The Japanese yen is mixed against multiple major currency rivals midweek as economic data remained bearish. However, many of the numbers either improved from the previous month or beat market expectations. While it looked like a recession was imminent, the slight improvement may delay the recession a bit. According to the Ministry of Finance, the trade deficit narrowed sharply to $750 million in November, down from $6.75 billion in the same time a year … “Japanese Yen Mixed As Exports Beat Forecasts”
Author: admin_mm
Great Britain Pound Falls Despite Positive Inflation Print
The Great Britain pound fell against other major currencies today despite the slightly better-than-expected inflation print. The threat of hard Brexit remains the main detrimental factor to the sterling. Producer prices were also a negative factor, falling last month unexpectedly. Britain’s Office for National Statistics reported that the annual inflation rate of the Consumer Price Index remained at 1.5% in November, unchanged from October. Ahead of the report, market participants were … “Great Britain Pound Falls Despite Positive Inflation Print”
Euro Falls Despite Upbeat German IFO and Eurozone CPI Data
The euro today fell against the US dollar in what could only be attributed to technical factors including major resistance levels posed by the 200-day MA. The EUR/USD currency pair kept falling despite the release of upbeat German IFO survey data and inflation data from the eurozone driven by a much stronger dollar. The EUR/USD … “Euro Falls Despite Upbeat German IFO and Eurozone CPI Data”
Australian Dollar Logs Gains, Analysts Skeptical
The Australian dollar logged gains against the majority of other most-traded currencies today. Market analysts explained gains of riskier commodity currencies by the rise of European stocks due to the preliminary trade agreement between the United States and China. Experts were skeptical, though, about the longevity of the gains as the US-China trade conflict is not over yet, and there are other reasons to worry, like the threat of hard Brexit and impeachment of US President Donald … “Australian Dollar Logs Gains, Analysts Skeptical”
NZ Dollar Reverses Earlier Losses amid Risk Aversion
The New Zealand dollar gained today after falling earlier due to mild risk aversion on the Forex market. Traders were nervous due to the threat of a hard Brexit as well as the impeachment of US President Donald Trump. There is no obvious reason why the New Zealand currency reversed its losses. Macroeconomic data released over the trading week did not paint a clear picture of the New Zealand economy as there were … “NZ Dollar Reverses Earlier Losses amid Risk Aversion”
AUD/CAD Tests 0.9010 Yet Again
The Australian dollar versus the Canadian dollar currency pair looks as if it is delaying any appreciation attempts. Long-term perspective The low of 0.8835 marked the turning point for the evolution of the price, as it got out of the descending channel. But this step needs further work to be accomplished by the bulls, as exiting the descending channel is not enough in order for a healthy appreciation to be sustainable. The fact that the price was not able … “AUD/CAD Tests 0.9010 Yet Again”
US Dollar Flat Amid Higher Industrial Output, Housing Starts
The US dollar is relatively flat against most major currency rivals on Tuesday, despite some positive news for the worldâs largest economy. The latest data helped legitimize the bullsâ views that the US economy is strong and resilient, thanks to higher industrial production, housing starts, and manufacturing activity. With only two weeks left in the year, investors are bracing for the final gross domestic product (GDP) reading for the third quarter, … “US Dollar Flat Amid Higher Industrial Output, Housing Starts”
Pound Crashes as Johnsonâs Government Pushes for Hard Brexit
The Sterling pound today crashed against the US dollar amid fears that Boris Johnson‘s government was pushing for a hard Brexit despite his parliamentary majority. The GBP/USD currency pair today fell to its pre-election lows as investors sold the pair following the release of a mixed UK jobs report ahead of Friday’s Brexit bill tabling. … “Pound Crashes as Johnsonâs Government Pushes for Hard Brexit”
Australian Dollar Sinks After RBA Minutes Hint at Interest Rate Cut
The Australian dollar fell against all other of its most-traded rivals, including commodity currencies, after the minutes from the Reserve Bank of Australia made market participants believe that the central bank will cut interest rates in the near future. The RBA released minutes of its December 3 monetary policy meeting today. While Australian policymakers left interest rates unchanged at the meeting, the minutes were dovish enough for analysts to speculate … “Australian Dollar Sinks After RBA Minutes Hint at Interest Rate Cut”
AUD/JPY Reached 76.02. Where to from Here?
The Australian dollar versus the Japanese yen currency pair retraced sharply from the 76.00 psychological area. Is this a bearish sign or is it only that the bulls are booking the profits? Long-term perspective From the support of 71.09, the market is in an ascending movement that extended — for now — until the 76.02 level. The appreciation came after a relatively long period of stagnation, as the price oscillated around the 73.93 level from the end of November … “AUD/JPY Reached 76.02. Where to from Here?”