The Japanese yen started the Wednesday’s session in the red across the board. The positive market sentiment was the likely reason for the losses of the safe-haven currency, though negative macroeconomic data might have played its part as well. Japan’s Cabinet Office reported that the seasonally adjusted number of core machinery orders increased by 7.6% in October from September. While it was a better reading than September’s drop by 18.3%, the increase failed to meet … “Japanese Yen Trades with Losses During Wednesday’s Asian Session”
Month: December 2018
Euro Fails to Profit from Improving Economic Sentiment
The euro fell against most of its major rivals today with the exception of the Great Britain pound. Positive macroeconomic data was unable to support the currency. The ZEW Indicator of Economic Sentiment for Germany climbed from -24.1 in November to -17.5 in December instead of falling to -25.0 as analysts had predicted. The index for the whole eurozone edged up from -22.0 to -21.0, whereas analysts had predicted a decrease to -23.2. The report was not particularly … “Euro Fails to Profit from Improving Economic Sentiment”
Aussie Gains on Positive News About US-China Trade War
The Australian dollar gained today despite domestic macroeconomic data, which was not particularly supportive to the currency. The rally was a result of the positive market sentiment caused by news about good developments in the US-China trade relationships. The Australian Bureau of Statistics reported that the House Price Index fell 1.5% in the September quarter from the previous three months, matching the analysts’ general consensus, after falling 0.7% in the previous quarter. National Australia … “Aussie Gains on Positive News About US-China Trade War”
Chinese Yuan Strengthens Despite Poor Economic Data
The Chinese yuan is rising on Tuesday, despite the release of data that is reflecting poorly on the national economy. But investors might be focusing more on the US governmentâs actions on Huawei and the arrest of CFO Meng Wenzhou, which might lead to Beijing retaliating by targeting American executives. Ultimately, the situation could threaten the 90-day trade truce agreed upon by President Donald Trump and President Xi Jinping. According to the China Passenger Car … “Chinese Yuan Strengthens Despite Poor Economic Data”
British Pound Hits New Yearly Lows on Brexit News and Political Uncertainty
The British pound today dropped to new yearly lows in the American session after European Union officials insisted that they would not reopen Brexit negotiations. The pound made an about-turn after rallying higher in the early European session on positive Brexit news from Ireland regarding the Irish backstop amid positive UK jobs data. The GBP/USD … “British Pound Hits New Yearly Lows on Brexit News and Political Uncertainty”
Canadian Dollar Weakens on Falling Crude Prices, Mixed Data
The Canadian dollar is weakening against its American counterpart on Monday, driven by falling crude prices and mixed economic data. The loonie was looking to extend the momentum following last weekâs upbeat jobs report, but it has since joined other commodity currencies in the decline. Investors viewed the latest construction numbers as a mixed bag. According to Statistics Canada, Housing starts surged to a five-month high of 216,000, but this was … “Canadian Dollar Weakens on Falling Crude Prices, Mixed Data”
British Pound Crashes Against US Dollar on Delay of Crucial Brexit Vote
The Sterling pound today crashed against the US dollar following media reports that the crucial Brexit vote scheduled for tomorrow had been postponed by the Prime Minister. The pound had reacted in a stable fashion earlier in the day following the release of the latest monthly UK GDP estimate, which was in line with expectations. … “British Pound Crashes Against US Dollar on Delay of Crucial Brexit Vote”
USD/JPY: A Decline Below 112.23 To Confirm Selling Pressure But Downside Likely Limited – ING
Safe-haven flows sent the Japanese yen higher. What’s next? Will stocks continue lower? Here is their view, courtesy of eFXdata: ING discusses USD/JPY technical outlook and maintains a downward bias on a multi-day basis. “The recent trend change below the MA-50 line at 113.09 and the underlying trend line around 112.95 is suggesting short-term selling … “USD/JPY: A Decline Below 112.23 To Confirm Selling Pressure But Downside Likely Limited – ING”
Canadian Dollar Ends Week Lower on Risk Aversion, Falling Oil Prices
The Canadian dollar ended the week lower, joining other commodity currencies in decline. The main theme of the week was risk aversion on the Forex markets, which made safer currencies the strongest, while hurting riskier currencies related to raw materials and growth. The week started on a seemingly positive note on reports about a truce in the trade war between the United States and China. But the market sentiment quickly went south and deteriorated further in the second half … “Canadian Dollar Ends Week Lower on Risk Aversion, Falling Oil Prices”
US Dollar Falls on Weak Jobs Report, Capped by Strong Consumer Sentiment
The US dollar is tumbling at the end of the trading week as a new jobs report was weaker than expected. The greenbackâs losses were capped on a new survey that found consumer sentiment remains strong. With the equities markets in shambles, and the Federal Reserve behaving in a dovish manner, it is possible that the buckâs 2018 ascent may crumble heading into 2019. According to the Bureau of Labor Statistics (BLS), the US economy added … “US Dollar Falls on Weak Jobs Report, Capped by Strong Consumer Sentiment”