The British pound today fell to new weekly lows against the US dollar driven by rumors of stalled talks between the UK government and the opposition party. The GBP/USD currency pair was stuck in range up to the mid-London session when the Labour Party leader stated that there was no agreement on a customs union … “British Pound Falls on Rumors of Stalled Bi-Partisan Brexit Talks”
Month: April 2019
Canadian Dollar Continues Rally on Higher Auto Sales
The Canadian dollar is continuing its tear on Tuesday as the loonie was lifted against major currency rivals on strong automobile sales. The dollarâs gains were capped by disappointing manufacturing numbers, which could signal a cooling economy. Investors will now look ahead to inflation and retail receipts this week. According to Statistics Canada, new motor … “Canadian Dollar Continues Rally on Higher Auto Sales”
GBP/USD could rise on an OK UK inflation report
UK inflation has likely risen in March back to the target. The BOE is still paralyzed by Brexit but will take note. With Brexit on break, a second consecutive positive number may already lift the pound. The UK publishes its inflation report on Wednesday, April 17th, at 8:30 GMT. The headline Consumer Price Index (CPI) … “GBP/USD could rise on an OK UK inflation report”
Chinese Yuan Weakens As Stimulus Kicks In
The Chinese yuan is weakening to start the trading week as new economic data suggests that the federal government’s stimulus program may finally be seeping into the economy. On Monday, a couple of new reports and forecasts suggest an improvement for the worldâs second-largest economy in recent months after a brutal 2018. With the US-China trade war in its end days, the economy might finally kick into overdrive. The Peopleâs Bank of China (PBOC) reported … “Chinese Yuan Weakens As Stimulus Kicks In”
Factors Affecting New Zealand Dollar During Week of 15-19 April 2019
The New Zealand dollar performed well during the past trading week. What factors will be affecting the currency during the current week? The most important domestic event for the currency of New Zealand should be New Zealand’s Consumer Price Index due for release overnight between Tuesday and Wednesday. Analysts had estimated ahead of the report that quarterly consumer inflation accelerated to 0.3% in the first three months of this year from … “Factors Affecting New Zealand Dollar During Week of 15-19 April 2019”
AUD/USD Trying to Make Important Changes
The Australian dollar versus the US dollar got to an area that surprises the bears, which were convinced that they have the market on their side. Long-term perspective The currency pair was in a well established descending channel that began on January 31, 2018, leaving behind the clear picture that the bears are in well shape. But, after the 0.7055 support level did not gave way, the price cleared the resistance line … “AUD/USD Trying to Make Important Changes”
Swiss Franc Soft amid Risk Appetite, Rising PPI Doesn’t Help
The Swiss franc was soft today amid mild risk appetite on the Forex market. Market analysts speculated that traders were more willing to risk due to hopes for a Sino-US trade deal in the near future. Decent domestic macroeconomic data did not help the Swissie. The Federal Statistical Office reported that the Producer Price Index rose 0.3% in March from the previous month. The report said that “higher prices for petroleum … “Swiss Franc Soft amid Risk Appetite, Rising PPI Doesn’t Help”
Pound Rises amid Calm Trading, Housing Data Supports
The Great Britain pound rose today in absence of any significant news after the Brexit extension till October 31. Positive domestic macroeconomic data might have helped the currency a bit. The Rightmove House Price Index rose 1.1% in April, the biggest monthly increase in over a year and the biggest gain for this time of year since 2016. The index was up 0.4% in March. The report mentioned the Brexit delay as a positive factor that … “Pound Rises amid Calm Trading, Housing Data Supports”
Euro Trades Near 3-Week Highs Driven by Risk Sentiment, Later Drops
The euro today rallied almost to 3-week highs against the US dollar in move that is likely to see it post its first weekly gain following three consecutive weekly drops. The EUR/USD currency pair today rallied higher driven by a shift in investor risk appetite, which saw markets bid up riskier assets such as stocks, … “Euro Trades Near 3-Week Highs Driven by Risk Sentiment, Later Drops”
Japanese Yen Weakens As Tokyo Braces for US Trade Fight
The Japanese yen is weakening against several major currency rivals at the end of the trading week. With a potential US-Japan trade war on the horizon, investors are frightened that anticipations of shrinking exports could lead to an economic contraction for the worldâs third-largest economy. Can Tokyo turn things around before trade talks with Washington … “Japanese Yen Weakens As Tokyo Braces for US Trade Fight”