro had rallied higher in the early European session after Italy’s Deputy Prime Minister Matteo Salvini teased that his government was willing to make revisions to … “Euro Rallies on Dovish Fed Rumors, Declines Despite Weak US Data”
Canadian Dollar Rebounds From Five-Month Low Amid Crude Oil Rally
The Canadian dollar is rebounding from its lowest level in five months on Wednesday as crude oil prices are rallying about 2%. The loonieâs gains were capped by recent dovish comments by a senior Bank of Canada (BOC) official who warned about consumer finances amid rising interest rates. While investors wait for the US Energy Information Administration (EIA)âs weekly data and comb through industry news, crude is … “Canadian Dollar Rebounds From Five-Month Low Amid Crude Oil Rally”
British Pound Struggles as Markets Await May-Juncker Meeting
The British pound today struggled to find direction as investors adopted a wait and see approach towards the cable even as Theresa May is set to meet Jean-Claude Juncker later today. The pound was relatively stable as it appears that the British Prime Minister has managed to fend off a leadership challenge within her own … “British Pound Struggles as Markets Await May-Juncker Meeting”
Japanese Indices for All Industry Activity Decline, Yen Falls
The Japanese yen declined today. While macroeconomic data released in Japan during the current trading session was not good, that was unlikely the reason for the decline. Japan’s Ministry of Economy, Trade, and Industry reported that the Indices for All Industry Activity fell 0.9% in September from the previous month. The actual drop was a bit higher than the forecast 0.8%. The decline followed the gain by 0.4% in August. USD/JPY advanced from 112.75 … “Japanese Indices for All Industry Activity Decline, Yen Falls”
Australian Dollar Bounces After Two Days of Losses
The Australian dollar rebounded today following two days of losses despite somewhat mixed domestic macroeconomic data. Today’s bounce was not enough to counter yesterday’s decline, though. The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.1% in October from the previous month. The September reading got a positive revision from a drop by 0.1% to zero change. At the same time, six month annualized growth rate, which indicates the likely … “Australian Dollar Bounces After Two Days of Losses”
Chinese Yuan Struggles for Direction As Market Braces for Corporate Defaults
The Chinese yuan is struggling to find direction against its American counterpart on Tuesday as the market weighs several stories impacting the national economy. From President Donald Trumpâs latest swipe on Beijing to the rising tide of corporate defaults, China is bracing for a lot of pressure heading into next year. A new report finds that a growing number of Chinese businesses could default on their debts if they are issued In US … “Chinese Yuan Struggles for Direction As Market Braces for Corporate Defaults”
Will Ripple surpass Bitcoin at the top? This could be the eventual result of this crash
Where will the free-fall of Bitcoin stop? After a downfall on November 14th, BTC/USD had a bad day on Monday that became worse today. At least it’s doing better than Bitcoin Cash, which crashed 40% in 24 hours. What are the levels to watch? The Technical Confluence Indicator shows that initial resistance awaits at $4,448 which is the … “Will Ripple surpass Bitcoin at the top? This could be the eventual result of this crash”
Pound Drops on Brexit and Political Jitters Amid BoE Speeches
The British pound today declined slightly against the US dollar even as Brexit jitters continued to weigh down the cable. The pound was further affected by the DUP’s resistance to the current Brexit deal given that Theresa May needs the 10 votes from DUP members led by Arlene Foster in order to have a majority … “Pound Drops on Brexit and Political Jitters Amid BoE Speeches”