The Australian dollar declined today after China released a bunch of macroeconomic indicators, some of which missed expectations. China is Australia’s biggest trading partner, making its economic well-being very important for the Australian economy and currency. The National Bureau of Statistics of China released macroeconomic data for November today. Industrial production rose 5.4%, year-on-year, slowing from the 5.9% rate of growth registered in October, whereas economists had expected the expansion … “Australian Dollar Trades Lower After China’s Data Misses Expectations”
Month: December 2018
Euro Rallies Ahead of ECB Rate Decision, Drops on Dovish Draghi Speech
The euro today rallied before the European Central Bank rate announcement, but dropped lower after the dovish comments made by the ECB President following the announcement. The pair headed lower in the American session despite the release of disappointing American macro data. The EUR/USD currency pair today dropped from a high of 1.1393 to a … “Euro Rallies Ahead of ECB Rate Decision, Drops on Dovish Draghi Speech”
Japanese Yen Extends Losses As Data Misses Expectations
The Japanese yen is weakening against its US counterpart on Thursday after new data missed market forecasts. The currency is now looking to find direction on news that the federal government is aiming to allow more foreign workers to fill the labor gap in the worldâs third-largest economy. Core machinery orders climbed less than expected in October as the nation continued to recover from the massive earthquake in September. According to the latest numbers, … “Japanese Yen Extends Losses As Data Misses Expectations”
Franc Flat-to-Higher Despite Downgrade of SNB Inflation Forecast
The Swiss franc was relatively strong today, trading flat against some currencies while gaining versus others. That was surprising, considering that the central bank left interest rates in the negative territory and lowered inflation projections. The Swiss National Bank kept borrowing costs unchanged at today’s policy meeting, with the interest on sight deposits remaining at -0.75% and the target range for the three-month Libor staying at between â1.25% and â0.25%. The central … “Franc Flat-to-Higher Despite Downgrade of SNB Inflation Forecast”
Australian Dollar Strongest During Thursday’s Trading
The Australian dollar was the strongest currency today. It was fighting with the Great Britain pound for the first place, and currently the Aussie is on top. Domestic macroeconomic data released over the trading session was good, with the Melbourne Institute Consumer Inflationary Expectations logging an increase from 3.6% in November to 4.0% in December. But the more important factor supporting the Australian currency was the positive general market sentiment, supported by reports … “Australian Dollar Strongest During Thursday’s Trading”
Britain’s Pound Rallies After Theresa May Survives Confidence Vote
The Great Britain pound gained today after Britain’s Prime Minister Theresa May survived the no-confidence vote of her party. While the currency has lost its gains versus the US dollar by now, it kept them against other major rivals. The Prime Minister retained leadership in her Conservative party, winning with 200 votes in her favor versus 117 votes against her, and now she is immune … “Britain’s Pound Rallies After Theresa May Survives Confidence Vote”
Japanese Yen Shows No Clear Trend After Mixed Data
The Japanese yen did not have a clear trend today, rising against some currencies but falling versus others. Macroeconomic data released during the Asian trading session was mixed. The Corporate Goods Price Index rose 2.3% in November from the previous year, a bit less than analysts had predicted — 2.4%. The Indices of Tertiary Industry Activity increased 1.9% in October from the previous month, exceeding the average forecast … “Japanese Yen Shows No Clear Trend After Mixed Data”
Australian Dollar Gains Despite Interest Rate Projections, Unimpressive Economic Data
The Australian gained against most of its major rivals today, with the exception of the euro. News from Australia itself was not particularly supportive, but the currency profited from the positive market sentiment caused by the news from Great Britain. The National Australia Bank pushed back its projections for an interest rate hike from the Reserve Bank of Australia. Previously, the NAB was predicting that the RBA will perform couple of hikes … “Australian Dollar Gains Despite Interest Rate Projections, Unimpressive Economic Data”
Chinese Yuan Strengthens As Beijing Prepares for 2019 Economic Plan
The Chinese yuan is strengthening midweek as the federal government prepares to unveil its economic game plan. After a disappointing 2018 performance, mostly due to the US-China trade war, Beijing is looking to spur growth by introducing a series of measures that President Xi Jinping hopes will limit the damage. President Xi and the nationâs top leaders will converge on the Central Economic Work Conference, an annual gathering of ministers, provincial governors, senior … “Chinese Yuan Strengthens As Beijing Prepares for 2019 Economic Plan”
British Pound Rallies as PM May Expected to Win Leadership Challenge
The British pound today rallied higher from the early European session as analysts predicted that the British Prime Minister will win the leadership challenge from within her party. Most analysts are predicting that Theresa May will win the no-confidence vote scheduled for later today despite 48 Tory MPs submitting letters that triggered the vote. The … “British Pound Rallies as PM May Expected to Win Leadership Challenge”