The US dollar ended the past trading week as the weakest currency on the Forex market. Prospects for an interest rate cut from the Federal Reserve was one of the main themes for talks among investors lately. But the latest developments in the trade war saga may change things. The threats of US tariffs on Mexican goods made investors question how bad the impact of a trade war between the United States and its southern neighbor on the US economy … “US Dollar Ends Week Weakest, Has Potential to Recover”
Author: admin_mm
Canadian Dollar Rallies After Good Jobs Data
The Canadian dollar rallied today after the release of domestic employment data. The currency logged especially big gains versus its US counterpart as US jobs data was far worse than the Canadian one. Statistics Canada reported that the number of employed people rose by 27,700 in May from April. That was a far bigger increase than 5,000 predicted by experts. And while it was nowhere near the huge 106,500 … “Canadian Dollar Rallies After Good Jobs Data”
Euro Falls on Weak German Data, Rallies to 10-Week High on US NFP
The euro today rallied to 10-week highs against the US dollar following the release of disappointing US non-farm payrolls report in the early American session. The EUR/USD currency pair had traded sideways for most of today’s session following the release of weak German data in the early European session before the spike higher. The EUR/USD currency pair today rallied from a session low of 1.1251 to a multi-week high of 1.1340 after the release of the non-farm payrolls report … “Euro Falls on Weak German Data, Rallies to 10-Week High on US NFP”
US Dollar Slumps on Disappointing May Jobs Report
The US dollar slumped at the end of the trading week, driven by a weaker-than-expected May jobs report and stagnant wage growth that signaled a slowing economy. Should the trend continue, then it might prompt the Federal Reserve to cut interest rates to spur economic growth, which the market is already betting will happen as … “US Dollar Slumps on Disappointing May Jobs Report”
Japanese Yen Soft, Domestic Data Doesn’t Help
The Japanese yen was largely soft today as market participants felt no need for safety provided by the currency. Domestic macroeconomic data did nothing to help the currency. Average cash earnings fell 0.1% in April, year-on-year. While not a good reading by itself, it was still a better result than a drop by 0.7% predicted by analysts and the 1.3% decline registered in March (though it itself got a positive revision from the 1.9% … “Japanese Yen Soft, Domestic Data Doesn’t Help”
Aussie Mixed After Poor Domestic Macroeconomic Data
The Australian dollar was mixed today, falling against some currencies, staying flat against others, but also managing to gain on the Swiss franc. Domestic macroeconomic reports released over the trading session were detrimental to the currency. The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index dropped to 40.4 in May (seasonally adjusted) from 42.6 in April. The figure below the neutral 50.0 levels indicates that the sector was … “Aussie Mixed After Poor Domestic Macroeconomic Data”
AUD/USD Might Prepare for a New Descent
The Australian dollar versus the US dollar is just in the right spot for the bears to begin a new descent. Long-term perspective It seems like the price is in a well defined resistance zone and in a well suited shape for a move to the south to occur. The resistance zone is etched by the trendline projected after uniting the highs of February 16, 2018, and December 3, 2018, respectively, and by the area confined to 0.7055 and 0.7013. To this, a bearish pattern adds — a bearish … “AUD/USD Might Prepare for a New Descent”
Euro Rallies to New Highs After ECB Rate Decision and TLTRO Terms
The euro today rallied to new multi-week highs when the European Central Bank announced the terms of its TLTRO III facility, which were better than expected. The EUR/USD currency pair had traded lower following the ECB rate decision but spiked higher after Mario Draghi‘s speech. The EUR/USD currency pair today rallied from a session low of 1.1200 to a high of 1.1308 after the TLTRO III … “Euro Rallies to New Highs After ECB Rate Decision and TLTRO Terms”
Canadian Dollar Rises on Crude Rebound, Boost in Labor Productivity
The Canadian dollar is strengthening on Thursday, driven by the rebound in crude oil prices and an increase in quarterly labor productivity. Manufacturing and trade data were also published, contributing to the near-term direction of the loonie. Despite the disappointing numbers as of late, Canadians are less pessimistic about the economy, especially after the US recently lifted tariffs. On Wednesday, crude slipped into a bear market as oil prices cratered to a six-month low. But prices are beginning … “Canadian Dollar Rises on Crude Rebound, Boost in Labor Productivity”
Chinese Yuan Mixed on Poor Economic Data
The Chinese yuan is mixed midweek on poor economic data. But the biggest development for the yuan is that it is nearing the 7 mark against the US dollar. The federal government has hinted that it will take action to prevent the yuan from reaching that threshold. The last time the yuan crossed 7 was in December 2016. On the data front, the Caixin Composite Purchasing Managersâ Index (PMI) came in at 51.5 … “Chinese Yuan Mixed on Poor Economic Data”