The Canadian dollar was mixed today, rising against some rivals while falling versus others. Factors that were driving the currency today were the outlook for the nation’s economic growth and movement of crude oil prices. Statistics Canada will release a report on gross domestic product on Friday. Ahead of the release, analysts predicted that it will show a slowdown of economic growth to 0.2% last quarter from 0.5% in the previous three … “Canadian Dollar Mixed on Economic Outlook, Crude Oil Prices”
Author: admin_mm
Chinese Yuan Slips Despite Higher Small Business Lending, Upbeat Bankers
The Chinese yuan is falling against several major currency rivals to start the trading week, despite positive economic data that should lift the yuan. The central bank confirmed that small business lending surged in May, leading bankers to be optimistic on the worldâs second-largest economy as the second quarter comes to an end. With the US-China trade war still lingering in the background, can Beijing finally turn a corner? According to the Peopleâs Bank … “Chinese Yuan Slips Despite Higher Small Business Lending, Upbeat Bankers”
Euro Firm in Face of Worsening German Business Climate
The German business climate worsened this month. But while the euro fell versus commodity currencies, it surprisingly managed to log substantial gains versus majors. The German Ifo Business Climate declined from 97.9 in May to 97.4 in June, in line with market expectations. It was the lowest reading since November 2014. The report made following comments about the result: Companies have grown increasingly pessimistic about the coming … “Euro Firm in Face of Worsening German Business Climate”
Aussie Gains on Lowe’s Comments, Stabilizing Market Sentiment
The Australian dollar gained against its most-traded rivals today after the central bank’s chief questioned the efficiency of further monetary policy easing. The currency also got support from the stabilizing market sentiment. Philip Lowe, Governor of the Reserve Bank of Australia, was speaking today. During the speech, he questioned the effectiveness of easing monetary policy further: RBA Governor Lowe: It Is Legitimate To Ask How Effective Monetary … “Aussie Gains on Lowe’s Comments, Stabilizing Market Sentiment”
CAD/JPY Tries to Conquer 81.38
The Canadian dollar versus the Japanese yen currency pair gives the signs of a change in direction from a very important area. Long-term perspective Since the high of 85.23, the price is in a downwards movement, but there are two amendments with this apparent bearish profile. The first is that the channel is not steep enough to be classified as a convinced bearish one. A counterargument for this could be that the price managed to pierce … “CAD/JPY Tries to Conquer 81.38”
US Dollar Ends Week Weakest Courtesy of Dovish Fed
The US dollar ended the past trading week as the weakest currency on the Forex market. The Federal Reserve monetary policy meeting was the major event affecting the greenback during the week, though there were plenty other events that were affecting other currencies. While the Fed did not cut interest rates at this week’s meeting and was rather optimistic about the US economy, it signaled that one or even two … “US Dollar Ends Week Weakest Courtesy of Dovish Fed”
Canadian Dollar Reacts Negatively to Retail Sales Report
The Canadian dollar declined against its most-traded rivals, being the weakest major currency today. One of the reasons for the currency’s awful performance was unexpectedly slow growth of Canadian retail sales. Statistics Canada reported that retail sales rose just 0.1% in April from March. Core retail sales (those that exclude volatile components, namely motor vehicle and parts dealers) also rose 0.1%. Ahead of the report, analysts … “Canadian Dollar Reacts Negatively to Retail Sales Report”
NZ Dollar Ends Session & Week Mixed, Waits for RBNZ
The New Zealand dollar was heading to end the Friday’s trading session mixed. The same goes for the whole week as the currency gained on some rivals but fell versus others. The next week should be very important for the kiwi and can help establish a more clear trend. Factors that were affecting markets as a whole were somewhat conflicting, which can explain why the New Zealand currency could not demonstrate a clear … “NZ Dollar Ends Session & Week Mixed, Waits for RBNZ”
Swiss Franc Strong as Conflict Between USA & Iran Heats Up
The Swiss franc was generally strong today as tensions between the United States and Iran continued to escalate. Yesterday, Iran shot down a US drone. The USA were planning to attack in response today, but US President Donald Trump called off the attack 10 minutes before the start. He twitted: ….On Monday they shot down an unmanned drone flying in International Waters. We were … “Swiss Franc Strong as Conflict Between USA & Iran Heats Up”
Pound Falls on Political Uncertainty and Weak UK Data, Later Rallies
The British pound today fell to its daily lows in the mid-London session as investors reacted to the release of the weak UK public sector finances data. The GBP/USD currency pair was also weighed down by the political uncertainty in the UK as investors deal with the prospect of a hard Brexit. The GBP/USD currency pair today fell from an Asian session high of 1.2725 to a low of 1.2642 in the mid-London … “Pound Falls on Political Uncertainty and Weak UK Data, Later Rallies”