The British pound today crashed to new 2-week lows after two UK Ministers and a junior minister led by former Brexit Secretary Dominic Raab resigned following yesterday’s draft Brexit deal. The Sterling was further weighed down by the disappointing retail sales data released earlier today, which pointed a grim picture of the UK economy. The … “Pound Crashes as Two UK Ministers Resign Following Brexit Deal”
Month: November 2018
Australian Dollar Propelled by Solid Employment Data
The Australian dollar rose today, propelled higher by strong employment figures. The falling inflation expectations did not affect the currency at all. While the Aussie has trimmed gains against some of its most-traded rivals by now, the currency remains safely above the opening level. The Australian Bureau of Statistics reported that employment increased by 32,800 in October on a seasonally adjusted basis. That is compared to the increase of 19,900 predicted by specialists and the small gain … “Australian Dollar Propelled by Solid Employment Data”
US CPI Accelerates Within Expectations, US Dollar Index Falls Slightly
The US dollar gained on some of its major rivals, including the euro and the Great Britain pound, after consumer inflation in the United States accelerated in line with market expectations. Overall, though, the currency traded slightly lower. The headline US CPI increased 0.3% in October from the previous month, exactly as analysts had forecast, after rising 0.1% in September. The core CPI rose 0.2%, also matching forecasts, after increasing 0.1% … “US CPI Accelerates Within Expectations, US Dollar Index Falls Slightly”
Chinese Yuan Rises Despite Disappointing Economic Data
The Chinese yuan is gaining against its American counterpart midweek, despite a myriad of disappointing economic numbers that show the national economy is not on strong footing. It is evident by now that Beijing will be unable to weather the storm clouds forming from the US-China trade war. According to the National Bureau of Statistics (NBS), consumer spending on automobiles and staple foods expanded 8.6%, the slowest pace in five months … “Chinese Yuan Rises Despite Disappointing Economic Data”
Pound Falls on UK Political Uncertainty Amid Weak Inflation Data
The Sterling pound today traded lower against the US dollar as markets awaited the crucial meeting between the British PM Theresa May and her cabinet to approve the draft Brexit deal. The pound declined further following the release of weak UK consumer price index report in the early London session, which further soured investor sentiment … “Pound Falls on UK Political Uncertainty Amid Weak Inflation Data”
Euro Falls on Weak German GDP Growth as Italian Crisis Persists
The euro today fell significantly against the US dollar following the release of weak German GDP growth data in the early European session. The single currency’s decline was further accelerated by the risk-off market sentiment as investors waited for the resolution of the ongoing Italian budget crisis. The EUR/USD currency pair today fell from an … “Euro Falls on Weak German GDP Growth as Italian Crisis Persists”
Aussie Reacts Negatively to China’s Disappointing Retail Sales
The Australian dollar attempted to rally during the Wednesday’s trading session but fell later. Some market analysts attributed the decline to the worse-than-expected retail sales in China. China’s macroeconomic data often has strong impact on the Australian currency because China is Australia’s biggest trading partner. Economic reports released in Australia itself over the current session were good. The National Bureau of Statistics of China released a range of macroeconomic indicators today. … “Aussie Reacts Negatively to China’s Disappointing Retail Sales”
Yen Drops on Slowing Economic Growth, Trims Losses Later
The Japanese yen dropped intraday as most macroeconomic reports released in Japan today were disappointing. By now, though, the currency has trimmed its losses, erasing them against some rivals outright. Japan’s gross domestic product fell 0.3% in the third quarter of this year from the previous three months. The drop followed the 0.8% increase registered in the preceding quarter. The GDP Deflator dropped 0.3% year-on-year after showing no change … “Yen Drops on Slowing Economic Growth, Trims Losses Later”
Canadian Dollar Struggles to Find Direction Amid Crashing Crude Prices
The Canadian dollar is trading relatively sideways on Tuesday as the price of crude oil crashes. The loonie, which slipped to a four-month low early in the trading day, is attempting to snap its four-session losing streak. Without any major Canadian events, investors may not have an appetite for the currency. On Tuesday, crude oil prices crashed to their lowest levels since the start of December, tumbling more than 6%. The plunge comes as President … “Canadian Dollar Struggles to Find Direction Amid Crashing Crude Prices”
Euro Rallies Higher on Positive Sentiment Amid Italyâs Defiance
The euro today rallied higher against the US dollar driven by positive market sentiment backed by investors’ expectations of a future US-China trade deal. However, the single currency’s rally was significantly hampered by the ongoing standoff between the EU and Italy regarding its 2019 budget plans. The EUR/USD currency pair today rallied from a low of 1.1219 to a high of 1.1271 in the early American session. The currency pair’s initial rally was largely supported … “Euro Rallies Higher on Positive Sentiment Amid Italyâs Defiance”