The Japanese yen was among the strongest currencies on the Forex market today, though the currency has retreated by now. Poor domestic macroeconomic data had a limited impact on the currency. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index dropped from 50.3 in January to 48.9 in February. It was the lowest level in 32 months. Indices for all industry activity fell 0.4% in December from the previous month, whereas analysts had predicted … “Japanese Yen Retreats After Rallying Earlier, Undisturbed by Poor Data”
Month: February 2019
Australian Dollar Gains on Employment, Retreats on Bad News
The Australian dollar rallied earlier during the Thursday’s trading session on the back of robust domestic employment growth but retreated later due to a range of negative fundamentals. The Aussie rallied after the Australian Bureau of Statistics reported that employers added 39,100 jobs in January compared to the previous month on a seasonally adjusted basis, much more than analysts had predicted — 15,200. The unemployment rate remained at 5.0%, as was expected. The currency pulled back, … “Australian Dollar Gains on Employment, Retreats on Bad News”
Chinese Yuan Strengthens As Investors, Officials Weigh Economy
The Chinese yuan is strengthening midweek as foreign exchange markets are taking a break from combing through data. But investors and officials are weighing decisions that may or may not boost national growth, including in the rural areas of the worldâs second-largest economy. On Tuesday, Beijing announced that it will release intensive reforms of Chinaâs agriculture sector to advance its rural economy as part of efforts to offset trade challenges, … “Chinese Yuan Strengthens As Investors, Officials Weigh Economy”
Pound Declines Amid Brexit Uncertainty and Tory Party Defections
The Sterling pound today was on a downtrend against the US dollar as investors reacted to the Brexit stalemate among UK leaders, which has led to party defections. The GBP/USD currency pair declined for most of the Asian session before consolidating in the European session, but was rallying higher at the time of writing. The GBP/USD … “Pound Declines Amid Brexit Uncertainty and Tory Party Defections”
USD: 3 Things To Look At The FOMC Minutes On Wed – BofAML
The Fed is due to deliver its meeting minutes later in the day. What can we expect? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch Research discusses its expectations for tomorrow’s FOMC minutes from the January meeting. “The minutes of the January FOMC meeting will be of particular interest given the … “USD: 3 Things To Look At The FOMC Minutes On Wed – BofAML”
USD: FOMC Minutes To Reveal If Hike Cycle If Complete Or Still Part Of Baseline Outlook – Barclays
The FOMC Meeting Minutes may reveal more about the next steps due by the Federal Reserve. Where will the USD go? Here is their view, courtesy of eFXdata: Barclays Research discusses its expectations for the FOMC minutes from the January meeting. “We look to the minutes of the January FOMC meeting for insights as to … “USD: FOMC Minutes To Reveal If Hike Cycle If Complete Or Still Part Of Baseline Outlook – Barclays”
Canadian Dollar Gains on Lack of Data, Higher Energy Prices
The Canadian dollar is taking advantage of the lack of data and news on Tuesday, rallying mostly on higher energy prices. After several consecutive reports of mixed numbers, the loonie is enjoying a breather and making gains against some of its currency rivals. In recent days, it was revealed that manufacturing sales fell 1.3% in December, new housing prices were flat, hourly wage growth was up 1.8% in January, and the Canadian … “Canadian Dollar Gains on Lack of Data, Higher Energy Prices”
Swedish Krona Plunges After Inflation Slows Unexpectedly
The Swedish krona tanked today after nation’s inflation slowed unexpectedly last month, threatening the central bank’s plans to raise interest rates. Sweden’s annual consumer inflation slowed to 1.9% in January from 2.0% in the previous month. That was contrary to analysts’ forecasts, which promised an increase to 2.2%. Previously, the krona was supported by prospects for an interest rate hike in the second half of this year. But such prospects diminished after … “Swedish Krona Plunges After Inflation Slows Unexpectedly”
Sterling Gains on Employment Data, Prospects for Delayed Brexit
The Great Britain pound gained today after employment data showed strong performance of the labor market in Britain. Prospects for a delay for the Brexit also supported the currency. The Office for National Statistics released a report on the UK labor market in the period from October to December, which showed very strong numbers. The employment rate was at 75.8%, the highest since estimates began in 1971. The unemployment rate remained at 4%, and no lower figures have been … “Sterling Gains on Employment Data, Prospects for Delayed Brexit”
Euro Drops on Weak Data amid Investor Fears of New US Car Tariffs
The euro today was on a downtrend against the US dollar from the early Asian session as investors worried about the introduction of new car tariffs by the US. The pair spiked higher briefly in the early European session, but quickly gave up its gains following the release of weak macro data from across the … “Euro Drops on Weak Data amid Investor Fears of New US Car Tariffs”