The British pound today fell from intra-day lows against the US dollar as investors awaited the crucial vote on a second Brexit referendum. The GBP/USD currency pair yesterday rallied to multi-month highs after UK leaders voted to take a no-deal scenario off the table. The GBP/USD currency pair today dropped from an intra-day high of … “British Pound Falls Ahead of UK Article 50 Extension Vote”
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Canadian Dollar Strengthens on Rallying Energy Prices
The Canadian dollar is strengthening to a one-week high against its American counterpart midweek on rallying energy prices and slowing US inflation. The bearish domestic outlook is lingering in the background as investors fear that, despite the impressive February jobs report, the national economy is barely expanding, even with the pause on interest rate hikes. Crude prices were supported by two US Energy Information Administration (EIA) reports. The first showed … “Canadian Dollar Strengthens on Rallying Energy Prices”
New Zealand Dollar Falls During Wednesday’s Trading
The New Zealand dollar behaved similarly to its Australian counterpart today, falling intraday but trimming losses later. Market analysts explained the decline by the sharp drop of major Asian stock indices. As for reports from New Zealand itself, the only macroeconomic indicator released was the food price index. It showed growth by 0.4% in February, without adjustments for seasonal variations. Seasonally adjusted, the index increased 0.7%. The currency will likely … “New Zealand Dollar Falls During Wednesday’s Trading”
Australian Dollar Declines with Consumer Sentiment
The Australian dollar fell today, though the currency has rebounded from the day’s lows by now. The possible reason for the decline was deterioration of the consumer sentiment. The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.8% in March after rising 4.3% in February. The report said: The consumer mood deteriorated in March, sentiment falling to its lowest level since September 2017. With the index moving back below 100, pessimists again outnumber … “Australian Dollar Declines with Consumer Sentiment”
Euro Rallies on Positive European Releases and Mixed US Prints
The euro today extended its rally against the US dollar for the fourth consecutive session driven by positive eurozone releases. The EUR/USD’s rally was also boosted by the release of mixed US data and the improved market risk sentiment amid Brexit hopes. The EUR/USD currency pair today rallied from a low of 1.1276 in the … “Euro Rallies on Positive European Releases and Mixed US Prints”
Japanese Yen Weakens on Machine Tool Data, Business Sentiment
The Japanese yen is weakening against major currencies on Tuesday, driven by poor economic data and bearish business sentiment. While officials have dismissed concerns of an economic contraction, the market is signaling that a recession is nigh, which could only intensify in a cooling global economy and trade war. According to the Japan Machine Tool Buildersâ Association (JMTBA), machine tool orders plunged 29% in February compared to the same time a year … “Japanese Yen Weakens on Machine Tool Data, Business Sentiment”
Great Britain Pound Ignores Positive Data, Falls on Brexit Drama
A slew of macroeconomic reports was released today, and most of them were positive. Yet the Great Britain pound reversed its earlier gains nonetheless as the Brexit drama continued with some negative developments. According to news released overnight, Britain’s officials secured a “legally binding” changes to the Brexit agreement with the European Union, which should prevent the Irish backstop from extending indefinitely. The news increased hopes for orderly Brexit. Yet … “Great Britain Pound Ignores Positive Data, Falls on Brexit Drama”
Euro Rallies on Weak US Inflation Data Amid Brexit Headlines
The euro today rallied for the third straight session against the US dollar as investors reacted to the mixed US inflation data released today. The EUR/USD currency pair’s rally was further boosted by Brexit developments as the EU and the UK agreed to a raft of joint declarations on the Irish backstop issue. The EUR/USD … “Euro Rallies on Weak US Inflation Data Amid Brexit Headlines”
USD/SEK Falls Despite Swedish CPI Miss
Sweden’s consumer inflation missed market expectations, but that did not prevent the Swedish krona from gaining on the US dollar. The possible reason for that was the fact that US underline inflation also failed to meet expectations. Statistics Sweden reported that the Consumer Price Index rose 1.9% in February, year-on-year, the same as in January. Analysts had expected a bit faster rate of increase — 2.0%. The rise of prices was mainly … “USD/SEK Falls Despite Swedish CPI Miss”
Aussie Stands Ground in Face of Adverse Fundamentals
Macroeconomic reports released during the Tuesday’s trading session did not paint a positive picture of Australia’s economy. Yet that did not prevent the Aussie from standing ground, avoiding losses, most likely due to mild risk appetite on the Forex market. The National Australia Bank business confidence index dropped from +4 in January to +2 in February. The business conditions index retreated from +7 to +4. The report commented on the results: With … “Aussie Stands Ground in Face of Adverse Fundamentals”