The New Zealand dollar was attempting to rally today but failed, trimming its gains against some rivals and erasing them outright against others by now. Domestic macroeconomic data was positive for the currency. The seasonally adjusted BusinessNZ Performance of Manufacturing Index rose to 51.3 in June from 50.4 in May. The report commented on the result: BusinessNZ’s executive director for manufacturing Catherine Beard said that while the sector avoided further deterioration … “NZ Dollar Rallies on Improving Manufacturing, Fails to Keep Gains”
Month: July 2019
Overview of Platforms for Trading ETH
Large-cap cryptocurrencies had been huge performers during 2019 and even though Bitcoin had returned into the spotlight, Ether continues to remain on the second spot, with over $30 billion in market cap and more than $8 billion in daily trading volume on exchange platforms. The token continues to fuel the Ethereum platform, the birthplace of … “Overview of Platforms for Trading ETH”
Euro Rallies on Powellâs Testimony, Retreats on Upbeat US CPI Data
The euro today rallied higher in the Asian session as investors reacted to Jerome Powell‘s dovish comments during his testimony before Congress. The EUR/USD currency pair later fell from its daily highs in the American session following the release of upbeat US inflation data. The EUR/USD currency pair today rallied to a high of 1.1285 in the mid-European session before falling to a low of 1.1246 in the American session and was trading near these lows at the time … “Euro Rallies on Powellâs Testimony, Retreats on Upbeat US CPI Data”
CAD/JPY Tries to Stabilize Above 82.71
The Canadian dollar versus the Japanese yen currency pair managed to get even closer to the resistance line that dates back to the beginning of March 2019, and this brings even more possibilities for the bulls. Long-term perspective Since March 1, 2019, the price is in a downwards move. The support line of the descending channel was pierced, but the price found support at the 80.00 level. It bounced off this level, getting back into … “CAD/JPY Tries to Stabilize Above 82.71”
Japanese Yen Strengthens Despite Plenty of Unfavorable Data
The Japanese yen is strengthening against several currencies on Thursday, despite plenty of weak data suggesting that the worldâs third-largest economy could be cooling down. The yen might be gaining steam on two things: expectations that the central bank could follow the Federal Reserveâs lead and slash interest rates or breathe a sigh of relief … “Japanese Yen Strengthens Despite Plenty of Unfavorable Data”
British Pound Extends Gains Following Carneyâs Upbeat Speech
The Sterling pound today rallied higher against the US dollar following Mark Carney‘s speech at a press conference following the release of the UK’s financial stability report for July. The GBP/USD currency pair rallied higher driven by the greenback’s overall weakness as markets continue to price-in future rate cuts by the US Federal Reserve. The GP/USD currency pair today rallied from an … “British Pound Extends Gains Following Carneyâs Upbeat Speech”
Norwegian Krone Climbs Despite Inflation Miss
The Norwegian krone climbed today even after nation’s consumer inflation missed expectations. Statistics Norway reported that the Consumer Price Index rose 1.9% in June from a year ago versus the consensus forecast of a 2.1% increase. The core CPI rose 2.3%, the same as in the previous month, whereas the Norwegian central bank had predicted a slightly bigger increase of 2.4%. Some analysts argued, though, that the small miss should not … “Norwegian Krone Climbs Despite Inflation Miss”
Canadian Dollar Recovers After Drop Caused by BoC Policy Decision
The Canadian dollar dropped today following the monetary policy decision made by the Bank of Canada. The drop was short-lived, though, and the loonie has erased losses versus most of its major peers by now. The currency even gained on the US dollar, which weakened due to the outlook for interest rate cuts from the Federal Reserve. The BoC left its main interest rate unchanged at 1.75%, as was widely expected. Unlike the Fed and the European Central … “Canadian Dollar Recovers After Drop Caused by BoC Policy Decision”
Euro Rallies to 3-Day Highs As Powell Hints at Future Rate Cuts
The euro today rallied to new daily highs breaking out of a 3-day losing streak as markets reacted to Jerome Powell’s dovish comments during his testimony before Congress. The EUR/USD currency pair performance today was largely driven by investor sentiment and US dollar dynamics due to the empty European dockets. The EUR/USD currency pair today … “Euro Rallies to 3-Day Highs As Powell Hints at Future Rate Cuts”
Powell five punches and where next for EUR/USD
Fed Chair Powell has opened the door to rate cuts and weighed on the USD. Five critical dovish points accumulate to a bleak picture. EUR/USD has jumped from the lows and faces a new technical setup. Markets have been expecting the Federal Reserve to cut rates for several weeks – and Federal Reserve Chair Jerome Powell more than confirmed … “Powell five punches and where next for EUR/USD”