The euro was weak across the board today. Market analysts explained the currency’s poor performance by worse-than-expected industrial production in the eurozone. Eurozone industrial production contracted 0.9% in December from the previous month after falling 1.7% in November. Analysts had expected a smaller decline by 0.4%. Industrial production in the whole European Union fell by 0.5%. EUR/USD tumbled from 1.1324 to 1.1266 as of 21:12 GMT today. EUR/JPY was almost flat at 125.06, … “Euro Suffers from Falling Industrial Production”
Author: admin_mm
Chinese Yuan Surges Amid Trade Deal Optimism, Ignores Bearish Reports
The Chinese yuan is surging midweek as investors are optimistic about Washington and Beijing nearing a new trade agreement that would end this year-long standoff between the worldâs two largest economies. Although President Donald Trump and President Xi Jinping will not meet prior to the March 1 deadline, both sides are positive that crucial developments can be made in the final days of the trade truce. Before … “Chinese Yuan Surges Amid Trade Deal Optimism, Ignores Bearish Reports”
Aussie Gains on Risk Appetite, Recovering Consumer Sentiment
The Australian dollar gained today amid risk appetite caused by hopes for a successful outcome of trade negotiations between China and the United States. Positive domestic macroeconomic data also helped the Australian currency. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 4.3% in February from the previous month. The improvement followed the sharp drop of the index by 4.7% in January. The report suggested that the recent change of the central bank’s monetary policy stance played part … “Aussie Gains on Risk Appetite, Recovering Consumer Sentiment”
Pound Falls on Weak CPI Data, Spikes Higher on Brexit Rumors
The British pound today traded in an erratic manner against the US dollar as it rallied higher in the Asian session, before falling, and then spiking higher on Brexit rumors. The GBP/USD currency pair was not done with its sudden moves as it quickly retraced all its gains and headed lower in the American session … “Pound Falls on Weak CPI Data, Spikes Higher on Brexit Rumors”
NZ Dollar Soars After RBNZ Releases Neutral Statement
The New Zealand dollar surged today after the Reserve Bank of New Zealand surprised the market, releasing a neutral monetary policy statement, whereas market participants had expected more dovish bias. The RBNZ left its main interest rate unchanged at 1.75% today, as was widely expected. The central bank said in the accompanying statement: We expect to keep the OCR at this level through 2019 and 2020. The bank also stated: We … “NZ Dollar Soars After RBNZ Releases Neutral Statement”
Bitcoin, Ethereum, Ripple face clear caps that once broken, may set them loose
Cryptocurrencies continue consolidating as the next moves are awaited. All three have clear caps they must cross in order to move higher. Here are the levels to watch according to the Confluence Detector, our proprietary tool. Not much has changed in the world of cryptocurrencies in the past 24 hours. Prices have been stable and … “Bitcoin, Ethereum, Ripple face clear caps that once broken, may set them loose”
Japanese Yen Weakens to Lowest Level in 2019 on Poor Data
The Japanese yen has slipped to its lowest level against its major currency counterparts in 2019 on Tuesday. Because of soft economic data and the central bank maintaining an accommodative monetary policy, analysts feel that Tokyoâs economic growth could be threatened in 2019, sending the yen lower. The latest reports suggest that Japanese manufacturing and services reports contracted. Tertiary Industry Activity Index, a measurement of the value of services bought by companies, … “Japanese Yen Weakens to Lowest Level in 2019 on Poor Data”
Euro Recovers From Yearly Lows on Trade Optimism and US Politics
The euro today dropped to new 2019 lows against the US dollar in the early European session as the selling pressure on the single currency mounted. The pair reversed its losses later in the session as investor sentiment shifted and the US dollar gave up some of its earlier gains. The EUR/USD currency pair today … “Euro Recovers From Yearly Lows on Trade Optimism and US Politics”
Crypto confluences point to losses, at least in the short term
is After bottoming out, cryptocurrencies consolidated in range. They now seem to face significant resistance and may fall before resuming the rises. Here are the levels to watch according to the Confluence Detector, our proprietary tool. Ethereum led the rise of cryptocurrencies from the lows, Ripple enjoyed it as well, and Bitcoin also moved a … “Crypto confluences point to losses, at least in the short term”
Elliott wave Analysis: USDMXN and CADJPY Update
USDMXN is still trading in a correction of wave 4 despite that bigger wave »c« recovery. The most important thing is that we have a triangle in wave »b« and we know that triangles cannot occur in wave 2, so it must be a correction! Anyhow, we remain bearish here for wave 5 towards new … “Elliott wave Analysis: USDMXN and CADJPY Update”