USD/JPY consolidates its gains at the highs amid stability in economic indicators. US retail sales stand out ahead of Easter. The technical picture is bullish for the pair. This was the week: Signs of economic recovery Chinese GDP growth beat expectations with 6.4% annualized growth in Q1. While many doubt the veracity of the data … “USD/JPY capped at the double-top, all eyes on US GDP”
Month: April 2019
Euro Falls to Weekly Lows on Weak PMI Prints From the Euro Area
The euro today fell to new weekly lows against the US dollar following the release of disappointing German manufacturing PMI by IHS Markit earlier today. The EUR/USD currency pair fell to new lows after PMI data indicated that the euro area manufacturing sector was still contracting at a fast rate. The EUR/USD currency pair today fell from a session high … “Euro Falls to Weekly Lows on Weak PMI Prints From the Euro Area”
Loonie Gains on CPI & Trade Balance, Struggles to Keep Gains
The Canadian dollar gained on Wednesday thanks to positive domestic macroeconomic data. At the start of Thursday’s trading session the currency was losing its gains. Canada’s Consumer Price Index rose 0.3% in March from the previous months, seasonally adjusted. Without seasonal adjustments, the index rose 0.7% — the same as in February and in line with expectations. Year-on-year, the seasonally adjusted CPI rose 1.9%, accelerating from February’s 1.5%. The median CPI rose 2.0% … “Loonie Gains on CPI & Trade Balance, Struggles to Keep Gains”
NZ Dollar Drops After Inflation Misses Expectations
The New Zealand dollar dropped on Wednesday after domestic inflation data disappointed traders, increasing bets on an interest rate cut by the Reserve Bank of New Zealand. Statistics New Zealand reported that the Consumer Price Index rose 0.1% in the March quarter of 2019 from the previous three months, the same as in the December quarter of 2018. Market participants were counting on a bigger increase of 0.3%. Year-on-year, the CPI rose 1.5%. Yesterday, the GlobalDairyTrade Price … “NZ Dollar Drops After Inflation Misses Expectations”
Australian Dollar Mixed After Positive China’s GDP
The Australian dollar was mixed on Wednesday. The currency was flat against such rivals as the US dollar and the Japanese yen after swinging back and forth between gains and losses, fell versus the euro, but gained on the Swiss franc. The National Bureau of Statistics of China reported that China’s gross domestic product rose 6.4% in the first quarter of 2019, year-on-year, demonstrating the same rate of growth as in the fourth quarter of 2018. Analysts had predicted … “Australian Dollar Mixed After Positive China’s GDP”
British Pound Hits New Weekly Lows As UK Inflation Disappoints
The Sterling pound today fell against the US dollar as UK inflation missed expectations to extend the pound’s losses against the greenback. The GBP/USD currency pair was also weighed down by the deadlock in Brexit negotiations between Theresa May‘s government and the opposition party. The GBP/USD currency pair today fell from its Asian session high of 1.3067 to low of 1.3028 in the American session … “British Pound Hits New Weekly Lows As UK Inflation Disappoints”
US Dollar Mixed on Weak Industrial Output, Lower Trade Deficit
The US dollar is mixed against a basket of currencies midweek as the buck finds direction on the latest release of key economic data. Investors are combing through industrial production numbers, trade deficit data, and the national mortgage market that could provide insight into the real estate industry. Last month, industrial production declined, driven primarily by a drop in mining output. According to the Federal Reserve, industrial output, which combines numbers … “US Dollar Mixed on Weak Industrial Output, Lower Trade Deficit”
EUR/USD fears another devastating German PMI
Germany, the largest economy in Europe, is suffering major hiccups. The forward-looking Manufacturing PMI is closely watched after last month’s nasty surprise. EUR/USD watches is looking for a new direction. Markit releases its forward-looking Purchasing Managers’ Indices for Germany on Thursday, April 18th, at 7:30 GMT. The 500-strong survey of around purchasing managers asks them … “EUR/USD fears another devastating German PMI”
USD/JPY Reached the 112 Target
The US dollar versus Japanese yen managed to use the 110 area as a support and jump to 112, opening new possibilities. Long-term perspective The pair is in an ascending move from 106.92. After stagnating at the 112 resistance on the beginning of March 2019, the profit taking phase of those who bought from 106.92 and subsequent resistance levels that tuned into support — mainly 108.12 and 108.90 — caused a decline that tested the double support established … “USD/JPY Reached the 112 Target”
Euro Weakens as US Dollar Recovers During the American Session
The euro today traded in a see-saw pattern against the US dollar marked by extreme rallies and declines to culminate in a sustained drop during the American session. The EUR/USD currency pair today fell as the US dollar rallied and investor sentiment shifted in favor of safe haven assets such as the greenback even as … “Euro Weakens as US Dollar Recovers During the American Session”