The Australian dollar ended the week as one of the weakest currencies on the Forex market despite mild risk appetite, caused by hopes for a positive outcome in the Sino-US trade negotiations that were extended through the weekend. Among negative factors weighing on the Aussie was the prediction by Westpac Banking Corporation of two interest rate cuts by the Reserve Bank of Australia this year. News that China banned Australian coal imports from Dalian, one of the biggest … “Aussie Ends Week Among Weakest Currencies Despite Risk Appetite”
Month: February 2019
Canadian Dollar Surges Despite Disappointing Retail Sales
The Canadian dollar is strengthening against a basket of currencies at the end of the trading week, despite disappointing retail sales data. The loonieâs performance also comes as the central bank warned that the path of interest rates remains âuncertain,â leaving markets guessing when the next rate hike will take place in 2019 â if at all. According to Statistics Canada, December retail sales fell 0.1% to $50.4 billion, beating median estimates … “Canadian Dollar Surges Despite Disappointing Retail Sales”
EUR/USD Pair Extends Range-Bound Action for Third Straight Session
The EUR/USD currency pair today extended its range-bound trading pattern for the third consecutive session as the pair reacted to mixed German data and news headlines. The currency pair’s performance was influenced by headlines regarding the US-China trade negotiations and Brexit developments, but investors remained undecided. The EUR/USD currency pair today traded in a wide … “EUR/USD Pair Extends Range-Bound Action for Third Straight Session”
USD/JPY ready to break out of range, waiting for Powell and US GDP
USD/JPY traded in a range in a week dominated by US Dollar weakness. Fed Chair Powell’s testimony and the long-awaited US GDP report stand out. The technical picture is mixed for the pair. This was the week: Trade progress, Fed dovishness USD/JPY traded in range amid a mix of events that kept things balanced. Trade: Talks between … “USD/JPY ready to break out of range, waiting for Powell and US GDP”
CAD rising oil and USD weakness, but now faces two big tests
USD/CAD dropped as the greenback retreated on a dovish Fed, Canadian inflation and GDP numbers stand out. The technical picture is mixed for the pair. This was the week: Weaker USD, higher oil prices The US dollar was on the back foot for three reasons: 1) The FOMC Meeting Minutes confirmed the dovish twist by the Fed, … “CAD rising oil and USD weakness, but now faces two big tests”
Australian Dollar Gains Even as RBA Chief Mentions Higher Chances of Interest Rate Cut
The Australian dollar was the strongest currency on the Forex market today as traders were cautiously optimistic, waiting for the outcome of the US-China trade negotiations in Washington. The chief of Australia’s central bank reiterated that chances of an interest rate cut increased, but that hardly affected the currency. Philip Lowe, Governor of the Reserve Bank of Australia, was speaking today. He made some dovish remarks, talking about “the accumulation of downside risks.” As a result, Lowe … “Australian Dollar Gains Even as RBA Chief Mentions Higher Chances of Interest Rate Cut”
NZ Dollar Rebounds After Falling on Interest Rate Cut Speculations
The New Zealand dollar fell intraday after the nation’s central bank proposed to raise capital requirements for New Zealand’s top banks, leading to speculations that an interest rate cut may follow. The currency has rebounded by now, though, even gaining against some of its rivals. The Reserve Bank of New Zealand proposed to raise capital requirements for the nation’s four biggest banks as a measure “of levelling the playing field.” In response to concerns that … “NZ Dollar Rebounds After Falling on Interest Rate Cut Speculations”
Japan’s Inflation Matches Expectations, Yen Falls on Risk Appetite
The Japanese yen fell today amid mild risk appetite on markets. Japan’s inflation came out within expectations but was still far away from the central bank’s 2% target. The national Consumer Price Index rose 0.2% in January from a year ago, slowing from 0.3% in December. Core inflation was at 0.8%. It was within expectations and slightly higher than 0.7% in the previous month. USD/JPY edged … “Japan’s Inflation Matches Expectations, Yen Falls on Risk Appetite”
US Dollar Mixed on Flood of Economic Data
The US dollar is mixed against a basket of major currencies on Thursday. With a flood of economic data, traders are sifting through the numbers and finding a play in the greenback. The US-China trade negotiations are also lingering in the background, something that could soon play a factor in the dollar in the coming weeks because reports suggest a new trade agreement is on the brink of happening. According to the US Census Bureau, durable goods orders â … “US Dollar Mixed on Flood of Economic Data”
Euro Trades Sideways on Mixed Eurozone PMIs and ECB Minutes
The euro today traded with significant moves in both directions within a wide range as the single currency was buffeted by shifting investor sentiment throughout the session. Investors reacted both positively and negatively to various key developments during the day such as the Markit Germany Services PMI causing the EUR/USD pair to whipsaw within a wide … “Euro Trades Sideways on Mixed Eurozone PMIs and ECB Minutes”