The euro today fell from almost 7-week highs against the greenback triggered by weak US employment data following the release of upbeat US services PMI data. The EUR/USD currency pair rallied to the new highs driven by upbeat market sentiment and disappointing US ADP employment change report before falling to new lows. The EUR/USD currency pair rallied to a high of 1.1306 but fell shortly afterward to hit a new daily … “Euro Drops From Post-US ADP Highs on Upbeat US Services PMI”
Author: admin_mm
AUD/NZD Facing a Dilemma at the Important 1.0546 Support
The Australian dollar versus the New Zealand dollar currency pair is caught in between the bullish and bearish plans, with both parties being of equal strength right now. Long-term perspective After confirming the 1.0292 support and ending the descending trend, the price got stuck between two important areas from which — actually — both serve as support: 1.0668 and 1.0546. The latter is an important weekly support, while the first plays the role … “AUD/NZD Facing a Dilemma at the Important 1.0546 Support”
Euro Falls From 3-Week Highs, Later Recovers to Trade Flat
The euro today rallied to new 3-wek highs earlier in the session driven by improved risk sentiment and broad US dollar weakness before retreating later in the session. The EUR/USD currency pair fell from its highs as the European session progressed driven by the greenback’s resurgence and the disappointing eurozone employment and inflation data. The … “Euro Falls From 3-Week Highs, Later Recovers to Trade Flat”
Japanese Yen Weakens Despite Better Q1 GDP Amid Higher Business Spending
The Japanese yen is weakening against several major currencies on Tuesday, despite upbeat economic data and positive news that should strengthen the safe-haven currency. So far this year, the yen has made commendable gains against a basket of rivals, attracting investors fleeing from geopolitical tensions and trade strife. Domestic business spending surged in the first quarter, shows the latest Ministry of Finance (MOF) data. According to the Japanese government, … “Japanese Yen Weakens Despite Better Q1 GDP Amid Higher Business Spending”
Euro Rallies on Weak US Manufacturing Data and Inverted US Yields
The euro today rallied against the US dollar following the release of disappointing US manufacturing PMI in the American session. The EUR/USD currency pair kept up it bullish momentum from Friday as markets remained worried about the inverted US yield curves and the possibility of a Fed rate cut. The EUR/USD currency pair today rallied from … “Euro Rallies on Weak US Manufacturing Data and Inverted US Yields”
US Dollar Mixed on Weak Data, Recession Fears
The US dollar is mixed to kick off the trading week as investors comb through disappointing economic data amid fears of a global recession. As the trade strife escalates after higher US tariffs on Chinese and Mexican goods, markets are worried that this could lead to additional cooling in the sluggish global economy. US manufacturing … “US Dollar Mixed on Weak Data, Recession Fears”
Support Level of 108.00 on USD/JPY Might Give Way
The descent on the US dollar versus the Japanese yen reached the important target of 108.12, a level that represents a weekly support area. But certain factors point to the fact that, this time, the support might would not hold its ground. Long-term perspective After the confirmation of the 112.20 resistance area, on April 25, 2019, the price began a steep decent, that stopped at 108.90, throwed-back to confirm 110.27 as resistance, and continued downwards to pierce … “Support Level of 108.00 on USD/JPY Might Give Way”
US Dollar Gains vs. Riskier Currencies, Falls vs. Safer Ones During Week of Risk Aversion
Trade wars and the resulting risk aversion on markets were the main themes during the past trading week. The US dollar reacted in an expected manner, rising versus riskier currencies but underperforming against safer ones. The week actually started on a positive note as the European parliamentary elections resulted in a victory of pro-EU forces. The Great Britain pound was not thrilled, though, as Britain’s two major parties lost the elections, showing that Britons … “US Dollar Gains vs. Riskier Currencies, Falls vs. Safer Ones During Week of Risk Aversion”
Chinese Yuan Weakens As Manufacturing Activity Contracts
The Chinese yuan is weakening against major currency rivals at the end of the trading week, driven mainly by disappointing economic data, as well as the lingering trade war with the Americans. The yuan has had a rough second quarter against the US dollar, but it has mostly gained against the euro so far this year. China has had a mix of highs and lows this year â both on data and trade. According … “Chinese Yuan Weakens As Manufacturing Activity Contracts”
Euro Falls on Weak German Yields, Rallies as US 10-Year Yields Drop
The euro today fell against the US dollar during the Asian session driven by investor sentiment and the greenback’s rally amid global trade tensions. However, the EUR/USD currency pair recovered and rallied higher as the US 10-year Treasury yields fell to record lows driven by rising US bond prices as investors sought safety in them. The EUR/USD currency pair today rallied from a low of 1.1124 in the Asian … “Euro Falls on Weak German Yields, Rallies as US 10-Year Yields Drop”