The Great Britain pound declined today, dragged down by poor performance of the housing market and Brexit worries. The currency fell versus all of its most-traded rivals, including the Japanese yen, which itself was soft. Royal Institution of Chartered Surveyors released its UK Residential Market Survey for January, showing that the house price balance worsened to -22% last month from -19% the month before. Market analysts had expected … “Pound Under Pressure from Poor Housing Data, Brexit Worries”
Month: February 2019
USD/SEK Rises Despite Prospects of Higher Interest Rates in Sweden
The Swedish krona behaved today similarly to yesterday, gaining on the US dollar intraday but falling afterwards. Yesterday, Sweden’s central bank left interest rates unchanged but signaled about prospects of a hike in the second half of this year. The Riksbank held the repo rate unchanged at -0.25%, saying that the economic situation has not changed “to any great extent.” As for recent economic developments, the central bank stated: Economic developments in Sweden … “USD/SEK Rises Despite Prospects of Higher Interest Rates in Sweden”
Japanese Yen Softens After Disappointing GDP Growth
The Japanese yen fell a bit after the release of a disappointing GDP report and was also under pressure from the risk-on market sentiment. Japan’s gross domestic product rose 0.3% in the fourth quarter of 2018 from the previous three months. While it was a better result than the 0.7% decline registered in the third quarter, the increase missed the median forecast of 0.4%. The GDP Deflator fell 0.3%, year-on-year, the same as in the previous quarter and less … “Japanese Yen Softens After Disappointing GDP Growth”
US Dollar Rebounds Despite Headline Inflation Miss
The US dollar was weak in the first half of Wednesday’s trading session but reversed losses versus some currencies later, erasing them against others outright. Slight miss of inflation print did not prevent the rebound. In fact, the greenback climbed after the worse-than-expected data. The Bureau of Labor Statistic reported that the Consumer Price Index was unchanged in January from the previous month, seasonally adjusted. Analysts had predicted a small … “US Dollar Rebounds Despite Headline Inflation Miss”
Euro Suffers from Falling Industrial Production
The euro was weak across the board today. Market analysts explained the currency’s poor performance by worse-than-expected industrial production in the eurozone. Eurozone industrial production contracted 0.9% in December from the previous month after falling 1.7% in November. Analysts had expected a smaller decline by 0.4%. Industrial production in the whole European Union fell by 0.5%. EUR/USD tumbled from 1.1324 to 1.1266 as of 21:12 GMT today. EUR/JPY was almost flat at 125.06, … “Euro Suffers from Falling Industrial Production”
Chinese Yuan Surges Amid Trade Deal Optimism, Ignores Bearish Reports
The Chinese yuan is surging midweek as investors are optimistic about Washington and Beijing nearing a new trade agreement that would end this year-long standoff between the worldâs two largest economies. Although President Donald Trump and President Xi Jinping will not meet prior to the March 1 deadline, both sides are positive that crucial developments can be made in the final days of the trade truce. Before … “Chinese Yuan Surges Amid Trade Deal Optimism, Ignores Bearish Reports”
Aussie Gains on Risk Appetite, Recovering Consumer Sentiment
The Australian dollar gained today amid risk appetite caused by hopes for a successful outcome of trade negotiations between China and the United States. Positive domestic macroeconomic data also helped the Australian currency. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 4.3% in February from the previous month. The improvement followed the sharp drop of the index by 4.7% in January. The report suggested that the recent change of the central bank’s monetary policy stance played part … “Aussie Gains on Risk Appetite, Recovering Consumer Sentiment”
Pound Falls on Weak CPI Data, Spikes Higher on Brexit Rumors
The British pound today traded in an erratic manner against the US dollar as it rallied higher in the Asian session, before falling, and then spiking higher on Brexit rumors. The GBP/USD currency pair was not done with its sudden moves as it quickly retraced all its gains and headed lower in the American session … “Pound Falls on Weak CPI Data, Spikes Higher on Brexit Rumors”
NZ Dollar Soars After RBNZ Releases Neutral Statement
The New Zealand dollar surged today after the Reserve Bank of New Zealand surprised the market, releasing a neutral monetary policy statement, whereas market participants had expected more dovish bias. The RBNZ left its main interest rate unchanged at 1.75% today, as was widely expected. The central bank said in the accompanying statement: We expect to keep the OCR at this level through 2019 and 2020. The bank also stated: We … “NZ Dollar Soars After RBNZ Releases Neutral Statement”
Bitcoin, Ethereum, Ripple face clear caps that once broken, may set them loose
Cryptocurrencies continue consolidating as the next moves are awaited. All three have clear caps they must cross in order to move higher. Here are the levels to watch according to the Confluence Detector, our proprietary tool. Not much has changed in the world of cryptocurrencies in the past 24 hours. Prices have been stable and … “Bitcoin, Ethereum, Ripple face clear caps that once broken, may set them loose”