The Swiss franc is weakening against the greenback on Thursday after the central bank warned that the trade war could rock the currency. A central bank official also encouraged investors to hold tight because a tighter monetary policy is still far away from being realized. That said, officials believe the franc remains highly valued in the global financial markets. If a full-scale trade spat commenced, the Swiss economy would … “Swiss Franc Weakens on Trade War Concerns, Bearish Monetary Policy Forecasts”
Month: November 2018
EUR/USD Pair Drops From 2-Week Highs Ahead of FOMC Rate Decision
The EUR/USD currency pair today dropped from yesterday’s 2-week highs as investors looked past the results of the US midterm elections triggering a slight recovery by the greenback. The pair’s performance was largely driven by positive investor sentiment towards the greenback, which kept the pair trading in a subdued range. The EUR/USD currency pair today traded in … “EUR/USD Pair Drops From 2-Week Highs Ahead of FOMC Rate Decision”
The Stablecoin Market Continues to Grow
While Tether continues its slide in popularity, you may think that the Stablecoin market would follow suit, but it isn’t doing. The stablecoin trend is growing, and there are newcomers poised to enter with pegs to currencies other than USD. Pegs to USD dominate the stablecoin market. To date, pegging a stablecoin to the US … “The Stablecoin Market Continues to Grow”
Japanese Yen Gains on Hawkish BOJ, Capped by Bearish Forecasts
The Japanese yen is posting a modest rally against its American counterpart midweek as the central bank and the federal government send bullish messages to the market. But the tepid gains were capped by bearish economic data and forecasts. Despite fears of a pending trade war with the worldâs largest economy, the yen has been performing admirably against the greenback in 2018. On Wednesday, the Bank of Japan (BOJ) warned that higher long-term interest rates … “Japanese Yen Gains on Hawkish BOJ, Capped by Bearish Forecasts”
Euro Rallies Against US Dollar on Split US Midterm Election Results
The euro today rallied to new 2-week highs against the US dollar following the results of the US midterm elections, which led to a split congress as had been predicted by most pundits. The euro was further boosted by positive macro releases from across the euro area such as the German industrial production data for … “Euro Rallies Against US Dollar on Split US Midterm Election Results”
Australian Dollar Bounces Despite Contracting Construction Sector
The Australian dollar behaved in a fashion similar to its New Zealand counterpart, falling intraday but rebounding later. Unlike the New Zealand dollar, though, the Aussie did not have support of positive macroeconomic data. The only indicator released in Australia overnight, Australian Industry Group/Housing Industry Association Australian Performance of Construction Index, demonstrated a drop from 49.3 in September to 46.4 in October. The index, being below the neutral 50.0 level, indicated … “Australian Dollar Bounces Despite Contracting Construction Sector”
NZ Dollar Jumps After Employment Data Beats Expectations
The New Zealand dollar jumped against all of its most-traded rivals today as employment data released in New Zealand overnight came out much better than was expected. Statistics New Zealand reported that the unemployment rate dropped to 3.9% in the September quarter from 4.4% in the previous three months, whereas experts had predicted it to stay unchanged. Employment rose 1.1%, more than two times the forecast increase … “NZ Dollar Jumps After Employment Data Beats Expectations”
Chinese Yuan Strengthens on Xiâs Tepid Reform Pledges
The Chinese yuan is posting modest gains against its US counterpart on Tuesday after President Xi Jinping pledged modest economic reforms. But the currencyâs boost was capped by investorsâ doubt that a trade agreement between the worldâs two largest economies is imminent. This week, Xi delivered a 30-minute speech at the China International Import Expo, where he continued to say that Beijing was opening … “Chinese Yuan Strengthens on Xiâs Tepid Reform Pledges”
Euro Trades Flat Despite Upbeat PMI Data Ahead of US Midterm Elections
The euro today largely traded sideways against the US dollar alternating between gains and losses as markets awaited the results of today’s US midterm elections. The euro failed to rally significantly following the release of several positive PMI prints from across the euro area by Markit Economics, instead, it headed lower driven by negative sentiment. The … “Euro Trades Flat Despite Upbeat PMI Data Ahead of US Midterm Elections”
Canadian Dollar Sideways Amid Lower Crude Prices, BOC Comments
The Canadian dollar was unable to keep the momentum from last weekâs strong jobs report, and the loonie could not get a boost on Monday on bullish comments from the head of the Bank of Canada (BOC). Investors might find direction in the results of Tuesdayâs US midterm elections, as well as some American and Canadian economic data this week. Speaking to a business audience in London on Monday, BOC Governor Stephen Poloz defended the central bankâs optimistic … “Canadian Dollar Sideways Amid Lower Crude Prices, BOC Comments”