The Chinese yuan is gaining on some of its major currency rivals to finish 2019, but the currency will still end the year lower. The yuan suffered some steep losses throughout the year, though it has rebounded in recent months because the trade dispute with the US is subsiding and slightly better economic data. The yuanâs performance in 2020 will be closely watched by observers as it might impact American negotiations … “Chinese Yuan Finishes 2019 Stronger, Still Records Annual Loss”
Month: December 2019
Sterling Pound Rallies to 2-Week Highs on New Yearâs Eve
The Sterling pound today rallied to 2-week highs against the US dollar on the last trading day of 2019 as investors bid up the pound and sold the greenback. The GBP/USD currency pair rallied higher despite threats from the European Union that the December 2020 deadline is inadequate to complete negotiations with the UK. The GBP/USD currency pair today rallied from a low of 1.3105 in the … “Sterling Pound Rallies to 2-Week Highs on New Yearâs Eve”
AUD/NZD Postponing Its Advancement to 1.0530
The Australian dollar versus the New Zealand dollar currency pair is having a hard time in its efforts to conquer higher prices. Long-term perspective The depreciation that started from 1.0865, after the price falsely pierced 1.0837, reached the weekly support of 1.0361. On December 11, the bulls pulled off a strong retracement that extended midway of the path from 1.0361 to 1.0530. But very soon, the bears managed to invalidate that appreciation … “AUD/NZD Postponing Its Advancement to 1.0530”
US Dollar Slides Despite Bullish Data in Final Stretch of 2019
The US dollar is slipping against multiple publicly-traded currency rivals to kick off the holiday-shortened trading week and wind down 2019. The buck, which has pared most of its gains this year, failed to take advantage of the myriad of bullish economic data on Monday, creating a cause for concern that the dollar will start 2020 weaker. According to the US Census Bureau, the goods trade deficit narrowed in November for the third consecutive month, … “US Dollar Slides Despite Bullish Data in Final Stretch of 2019”
Euro Rallies to 5-Month Highs on US-China Trade Headlines
The euro today rallied against the US dollar extending Friday’s gains as the greenback struggled to keep up with its global peers given the elevated market risk appetite. The EUR/USD currency pair rallied to new multi-month highs setting the single currency on track to finish the year strongly boosted by the positive US-China trade headlines. The EUR/USD currency pair today rallied to a 5-month … “Euro Rallies to 5-Month Highs on US-China Trade Headlines”
AUD/USD Could Extend Until 0.7055
After such a strong appreciation, the price should correct as a consequence of profit booking. Which are the possibilities that follow? Long-term perspective After it bottomed at the 0.6700 area, the price began an appreciation phase that let very little room for the bears to prove themselves. As pointed out by the price labels, the market printed more and more higher lows and higher highs, respectively, a clear characteristic of bullish dominance. The bears had one last … “AUD/USD Could Extend Until 0.7055”
EUR/USD: Difficult To Edge Firmly Below 1.10; Looking For A Gradual Rise Through 1.15 In 2020 – Danske
EUR/USD has had a stubborn 2019. Where will it go in 2020? Here is their view, courtesy of eFXdata: Danske Research discusses its EUR/USD outlook and adopts a constructive bias over the coming year. “Risks are broadly skewed on the downside for USD, as risk sentiment stays supported by a lenient Fed amid a brightening cyclical … “EUR/USD: Difficult To Edge Firmly Below 1.10; Looking For A Gradual Rise Through 1.15 In 2020 – Danske”
Chinese Yuan Mixed As Industrial Profits Rebound
The Chinese yuan is mixed at the end of the trading week as final data of 2019 and outlook for 2020 drive the currencyâs trading performance. With industrial profits rebounding in November, analysts are holding out hope that next year could be an improvement now that there is some certainty on the trade file. According to the National Bureau of Statistics (NBS), the largest industrial companies saw their profits tumble by 2.1% in the first 11 … “Chinese Yuan Mixed As Industrial Profits Rebound”
Japanese Yen Stuck Trading Sideways Against the Weak US Dollar
The Japanese yen today traded in a tight range against the US dollar despite the greenback’s overall weakness against other major currencies. The USD/JPY traded sideways even as the Nikkei 225 equity index closed lower for the day despite the risk-on market sentiment. The USD/JPY currency pair today traded between a high of 109.55 and a low of … “Japanese Yen Stuck Trading Sideways Against the Weak US Dollar”
Pound Hits 7-Day High on Santa Claus Rally and USD Weakness
The Sterling pound today rallied against the US dollar as the Santa Claus rally kicked into full effect in the absence of any significant fundamental releases. The GBP/USD rallied to new 7-day highs as the greenback fell against most of its peers as investor risk appetite soared. The GBP/USD currency pair today rallied from an Asian session low of 1.2968 to a high of … “Pound Hits 7-Day High on Santa Claus Rally and USD Weakness”