The British pound today rallied higher against the US dollar from the early European session following the release of upbeat UK retail sales data for January. The GBP/USD currency pair was trading in a see-saw fashion during the Asian session as investors remained indecisive regarding the Sterling. The GBP/USD currency pair today rallied from a … “Pound Rallies on Upbeat UK Retail Sales as May Loses Indicative Vote”
Month: February 2019
NZ Dollar Defies Negative Fundamentals, Bouncing After Decline
The New Zealand dollar rallied today after falling earlier. Surprisingly, the rally started after the release of disappointing macroeconomic reports in China — New Zealand’s biggest trading partner. Domestic macroeconomic data, which was not that great as well, had smaller impact on the currency. Yet it was also puzzling, driving the kiwi slightly higher, not lower. The National Bureau of Statistics of China reported that the Consumer Price Index … “NZ Dollar Defies Negative Fundamentals, Bouncing After Decline”
Yen Reverses Gains Caused by Risk Aversion, Japan’s Macroeconomic Data Matches Expectations
The Japanese yen rose earlier today amid risk aversion caused by apparent lack of progress in the Sino-US trade talks. By now, though, the currency trimmed its gains, erasing them against some peers completely. Japan’s macroeconomic data released during the trading session was in line with expectations. Japan’s Ministry of Economy, Trade and Industry reported that industrial production fell 0.1% in December from the previous month according to the final … “Yen Reverses Gains Caused by Risk Aversion, Japan’s Macroeconomic Data Matches Expectations”
USD/JPY rally may have ended and more falls could come
USD/JPY extended its advance but dropped on a risk-off atmosphere. The FOMC Meeting Minutes stand out and trade remains in the limelight. The technical picture is marginally bullish for the pair. This was the week: Talks continue, US retail sales plunge US-Chinese talks were held at top-level in Beijing between US Trade Representative Robert Lighthizer, Treasury Secretary … “USD/JPY rally may have ended and more falls could come”
USD: US CPI: Nothing In It To Sway The Fed From Doing ‘Nothing’ For Now – CIBC
Inflation is on the rise in the US and some suspect a rate hike is coming. Perhaps not so fast. Here is their view, courtesy of eFXdata: “By the magic of seasonal adjustment and methodology revisions, US CPI managed to be both a bit hotter and a bit cooler than expectations at the same time. … “USD: US CPI: Nothing In It To Sway The Fed From Doing ‘Nothing’ For Now – CIBC”
US Dollar Weakens on Retail Sales Plunge, Jobless Claims Jump
The US dollar is weakening against a basket of currencies on Thursday as new data is souring economic outlooks. Retail, inflation, and even jobs impacted the greenback towards the end of the trading week, leaving investors concerned that a contraction is on the horizon. According to the US Census Bureau, retail sales tumbled 1.2% in December, recording their biggest decline in nine years. The market had expected the data to be flat. The declines were seen … “US Dollar Weakens on Retail Sales Plunge, Jobless Claims Jump”
Loonie Tumbles After Surprising Drop of Manufacturing Sales
The Canadian dollar declined against all other most-traded currencies today as poor macroeconomic data in Canada and the United States weighed on the loonie. The Canadian currency has trimmed its losses by now but still remained far below the opening level. Statistics Canada reported that manufacturing sales declined 1.3% in December, demonstrating the third consecutive monthly drop. The main reason for the decline was lower sales of petroleum and coal products. The actual … “Loonie Tumbles After Surprising Drop of Manufacturing Sales”
Euro Declines on Mixed GDP Releases, Rallies on Weak US Retail Sales
The euro today headed lower against the US dollar in the early European session before posting slight gains after the release of in-line eurozone Q4 GDP data. The EUR/USD currency pair later spiked higher following the release of disappointing US retail sales data for December. The EUR/USD currency pair today fell to a low of 1.1249 … “Euro Declines on Mixed GDP Releases, Rallies on Weak US Retail Sales”
Swiss Franc Gains Despite Falling PPI
The Swiss franc gained on most major currencies today, which was surprising considering risk appetite on markets and poor macroeconomic data in Switzerland. Switzerland’s Federal Statistical Office reported that the Producer Price Index fell 0.7% in January from the previous month after decreasing 0.6% in December. Analysts had predicted a smaller decline by 0.4%. The report explained that lower prices for petroleum products was the main reason for the decline. USD/CHF … “Swiss Franc Gains Despite Falling PPI”
Australian Dollar Retreats After Rising on China’s Trade Data
The Australian dollar was trading strong at the beginning of the Thursday’s trading session, though it has retreated by now. The rally was a result of positive macroeconomic data in China — Australia’s biggest trading partner. China’s trade balance demonstrated a surplus of $39.16 billion in January, down from $57.06 billion in December but exceeding the average forecast of $33.5 billion excess. Diving deeper into the report, its components were much better than … “Australian Dollar Retreats After Rising on China’s Trade Data”