The Chinese yuan is closing 2018 flat against its American counterpart as investors brace for a new year. Experts contend that the yuan should have a better 2019, but only if the worldâs two largest economies find a balance on trade. For now, the economic data is grim and pessimism reigns supreme. In December, Chinaâs economy did not show any signs of improvement. Manufacturing sector activity contracted for the first time … “Chinese Yuan Flat on Final Day of 2018”
Month: December 2018
British Pound Rallies to 3-Week Highs on New Yearâs Eve
The British pound today rallied higher against the US dollar largely due to high selling pressure on the greenback during the European session. The thin trading activity witnessed in the markets on the last trading day of 2018 and Brexit developments might have also contributed to the spike higher. The GBP/USD currency pair today rallied … “British Pound Rallies to 3-Week Highs on New Yearâs Eve”
Euro Rallies Against US Dollar Then Drops on Weak German CPI Data
The euro today rallied against the US dollar from the Asian session and maintained its gains into the European session amid minimal holiday trading. However, the single currency dropped slightly following the release of the disappointing German consumer inflation data in the early American session. The EUR/USD currency pair today rallied from an opening and … “Euro Rallies Against US Dollar Then Drops on Weak German CPI Data”
Japanese Yen Rallies on Trade and Economic Growth Concerns
The Japanese yen today rallied against the US dollar as investors remained worried about the trade tensions between the US and China, which resulted in a risk averse market sentiment. Investors were also worried about the prospects of slower global economic growth next year, which made the safe haven yen more appealing. The USD/JPY currency … “Japanese Yen Rallies on Trade and Economic Growth Concerns”
Australian Dollar Drops on Weak Chinese Data and Trade War Fears
The Australian dollar today declined against its US counterpart as markets digested the impact of weak Chinese industrial profits data on commodity-linked currencies such as the Aussie. The Aussie’s decline was further compounded by the re-emergence of Sino-US trade war fears based on recent news regarding potential orders by the US government against Chinese companies. … “Australian Dollar Drops on Weak Chinese Data and Trade War Fears”
Euro Rallies Post Christmas on Italian Budget News and US Politics
The euro today rallied higher against the US dollar from the Asian session despite the lack of any major European releases. The euro’s rally was largely driven by market concerns about the ongoing partial US government shutdown, which resulted in a weak US dollar. The EUR/USD currency pair today rallied from an opening low of … “Euro Rallies Post Christmas on Italian Budget News and US Politics”
Euro Rallies on Risk-On Sentiment and Weak Dollar on Christmas Eve
The euro today rallied higher against the US dollar in a move driven by improved market risk sentiment on the last trading day before Christmas. The euro rallied higher in Contrast to Friday’s massive decline against the US dollar, which was weighed down by negative fundamental drivers today. The EUR/USD currency pair today rallied from … “Euro Rallies on Risk-On Sentiment and Weak Dollar on Christmas Eve”
Canadian Dollar Mixed After Macroeconomic Reports
The Canadian dollar was mixed today, falling versus safe currencies, like the US dollar and the Japanese yen, but trading flat or even rising against others. Domestic macroeconomic reports did not help the currency to find direction as they were mixed themselves. Statistics Canada reported that gross domestic product rose 0.3% in October from the previous month following the 0.1% decline in September. Economists had predicted a smaller … “Canadian Dollar Mixed After Macroeconomic Reports”
Swiss Franc Soft Despite Supportive Data & Market Sentiment
The Swiss franc was surprisingly soft today despite recent supportive domestic macroeconomic data and the market sentiment that was favorable to safer currencies. Reported yesterday by the Swiss Federal Customs Administration, Switzerland trade balance surplus was at CHF 3.1 billion in November. Exports rose 1.8% to a new monthly record. Imports fell by 1.2%. USD/CHF gained from 0.9878 to 0.9915 as of 17:04 GMT today. GBP/CHF climbed from 1.2499 … “Swiss Franc Soft Despite Supportive Data & Market Sentiment”
US Dollar Surges on Data, Fed Comments
The US dollar is surging against its major rivals on Friday, thanks to positive economic data and comments by one Federal Reserve official. The greenback is on a tear in 2018, despite several factors that would normally the hurt currency, and it will likely finish the year up roughly 5%. Will 2019 be as friendly to the buck? The gross domestic product (GDP) was revised lower but it still came in strong … “US Dollar Surges on Data, Fed Comments”