The euro today rallied almost to 3-week highs against the US dollar in move that is likely to see it post its first weekly gain following three consecutive weekly drops. The EUR/USD currency pair today rallied higher driven by a shift in investor risk appetite, which saw markets bid up riskier assets such as stocks, … “Euro Trades Near 3-Week Highs Driven by Risk Sentiment, Later Drops”
Author: admin_mm
Japanese Yen Weakens As Tokyo Braces for US Trade Fight
The Japanese yen is weakening against several major currency rivals at the end of the trading week. With a potential US-Japan trade war on the horizon, investors are frightened that anticipations of shrinking exports could lead to an economic contraction for the worldâs third-largest economy. Can Tokyo turn things around before trade talks with Washington … “Japanese Yen Weakens As Tokyo Braces for US Trade Fight”
NZ Dollar Mixed, Economic Data Gives No Direction
The New Zealand dollar was mixed today, rising against some rivals, falling versus others, and staying flat against some others. Macroeconomic data, both domestic and from abroad, was mixed as well, giving the currency no reason to go in a specific direction. China’s trade balance demonstrated a surplus of $32.6 billion in March, up from $4.1 billion in February and beating the average forecast of $7.7 billion by a wide margin. But … “NZ Dollar Mixed, Economic Data Gives No Direction”
GBP/CAD Indecisive
The Great Britain pound vs. the Canadian dollar seems to have stalled at an important resistance, but does not show signs of willingness to give up without another try. Long-term perspective The flat that began around 1.6620 continued as a heavy ascending move that met a first resistance at 1.7499 and a second one at 1.7811. What these two levels have in common is that they made the price peak twice around … “GBP/CAD Indecisive”
US Dollar Mixed on Lower Jobless Benefits, Fed Uncertainty
The US dollar is trading mixed against some of its major currency rivals on Thursday as an influx of data is weighing on the greenback. With uncertainty surrounding the Federal Reserve, the market is unclear how to trade the buck in the short- to medium-term. But investors are snapping up billions in long-term bonds, signaling a bullish sentiment in the US economy. According to the Bureau of Labor Statistics, the number of Americans filing for jobless benefits to 196,000 in the week ending … “US Dollar Mixed on Lower Jobless Benefits, Fed Uncertainty”
Euro Falls Against US Dollar on Low US Jobless Claims and Strong PPI
The euro today fell against the US dollar breaking out of a consolidative range that was in place from the start of today’s session driven by shifting investor sentiment. The EUR/USD currency pair headed lower in the mid-European session as markets reacted to a US dollar rebound as tracked by the US Dollar Index. The EUR/USD currency pair today fell from a session high of 1.1287 to a low of 1.1254 before retracing some of its losses at the time of writing. … “Euro Falls Against US Dollar on Low US Jobless Claims and Strong PPI”
Cryptos must consolidate above these levels to move forward
Cryptocurrencies have suffered a blow with Bitcoin dropping temporarily below $500. All top three digital coins need to cling onto support lines in order to consolidate and resume the rally. Here are the levels to watch according to the Confluence Detector. After finding at least seven reasons for the surge, cryptocurrencies consolidated on higher ground and … “Cryptos must consolidate above these levels to move forward”
Aussie Drops Despite Positive Inflation Data in China
The Australian dollar was soft today despite positive macroeconomic data in China, Australia’s biggest trading partner. Domestic data was not particularly good, but was not that bad either, certainly not enough to hurt the currency significantly. Today’s drop was not nearly enough to erase yesterday’s big rally, though, and the Aussie remains one of the strongest currencies for the week. China’s consumer price inflation accelerated to 2.3% … “Aussie Drops Despite Positive Inflation Data in China”
Pound Rallies on Domestic Data, Brexit Optimism
The Great Britain pound preserved at the beginning of the Thursday’s trading session gains it has achieved on Wednesday. The currency’s good performance was a result of largely positive domestic macroeconomic data and the hopeful outlook for the Brexit. The UK Office for National Statistics reported that gross domestic product rose 0.2% in February from the previous month. While it was a slower rate of growth than 0.5% registered in January, it was in line with … “Pound Rallies on Domestic Data, Brexit Optimism”
US Dollar Ends Wednesday Soft Despite CPI, FOMC Minutes
The US dollar ended Wednesday’s trading week in red basically across the board. That is surprising considering that domestic fundamentals look positive for the US currency. The US Bureau of Labor Statistics reported that the Consumer Price index rose 0.4% in March, exceeding the median forecast of 0.3%. But the core CPI was up by just 0.1%, the same as in February and missing the average projection of a 0.2% increase. The minutes of the Federal Open Market … “US Dollar Ends Wednesday Soft Despite CPI, FOMC Minutes”