While most riskier commodity-geared currencies were rallying today, the Canadian dollar declined. With absence of other apparent reasons, market analysts pointed at the drop of crude oil prices as the most likely reason for the currency’s decline. Crude oil fell about 3% on Monday. Market analysts speculated that the reason for the huge slump was the tweet from US President Donald Trump, which urged the Organization of Petroleum Exporting Countries to prevent … “Canadian Dollar Follows Crude Oil in Decline”
Author: admin_mm
Pound Rallies on Hopes That Brexit Will Be Delayed, Later Drops
The British pound today rallied slightly against the US dollar amid investor hopes that the UK government would postpone Brexit to allow time for further negotiations. The pound later fell in the early American session as news headlines indicated that the British Prime Minister Theresa May was keen on leaving the EU within the current … “Pound Rallies on Hopes That Brexit Will Be Delayed, Later Drops”
US Dollar Rivals Benefit From Bearish Data
The US dollar is weakening against a basket of currencies to start the trading week. The dollarâs main rivals are benefiting from bearish economic data, as well as renewed risk appetite on reports of âsubstantial progressâ in US-China trade negotiations. In the background is a survey of economist that finds many expect a recession soon. According to the US Census Bureau, domestic wholesale inventories rose 1.1% in December. The ratio of inventories to sales climbed to a 30-month high … “US Dollar Rivals Benefit From Bearish Data”
Impact of the trade war on the financial markets
The trade war and U.S. politics offer multiple trading opportunities, but there are 3 or 4 instruments that will directly concern investors who trade. The most directly affected instrument is probably stocks. Stocks tend to move down upon news that trade tariffs are to be introduced or that talks are not going well. Trade tariffs … “Impact of the trade war on the financial markets”
NZ Dollar Gains on Risk Appetite, Robust Retail Sales
The New Zealand dollar gained today, joining its Australian counterpart, boosted by positive fundamentals, both domestic and overseas. On top of positive developments in the Sino-US trading negotiations, which were boosting other riskier currencies, the kiwi had positive domestic macroeconomic as additional supporting factor. Statistics New Zealand reported that retail sales increased 1.7% in the December quarter from the previous three months after rising 0.3% in the September quarter. … “NZ Dollar Gains on Risk Appetite, Robust Retail Sales”
Australian Dollar Gains as USA Delays Tariffs on China
The Australian dollar got a lift today from positive developments in the Sino-US trade talks. US President Donald Trump announced a delay in implementations of additional tariffs on Chinese imports, which were scheduled to kick off starting March 1, citing “substantial progress” in the trade talks between the United States and China. Trump also confirmed that he is planning to meet with Chinese President Xi Jinping in March. The news lifted … “Australian Dollar Gains as USA Delays Tariffs on China”
Aussie Ends Week Among Weakest Currencies Despite Risk Appetite
The Australian dollar ended the week as one of the weakest currencies on the Forex market despite mild risk appetite, caused by hopes for a positive outcome in the Sino-US trade negotiations that were extended through the weekend. Among negative factors weighing on the Aussie was the prediction by Westpac Banking Corporation of two interest rate cuts by the Reserve Bank of Australia this year. News that China banned Australian coal imports from Dalian, one of the biggest … “Aussie Ends Week Among Weakest Currencies Despite Risk Appetite”
Canadian Dollar Surges Despite Disappointing Retail Sales
The Canadian dollar is strengthening against a basket of currencies at the end of the trading week, despite disappointing retail sales data. The loonieâs performance also comes as the central bank warned that the path of interest rates remains âuncertain,â leaving markets guessing when the next rate hike will take place in 2019 â if at all. According to Statistics Canada, December retail sales fell 0.1% to $50.4 billion, beating median estimates … “Canadian Dollar Surges Despite Disappointing Retail Sales”
EUR/USD Pair Extends Range-Bound Action for Third Straight Session
The EUR/USD currency pair today extended its range-bound trading pattern for the third consecutive session as the pair reacted to mixed German data and news headlines. The currency pair’s performance was influenced by headlines regarding the US-China trade negotiations and Brexit developments, but investors remained undecided. The EUR/USD currency pair today traded in a wide … “EUR/USD Pair Extends Range-Bound Action for Third Straight Session”
USD/JPY ready to break out of range, waiting for Powell and US GDP
USD/JPY traded in a range in a week dominated by US Dollar weakness. Fed Chair Powell’s testimony and the long-awaited US GDP report stand out. The technical picture is mixed for the pair. This was the week: Trade progress, Fed dovishness USD/JPY traded in range amid a mix of events that kept things balanced. Trade: Talks between … “USD/JPY ready to break out of range, waiting for Powell and US GDP”