The Canadian dollar is weakening against several major currencies to start the trading week as the loonie is still reeling from bad data. The dollar faced additional pressure on tumbling energy prices and investors sounding the alarm about Canadaâs perpetual budget deficit problem. The loonie may get a bit of reprieve from a light-data calendar. According to Statistics Canada, national retail sales slumped for the third consecutive month in January by 0.3%, falling … “Canadian Dollar Weakens on Data, Energy Prices”
Author: admin_mm
UK GDP could provide a temporary relief from Brexit headlines for GBP/USD
The final read for UK Q4 GDP is expected to confirm the previous figures. A revision of the yearly growth figure and investment could trigger short-term action. Brexit remains left, right, and center for GBP/USD movements. The UK publishes its final Gross Domestic Product report for the fourth quarter of 2018 on Friday, March 29th, … “UK GDP could provide a temporary relief from Brexit headlines for GBP/USD”
Turkish Lira Bounces After Erdogan Warns Speculators
The Turkish lira rose against the US dollar, rebounding after Friday’s huge slump, today after Turkey’s President Recep Tayyip Erdogan warned investors speculating against the currency that they will be punished. The bounce was limited, though, and currently the lira is trimming its gains. Turkey’s Banking and Regulation Supervision Agency said over the weekend that they will be probing JPMorgan for advising to short the lira … “Turkish Lira Bounces After Erdogan Warns Speculators”
Euro Rises with German Ifo Business Climate Index
The euro rallied against other most-traded currencies today after the German business climate improved unexpectedly this month. The rally was nowhere near big enough to erase Friday’s big losses, though. The Ifo Business Climate Index for Germany rose from 98.7 to 99.6 in March, seasonally adjusted. Analysts had expected the index to stay unchanged. That was the first increase following six consecutive months of decline. Looking deeper … “Euro Rises with German Ifo Business Climate Index”
US Dollar Ends Week Mixed on Dovish Fed, Fears of Recession
The US dollar ended the past trading week mixed, gaining on some currencies and falling versus others. While the unexpectedly dovish Federal Reserve hurt the currency strongly, it had some support from risk aversion. The same risk-off sentiment made other safe-haven currencies, like the Japanese yen and the Swiss franc, clear winners for the week. The Fed held a monetary policy meeting this week. While the central bank left monetary … “US Dollar Ends Week Mixed on Dovish Fed, Fears of Recession”
USD/JPY: How low can it go? Many factors in play
USD/JPY dropped as the Fed went dovish but never went too far. US GDP, housing figures, and more events could rock the boat. The technical picture is bearish for the pair. Experts are bearish in the short term. This was the week: Dovish Fed, Brexit drama The Federal Reserve took another dovish twist. After pledging … “USD/JPY: How low can it go? Many factors in play”
Chinese Yuan Mixed As Market Weighs PBOCâs Overhaul to Interest Rates
The Chinese yuan is mixed at the end of the trading week as the market weighs the Peopleâs Bank of China (PBOC)âs long-postponed measure to overhaul interest rates. Investors might also be anxious over new data that found soaring debt levels and rising unemployment in the worldâs second-largest economy could threaten stimulus initiatives. Other reports … “Chinese Yuan Mixed As Market Weighs PBOCâs Overhaul to Interest Rates”
Japanese Yen Gains, Ignoring Poor Domestic Data
The Japanese yen gained against its most-traded rivals today despite worse-than-expected domestic macroeconomic data. Japan’s core Consumer Price Index rose 0.7% in February from a year ago, while analysts had expected the same 0.8% rate of growth as in January. The Nikkei Flash Japan Manufacturing PMI remained unchanged at 48.9 in March, while experts had predicted an increase to 49.2. USD/JPY dropped from 110.84 to 110.25 as of 13:26 GMT … “Japanese Yen Gains, Ignoring Poor Domestic Data”
Australian Dollar Mixed After PMI Releases
The Australian dollar was mixed, falling against some rivals but gaining on the euro. Markit released PMIs for manufacturing and services industries today, which were not particularly good. The Commonwealth Bank Flash Manufacturing PMI dropped to 52.0 in March from 52.9 in February, demonstrating a slower rate of expansion. The Commonwealth Bank Flash Services Business Activity Index rose to 49.8 from 48.7. The index remained slightly below the neutral 50.0 … “Australian Dollar Mixed After PMI Releases”
Euro Crashes on Disappointing Eurozone PMI Prints
The euro today crashed against the US dollar in the early European session following the release of disappointing PMI data from across the eurozone by IHS Markit. The EUR/USD currency pair’s crash was triggered by the release of disappointing German and eurozone PMI prints, which came in at record lows painting a bleak picture for most eurozone economies. The EUR/USD currency pair today fell … “Euro Crashes on Disappointing Eurozone PMI Prints”