The Australian dollar rallied today, boosted by better-than-expected macroeconomic data for China. Domestic data was supportive as well. Yet that did not prevent the currency from reversing its gains later as it moved below the opening level against most major peers. The Caixin China Manufacturing Purchasing Managers’ Index climbed to 49.9 in February from 48.3 in January. It was “only fractionally below the neutral 50.0 mark.” Analysts … “Aussie Retreats After Rally Caused by China’s Economic Data”
Author: admin_mm
AUD/USD may fall down under amid the RBA, GDP
AUD/USD extended its slide amid strong US data, mixed Chinese data, and ongoing trade talks. A busy week awaits traders with the rate decision and Australian GDP standing out. The technical picture is slightly bearish for the pair while experts are bearish only in the short term and bullish later on. This was the week: … “AUD/USD may fall down under amid the RBA, GDP”
EUR/USD awaits the ECB and NFP duo
EUR/USD broke above the range thanks to Powell’s dovishness and Brexit hopes. The ECB decision and the NFP stand out in a busy week. The technical picture looks bullish for the pair and experts are bullish in the medium and long terms. This was the week: Powell’s patience and Brexit hopes Fed Chair Fed testified on Capitol Hill … “EUR/USD awaits the ECB and NFP duo”
Canadian Dollar Weakens on Q4 Slowdown, Current Account Gap
The Canadian dollar tumbled against some of its major rivals to kick off the new month on Friday. The loonie fell on reports that economic growth slowed in the fourth quarter, and new data that found the nationâs current account deficit widened during the October-to-December period. The buck has had a rough start to 2019, and many analysts anticipate the pain to continue. According to Statistics Canada, the Q4 gross domestic product (GDP) advanced at an annualized … “Canadian Dollar Weakens on Q4 Slowdown, Current Account Gap”
USD/JPY rally halted and everything depends on the NFP now
USD/JPY rose on upbeat US data and a bit of optimism. The Non-Farm Payrolls report and trade talks are in the limelight. The technical picture is bullish for the pair while experts are only bullish in the short term and see falls afterward. This was the week: Upbeat US GDP, Asian tensions, steady Fed, and … “USD/JPY rally halted and everything depends on the NFP now”
Euro Drops on Mixed Eurozone Data, Rallies on Weak US Data
The euro today dropped lower against the US dollar in the late Asian session before rallying higher on upbeat German retail sales data for January. The EUR/USD later declined despite the release of mixed German unemployment data, then rallied higher into the American session. The EUR/USD currency pair today hit a low of 1.1350 in the early European session before … “Euro Drops on Mixed Eurozone Data, Rallies on Weak US Data”
NZ Dollar Weak amid Risk Aversion, Mixed Data
The New Zealand dollar fell on Thursday amid risk aversion and mixed macroeconomic reports. The ANZ Business Confidence index dropped to -30.9 in February from -24.1 in January. The number of building consents gained 17% in January after rising 5.4% in December. The overseas trade index dropped 3.0% in the December quarter from the previous three months after falling 0.3% in the September quarter. Analysts had predicted a smaller drop by 1.0%. NZD/USD dropped … “NZ Dollar Weak amid Risk Aversion, Mixed Data”
Poor Chinese Economic Data Overshadows Australian Reports, Dragging Aussie Down
The Australian dollar fell on Thursday and was one of the weakest currencies on the Forex market during the trading session. While domestic macroeconomic data was decent for the most part, poor reports from China and risk aversion on markets dragged the currency down. China’s official manufacturing Purchasing Managers’ Index fell to 49.2 in February from 49.5 in January, moving further away from the neutral 50.0 level. Economists had expected it to stay … “Poor Chinese Economic Data Overshadows Australian Reports, Dragging Aussie Down”
Krona Gains as Sweden’s Economic Growth Beats Expectations
The Swedish krona gained today after data showed that the nation’s economy expanded last quarter two times the forecast amount. Statistics Sweden reported that gross domestic product jumped 1.2% in the fourth quarter of 2018 after contracting 0.1% in the previous three months. That is compared to the consensus forecast of a 0.6% growth. It was the fastest pace of expansion since the second quarter of 2017. USD/SEK traded at 9.2383 as of 21:34 … “Krona Gains as Sweden’s Economic Growth Beats Expectations”
Negative Market Sentiment Allows Swiss Franc Ignore Economic Data
The Swiss franc gained today, getting boost from risk aversion on the Forex market. The currency gained even as domestic macroeconomic reports were extremely disappointing, demonstrating weakness of the Swiss economy. Switzerland’s State Secretariat for Economic Affairs reported that gross domestic product rose 0.2% in the fourth quarter of 2018, trailing the consensus forecast of a 0.4% increase. The increase followed the 0.3% drop in the previous quarter. The report explained that manufacturing was … “Negative Market Sentiment Allows Swiss Franc Ignore Economic Data”