The Japanese yen continued to rise today, gaining for the sixth consecutive trading session. The currency continued to get support from risk aversion on markets, which made investors stick with safer assets. One of the main reason for investors’ worries was the collapse of stock markets following the policy announcement from the Federal Reserve. Most US stock indices fell more than 1% yesterday, while today most Asian stocks posted … “Japanese Yen Extends Gains for Sixth Session on Risk Aversion”
Month: December 2018
British Pound Trades Sideways Despite the Positive UK GDP Data
The British pound has traded in a wide range against the US dollar during today’s session as the bears and the bulls fought for control over the currency’s price direction. However, neither camp was winning after the release of positive UK quarterly GDP data accompanied by disappointing public borrowing data. The GBP/USD currency pair today traded … “British Pound Trades Sideways Despite the Positive UK GDP Data”
Euro Rallies After Fed’s Statement, EU-Italy Budget Deal, Economic Data
The euro was very strong today against the majority of most-traded currencies with the exception of the extremely strong Japanese yen. The budget deal between Italy and the European Union, the dovish policy statement of the Federal Reserve, and positive macroeconomic data in the eurozone — all those factors contributed to the rally of the shared 19-nation currency. The major contributing factor for the rally was the policy announcement from the Fed. While Fed’s stance did not seem as dovish as many … “Euro Rallies After Fed’s Statement, EU-Italy Budget Deal, Economic Data”
NZ Dollar Pares Losses vs. US Dollar, Remains Soft vs. Other Majors
The New Zealand dollar managed to pare losses versus its US counterpart today, but remained weak against other most-traded currencies, including the Australian dollar, which itself was vulnerable. The kiwi started Thursday with huge losses due to the disappointing GDP report. The currency managed to bounce versus the greenback later as the US currency was under pressure following the dovish monetary policy statement from the Federal Reserve. During … “NZ Dollar Pares Losses vs. US Dollar, Remains Soft vs. Other Majors”
Swedish Krona Climbs After Riksbank Raises Interest Rates
The Swedish krona jumped today after the nation’s central bank decided to reduce monetary easing, raising its benchmark repo rate. The Riksbank hiked its main interest rate from -0.5% to -0.25% effective from January 9, 2019. It was the first interest rate hike in more than seven years. Furthermore, the central bank signaled that it may raise the rate further in the second half of 2019. USD/SEK … “Swedish Krona Climbs After Riksbank Raises Interest Rates”
Japanese Yen Strong After Fed Announcement Disappoints Markets
The Japanese yen was extremely strong today, rallying against all of its major rivals. Market analysts explained the rally by the reaction to the monetary policy announcement from the Federal Reserve. Experts argued that Fed’s policy statement was less dovish than markets had anticipated. And that led to a surge of risk aversion on markets, driving investors to seek safer assets. Meanwhile, the Bank of Japan concluded its policy meeting today. … “Japanese Yen Strong After Fed Announcement Disappoints Markets”
Canadian Dollar Slides to 18-Month Low on Crude Prices, Manufacturing Data
The Canadian dollar is trading sideways against its US rival on Thursday as investors try to make sense of which direction the loonie is headed. The currency has tumbled to an 18-month low on crashing crude oil prices, and the currency was not helped by disappointing manufacturing data. Canada exports many commodities, primarily crude oil, and the country runs a current account deficit. The economy could take a hit if the global flow of trade … “Canadian Dollar Slides to 18-Month Low on Crude Prices, Manufacturing Data”
Sterling Pound Rallies on Upbeat Retail Sales Data and BoE Decision
The British pound today rallied higher against the US dollar from the mid-Asian session as markets digested yesterday’s Fed monetary policy statement. The pound’s rally was further boosted by the release of upbeat UK retail sales data in the early European session. The GBP/USD currency pair today rallied from an initial low of 1.2612 to … “Sterling Pound Rallies on Upbeat Retail Sales Data and BoE Decision”
Australian Dollar Fails to Keep Gains After Mixed Employment Report
The Australian dollar attempted to rally today following mixed employment data released in Australia. The currency failed to keep gains, though, and is now trading near opening levels against most major rivals. The Australian Bureau of Statistics reported that employment increased by 37,000 jobs in November, seasonally adjusted, exceeding the analysts’ median estimate of 20,000. Yet diving deeper into the report reveals that the data was not particularly good. … “Australian Dollar Fails to Keep Gains After Mixed Employment Report”
NZD Drops Sharply on Wednesday, Attempts to Bounce on Thursday
The New Zealand dollar dropped sharply yesterday after the policy announcement from the US Federal Reserve and extended losses after the release of mixed domestic macroeconomic data. The currency is attempting to bounce today, but by now the kiwi has lost gains it had posted earlier. The biggest negative factor for kiwi (outside of the Fed announcement) was the disappointing growth of New Zealand’s gross domestic product. Statistics New Zealand reported … “NZD Drops Sharply on Wednesday, Attempts to Bounce on Thursday”