The Australian dollar dropped today after retail sales rose less than was expected. The Australian Bureau of Statistics reported that retail sales rose 0.1% in May from April after falling at the same rate in the previous month. Market participants were counting on a slightly bigger increase by 0.2%. AUD/USD slipped from 0.7028 to 0.7023 as of 11:33 GMT today, retreating after the rally to the daily high of 0.7047. EUR/AUD gained from … “Australian Dollar Falls After Retail Sales Miss Expectations”
Month: July 2019
EUR: Trading Where It Should But A Notch Cheap ; AUD: The Favorite Antipode – TD
The common currency and the Australian dollar are looking for a new direction. What’s next? Here is their view, courtesy of eFXdata: TD Research discusses its tactical views on EUR and AUD. TD is neutral on EUR and bullish on AUD in the near-term. “Over the past three years, for instance, the price action (6m … “EUR: Trading Where It Should But A Notch Cheap ; AUD: The Favorite Antipode – TD”
Choosing The Forex Broker For Your Needs
The market for Forex brokers is so crowded, so diverse, and so competitive that simply choosing the right broker for your needs is one of the most challenging decisions you can be required to make as an investor. Knowing precisely what to look for, and the pitfalls to avoid is the number one choice you … “Choosing The Forex Broker For Your Needs”
Sterling Weakest on Forex After String of Bad PMIs
The Great Britain pound was the weakest major currency on the Forex market today. The main reason for that was the string of bad PMI reports, which led to concerns that Britain’s economic growth slowed in the second quarter of 2019. The seasonally adjusted IHS Markit/CIPS UK Services PMI logged 50.2 in June, whereas market participants were counting on the same 51.0 reading as in May. The index hit the lowest level in three months. And while … “Sterling Weakest on Forex After String of Bad PMIs”
Euro Rallies on Upbeat Eruozone PMIs, Falls Despite Weak US Data
The euro today rallied higher following the release of mostly upbeat PMI reports from across the eurozone by Markit Economics in the early European session. The EUR/USD currency pair later fell in the early American session despite the disappointing US releases driven by subdued investor risk sentiment ahead of tomorrow’s US holiday. The EUR/USD currency … “Euro Rallies on Upbeat Eruozone PMIs, Falls Despite Weak US Data”
US Dollar Stands Ground vs. Majors After ADP Employment Misses
The US dollar was soft versus riskier commodity currencies but stood ground against majors. The greenback was especially strong against European majors such as the euro, the Great Britain pound, and the Swiss franc. The main hurdle for the US currency today was the disappointing employment report from Automatic Data Processing. The ADP report showed a growth of employment by 102,000 in June, whereas markets were counting on an increase by 140,000. The disappointing reading … “US Dollar Stands Ground vs. Majors After ADP Employment Misses”
Russian Ruble Slumps on Weak Data, Geopolitical Risk
The Russian ruble is slumping midweek after a few pieces of economic data disappointed investors. This comes one day after the currency endured major swings on reports of a possible military fallout between the US, Russia, and the European Union following several events that appeared to be isolated from one another. Despite a strong finish … “Russian Ruble Slumps on Weak Data, Geopolitical Risk”
Canadian Dollar Gets Boost from Trade Surplus, Crude Oil Prices
The Canadian dollar gained on its most-traded rivals today, gaining help from the positive domestic trade data, which showed an unexpected surplus, and rising prices for crude oil, Canada’s major export commodity. Statistics Canada reported that the trade balance posted a C$762 million surplus in May, which followed the C$1.1 billion deficit in April. That was a total surprise to market participants, who were expecting the deficit to increase to C$1.7 … “Canadian Dollar Gets Boost from Trade Surplus, Crude Oil Prices”
Swedish Krona Strong After Riksbank Leaves Rates Unchanged
The Swedish krona gained today after the nation’s central bank decided to keep interest rates unchanged and signaled about possibility of a hike in the future. The Riksbank left its main interest rate at -0.25% at today’s meeting. Such decision was widely expected by market participants. The central bank cited following reasons for its decision: Economic activity in Sweden remains strong and inflation is close to the target of 2 per cent. Furthermore, the bank … “Swedish Krona Strong After Riksbank Leaves Rates Unchanged”
Slowing Inflation & Prospects for Interest Rate Cuts Don’t Prevent Turkish Lira from Rising
The Turkish lira rose today despite slowing inflation and prospects for interest rate cuts from the nation’s central bank. Turkey’s annual inflation rate dropped to 15.7% in June from 18.7% in the previous month, touching the lowest level in a year. Furthermore, it was the steepest decline in eight months. And on top of that, the annual core inflation rate slowed to 14.9% in June from 15.9% in May. It was the lowest rate since July … “Slowing Inflation & Prospects for Interest Rate Cuts Don’t Prevent Turkish Lira from Rising”