EUR/USD has recovered thanks to the dollar’s weakness. Updated euro-zone GDP, the US consumer, and trade are eyed. Mid-August’s daily chart is pointing to fresh falls for the pair. “When two are fighting, the third wins” – goes the saying. The euro has benefited from the intensifying US-Sino trade spat. China has devalued its yuan … “EUR/USD enjoyed the trade wars and that may come to an end”
Month: August 2019
GBP/USD has yet to see the bottom as Boris’s Brexit weighs heavily
GBP/USD has managed to halt its decline but failed to recover amid the US-Sino trade war. Concerns about a hard Brexit and three top-tier British figures stand out this week. Mid-August’s daily chart is pointing to further losses. Brexiteers build on a robust trade agreement with America after the UK leaves the EU – and … “GBP/USD has yet to see the bottom as Boris’s Brexit weighs heavily”
Euro Rallies Amid US Dollar Sell-Off Driven by Rising Trade Tensions
The euro today rallied higher against the US dollar as investors fled the greenback and US equity markets in favour of riskier assets such as the single currency. The EUR/USD currency pair today rallied above the crucial 1.1200 level as investors piled into the currency given the US dollar’s crash in the face of rising … “Euro Rallies Amid US Dollar Sell-Off Driven by Rising Trade Tensions”
Chinese Yuan Crashes Below Crucial USD Level Amid Trump Tariffs
The Chinese yuan fell below a key level against the US dollar to kick off the trading week after President Donald Trump announced new tariffs on billions in Chinese goods. While some experts posit that it might not have any economic significance, the trend could escalate tensions between the worldâs two largest economies over trade and the exchange rate — two topics important to Washington. Last week, the White … “Chinese Yuan Crashes Below Crucial USD Level Amid Trump Tariffs”
AUD/USD may extend losses even if the RBA leaves rates unchanged
The Reserve Bank of Australia is set to leave rates unchanged in its August meeting. The RBA weighs global risks against recent upbeat figures in Australia. AUD/USD has more chances to drop than to rise in response to the event. When the US Federal Reserve cuts interest rates – others follow. However, in the Reserve … “AUD/USD may extend losses even if the RBA leaves rates unchanged”
Surprise index points to a downside surprise in the ISM Non-Manufacturing PMI
The US ISM Non-Manufacturing PMI is a critical leading indicator. FXStreet’s Surprise Index points to a downside surprise. The US dollar may lose ground on the news. Will the Federal Reserve cut interest rates in September? That is the main question currency traders are asking and the answer – as the Fed puts it – depends on the data. … “Surprise index points to a downside surprise in the ISM Non-Manufacturing PMI”
AUD/USD Declines for Twelfth Session on Range of Factors
The Australian dollar declined today, falling for the twelfth consecutive session against its US counterpart. There were plenty of reasons for the decline: unfavorable domestic macroeconomic data, poor economic reports in China, escalation of US-China trade tensions. The Australian Industry Group Australian Performance of Services Index dropped from 52.2 in June to 49.3 in July. That was the biggest drop in a year. Furthermore, being below the neutral 50.0 level, the indicator suggested … “AUD/USD Declines for Twelfth Session on Range of Factors”
US Dollar Mixed After Fed Cut, Escalation of Tensions Between US & China
It was expected that the monetary policy decision of the Federal Reserve would be the major event this week. While the Fed had indeed a big impact on markets, ultimately it was overshadowed by new developments in the US-China trade conflict. The resulting risk aversion allowed the US dollar to rise against riskier commodity currencies but drove the greenback down versus safer currencies. The Fed cut interest rates by 25 basis … “US Dollar Mixed After Fed Cut, Escalation of Tensions Between US & China”
Swiss Franc Ignores Falling Consumer Prices
The Swiss franc rallied against other most-traded currencies today despite falling consumer prices in Switzerland. Risk aversion was the reason for the currency’s strength. Switzerland’s Federal Statistical Office reported that the Consumer Price Index fell 0.5% in July from the previous month after showing no change in June. Analysts had predicted a bit smaller decrease of 0.4%. Escalating trade tensions between the United States and China bolstered safer … “Swiss Franc Ignores Falling Consumer Prices”
Pound Falls On By-Election Results, Rallies Despite Upbeat NFP Report
The Sterling pound today fell to its daily lows as investors reacted to the results of a by-election where the ruling Conservative Party lost a crucial seat. The GBP/USD currency pair later rallied higher after the release of the upbeat US non-farm payrolls data in the early American session. The GBP/USD currency pair today fell to a low of 1.2090 in the Asian session before rallying higher back to its opening high of 1.2145 and was near these levels … “Pound Falls On By-Election Results, Rallies Despite Upbeat NFP Report”