The Sterling pound today rallied higher against the US dollar following the release of upbeat UK wages data in the early European session. The pound was also boosted by investor hopes of another Brexit referendum after the Labour Party introduced a motion to back the same in Parliament. The GBP/USD currency pair today rallied from … “British Pound Rallies on Upbeat UK Wages Data Amid Brexit Hopes”
Month: January 2019
Chinese Yuan Weakens As Growth Slows to 28-Year Low
The Chinese yuan weakened against its major currency rivals to kick off the trading week as the latest gross domestic product (GDP) figures were released. And it was not pretty for the worldâs second-largest economy, though some traders are finding needles in a haystack with government data. On Monday, China announced that its official economic … “Chinese Yuan Weakens As Growth Slows to 28-Year Low”
BOJ has new reasons not to reach its inflation target
The BOJ is set to keep interest rates unchanged in the first decision of 2019. The global slowdown provides an excuse to push back the inflation targets. The decision will not change the yen’s safe-haven status anytime soon. The Bank of Japan makes its first rate decision for the year on Wednesday, January 23rd, late … “BOJ has new reasons not to reach its inflation target”
Canadian Dollar Declines Against US Peer on Weak Crude Oil Prices
The Canadian dollar today fell against its US counterpart as investors reacted to a drop in global crude oil prices during today’s session. The loonie, whose performance is closely linked to crude oil prices fell despite the lack of much activity around the greenback as US markets remain closed. The USD/CAD currency pair today rallied … “Canadian Dollar Declines Against US Peer on Weak Crude Oil Prices”
Australian Dollar Posts Small Losses After China’s Growth Slows
The Australian dollar demonstrated small losses during the current trading session after economic data showed slowing growth in China, Australia’s biggest trading partner. Trading was more quiet than usual today as US markets are closed for a holiday. The National Bureau of Statistics of China reported that gross domestic product grew 6.4% in the fourth quarter of 2018, year-on-year, slowing from the 6.5% rate of growth in the third quarter. It … “Australian Dollar Posts Small Losses After China’s Growth Slows”
EUR/USD: No New Signals From Next Week ECB Means EUR/USD Still At Stage 1 Of 3 – Danske
EUR/USD dropped from the highs as fears about the euro-zone grew. What’s next? The ECB is in focus. Here is their view, courtesy of eFXdata: Danske Research discusses its expectations for next week’s ECB policy meeting. “With no new policy signals expected next week, we stick to our three-stage rocket to orbit view for the … “EUR/USD: No New Signals From Next Week ECB Means EUR/USD Still At Stage 1 Of 3 – Danske”
US Dollar Ends Week Strong on Hopes for Improvement in Sino-US Trade Relationships
The US dollar was one of the strongest currencies during the trading week, mostly due to the optimism about Sino-US trade negotiations. Surprisingly, the Great Britain pound was also strong despite the unfolding Brexit drama. Trade talks between US and Chinese officials in Beijing was the main theme for the dollar during the week. Signs that China is going to continue buying US goods were welcomed by markets. And while US officials … “US Dollar Ends Week Strong on Hopes for Improvement in Sino-US Trade Relationships”
Canadian Dollar Firm After Better-than-Expected CPI Release
The Canadian dollar managed to gain on most of its major rivals today, excluding the US dollar, thanks to the better-than-expected inflation print released by Statistics Canada during the trading session. The Consumer Price Index rose 2.0% in December, year-over-year. Analysts were expecting the same 1.7% increase as in November. Month-on-month, the index rose 0.2% in December, seasonally adjusted, after falling 0.1% in November. The biggest contributor to the increase were airfares (+21.7%), offsetting the falling … “Canadian Dollar Firm After Better-than-Expected CPI Release”
US Dollar Gains on Mixed Data, China Trade News
The US dollar gained momentum on Friday, extending its gains over the past week. The greenback edged higher on mixed economic reports were released and breaking news that China is offering a $1 trillion-a-year olive branch on imports that could end the trade war almost immediately. Consumer sentiment cratered to its lowest level since President Donald Trump … “US Dollar Gains on Mixed Data, China Trade News”
Pound Drops From 2-Month Highs as UK Retail Sales Disappoint
The British pound today fell from yesterday’s 2-month highs against the US dollar following Theresa May‘s victory in the no-confidence vote against her on Wednesday. The GBP/USD currency pair today declined as markets monitored Brexit developments amid low volatility. The GBP/USD currency pair today dropped from a high of 1.2993 in the Asian session to … “Pound Drops From 2-Month Highs as UK Retail Sales Disappoint”