Aussie Rallies on Near-Record Trade Surplus, Retreats Later

The Australian dollar rallied today due to the unexpected increase of the trade surplus. The currency has lost gains against some of its rivals by now, while keeping them versus others. The Australian Bureau of Statistics reported that the trade balance logged a surplus of A$4.55 billion in January, up from A$3.77 billion in November. That is instead of a drop to A$2.85 billion predicted by economists. Moreover, it was the second largest surplus on record. … “Aussie Rallies on Near-Record Trade Surplus, Retreats Later”

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Japanese Yen Surges Despite Fears of Recession

The Japanese yen is rallying against a basket of currencies towards the end of the trading week, despite fears that the latest data might be signaling that Tokyo is in a recession. This has the central bank calling for additional stimulus should the national economy fall even further, which is applying more pressure on the federal government ahead of the important US-Japan trade talks. On Thursday, the Cabinet Office released the latest findings of its … “Japanese Yen Surges Despite Fears of Recession”

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EUR/USD levels to watch after Draghi’s 5 downers

The ECB and President Draghi went fully dovish sending the euro down. There are five significant moves that will continue reverberating. It is time to look at the next significant downside levels as EUR/USD falls out of balance. Here are the factors, followed by the levels: 1) Forward guidance: The ECB moved its pledge regarding low … “EUR/USD levels to watch after Draghi’s 5 downers”

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Canadian Dollar Falls After Dovish BoC Rate Decision and Statement

The  Canadian dollar today fell drastically against its US counterpart following the  Bank of  Canada‘s dovish interest rate decision. The  USD/CAD currency pair today rallied to  new 2-month highs following the  BoC’s cautious statement in  the  early North American session. The  USD/CAD currency pair today rallied from a  low of  1.3351 to  a  high of … “Canadian Dollar Falls After Dovish BoC Rate Decision and Statement”

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Chinese Yuan Weakens As State Stimulus, Bearish Forecasts Revealed

The  Chinese yuan is weakening against several major currency rivals midweek. As  the  federal government unveiled its multi-layered stimulus to  boost the  economy, new forecasts show that economists believe growth could plunge to  2% in  the  next decade, but not before growing 6% this year. China unveiled a  major tax cut package on  Tuesday, opening … “Chinese Yuan Weakens As State Stimulus, Bearish Forecasts Revealed”

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Australian Dollar Tumbles After GDP Misses Expectations

The Australian dollar sank versus other most-traded currencies today as Australia’s economic growth missed expectations, leading to speculations that the central bank may cut interest rates later this year. The Australian Bureau of Statistics reported that gross domestic product rose 0.2% in the December quarter from the previous three months on a seasonally adjusted basis. That is a slowdown from the previous quarter’s rate of growth of 0.3%. Analysts had … “Australian Dollar Tumbles After GDP Misses Expectations”

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EUR/USD: Staying Short; ECB To Retain A Decisively Dovish Tone- Barclays

The European Central Bank is unlikely to change its policy but its tone will make a difference. What does this mean for EUR/USD? Here is their view, courtesy of eFXdata: Barclays Research discusses its expectations for the EUR around the ECB March policy meeting on Thursday. Barclays maintains a tactical bearish EUR/USD bias, expressing that via holding … “EUR/USD: Staying Short; ECB To Retain A Decisively Dovish Tone- Barclays”

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Swiss Franc Loses Gains, Rising CPI Unable to Help

The Swiss franc attempted to rally during the Tuesday’s trading session on risk aversion caused by bad news from China. The Swissie failed to hold onto gains, though, and retreated against all other most-traded currencies by the end of the trading session. Positive domestic data was unable to support the currency. Switzerland’s Federal Statistical Office reported that the Consumer Price Index rose 0.4% in February from the previous month, matching market expectations … “Swiss Franc Loses Gains, Rising CPI Unable to Help”

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Canadian Dollar Weakens to Five-Week Low Ahead of BOC Decision

The Canadian dollar weakened to its lowest level against its American counterpart in five weeks. The multi-week low comes ahead of the central bank announcing its intentions on interest rates, and the world’s second-largest economy potentially striking a blow to the slowing Canadian economy. The loonie was lifted by a modest bump in energy prices. On Wednesday, the Bank of Canada (BOC) is expected to leave its benchmark rate at 1.75%, after raising rates 125 basis … “Canadian Dollar Weakens to Five-Week Low Ahead of BOC Decision”

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British Pound Declines on Brexit Cloud Amid Strong US ISM Data

The Sterling pound today fell against the US dollar despite the release of an upbeat fundamental print from the UK docket. The GBP/USD currency pair was weighed down by the looming Brexit deadline, which is just 24 days away with little sign of  a  deal being signed within the  time left. The  GBP/USD currency pair today rose to  a  high of  1.3198 in  the … “British Pound Declines on Brexit Cloud Amid Strong US ISM Data”

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