The ECB left all its policies unchanged, including guidance. Draghi’s warning about downside risks weighs on EUR/USD. The ECB pressures EUR/USD, and more may be in store. The European Central Bank left its interest rates unchanged, including the deposit rate, which will not be “tiered” anytime soon, according to President Mario Draghi. They also left … “EUR/USD could fall even further on Draghi’s dovishness”
Month: April 2019
Norwegian Krone Jumps After Inflation Data
The Norwegian krone climbed today, reaching the highest level for the year against the euro. The reason for the sharp rise was the better-than-expected inflation print released during the trading session. Statistics Norway reported that the Consumer Price Index rose 2.9% in March from the same month a year ago. The core CPI rose 2.7%, beating the average forecast of 2.5%. Month-over-month, the CPI rose 0.2%, while the core CPI rose 0.3%. The positive inflation … “Norwegian Krone Jumps After Inflation Data”
Australian Dollar Firm, Boosted by Domestic Fundamentals
The Australian dollar demonstrated good performance today as news from Australia was good, providing support to the currency. Judging by the gains of commodity currencies and lack of demand for safer ones, the market sentiment was relatively optimistic, which is surprising considering that recent news from around the world gave no reason for optimism. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 1.9% in March following the 4.8% drop registered in February. The report … “Australian Dollar Firm, Boosted by Domestic Fundamentals”
Yen Soft Despite Cautious Market Sentiment, Mixed Data Doesn’t Help
The Japanese yen was soft today, failing to profit from its role as a safe haven, even as investors were nervous after the International Monetary Fund downgraded the global growth outlook and the United States showed willingness to enter a trade war with the European Union. Mixed domestic macroeconomic data did not help the currency. Lending by Japanese banks increased 2.4% in March, year-on-year, whereas analysts had expected the same 2.3% … “Yen Soft Despite Cautious Market Sentiment, Mixed Data Doesn’t Help”
EUR/CAD Caught Between Two Levels
The advance of the euro vs. Canadian dollar is postponed by the indecision that came to be after the pair fell between the lines of two significant levels. Long-term perspective The retreat that started on January 2, 2019, from 1.5640 brought the price under the major resistance level of 1.5200, which is also a psychological level. It then continued until hitting 1.4900 and made a low at 1.4878 on February 25, 2019. From there … “EUR/CAD Caught Between Two Levels”
Pound Trades in Wide Range Driven by Brexit Headlines
The Sterling pound today traded in a wide range against the US dollar driven by multiple Brexit headlines as the deadline for Britain’s exit from the EU looms. The GBP/USD currency pair today traded in an almost 100-pip range as investors reacted to different headlines most of which indicated that a Brexit deal was not close to being done. The GBP/USD currency pair today traded in a range marked by a high … “Pound Trades in Wide Range Driven by Brexit Headlines”
Canadian Dollar Weakens on IMF Forecast, Crude Oil
The Canadian dollar is weakening on Tuesday after the International Monetary Fund (IMF) published a bearish report on the Canadian economy. The loonie endured additional pressure on tumbling energy prices, which is never good news for a country whose main export is crude oil. On Tuesday, the IMF slashed its growth estimate for Canada, projecting that the gross domestic product (GDP) will expand just 1.5% in 2019. This is down … “Canadian Dollar Weakens on IMF Forecast, Crude Oil”
Norwegian Krone Rallies Despite Slowing Economic Growth
The Norwegian krone rallied against the US dollar today even as Norway’s economic growth slowed. Statistics Norway reported that the nation’s economy demonstrated growth by 0.6% in the period between December and February, down from 0.9% in the previous reporting period. The sharp decrease in the production of electricity was the main reason for the slowdown. Now, traders wait for inflation data due for release tomorrow. USD/NOK fell from 8.5434 to 8.5258 as of 12:36 GMT today. … “Norwegian Krone Rallies Despite Slowing Economic Growth”
Australian Dollar Gets Boost from Housing Data & Crude Oil
The Australian dollar rose against its most-traded rivals today, supported by domestic macroeconomic data and other positive fundamentals. There were negative factors as well, but positive ones had ultimately bigger impact. The Australian Bureau of Statistics reported that the seasonally adjusted number of lending commitments to household rose 2.6% in February following the 2.3% drop in January. Analysts had predicted a drop by 3.0%. Market analysts speculated that the recent … “Australian Dollar Gets Boost from Housing Data & Crude Oil”
Euro Rallies to New Monthly Highs Amid Stable Market Environment
The euro today rallied to new April highs against the US dollar driven largely by positive investor sentiment amid a calm market environment. The EUR/USD currency pair today rallied higher boosted by the selling pressure around the greenback and the shrinking yield spread between US and German bonds. The EUR/USD currency pair today rallied from … “Euro Rallies to New Monthly Highs Amid Stable Market Environment”