Venezuela is gripped in a deep political crisis that followed an economic one. The nation is a large oil exporter with the US importing a significant chunk of its oil. Here are three scenarios for the stand-off and the reaction in oil markets. Venezuela has the world’s largest proven oilreserves but mismanagement by the regime led … “Oil: 3 ways Venezuela can impact prices”
Author: admin_mm
Pound Soft After Services PMI Falls Unexpectedly
The Great Britain pound was soft today after Britain’s services sector demonstrated surprisingly poor performance, expanding at the slowest rate in two-and-a-half years. Positive retail sales data was not able to offset the impact of the negative report. The seasonally adjusted IHS Markit/CIPS UK Services PMI dropped to 50.1 in January, down from 51.2 in December, while experts had predicted it to stay about unchanged. It was the lowest … “Pound Soft After Services PMI Falls Unexpectedly”
Aussie Rallies as RBA Statement Doesn’t Show Dovish Stance
The Australian dollar rallied today after the monetary policy statement of the Reserve Bank of Australia. While analysts had expected the central bank to demonstrate extremely dovish stance, the actual statement was considered to be either neutral or even slightly hawkish. The RBA maintained its main interest rate at 1.5%, as was widely expected. The central bank cut its economic forecasts. Now, the bank expects growth of 3% in 2019, down from … “Aussie Rallies as RBA Statement Doesn’t Show Dovish Stance”
Japanese Yen Trades Slightly Lower amid Mild Risk Appetite
The Japanese yen was flat-to-lower today as mild risk appetite on the Forex market made safe currencies less appealing to traders. The losses were limited, though, and the currency has trimmed most of them by now. As for today’s macroeconomic data in Japan, the Bank of Japan reported that monetary base expanded by 4.7% in January from a year ago. That was in line with market expectations of a 4.6% increase and the previous month’s growth of 4.8%. Being … “Japanese Yen Trades Slightly Lower amid Mild Risk Appetite”
Canadian Dollar Weakens on Sliding Crude Prices, Sluggish Growth
The Canadian dollar is losing ground against its major currency rivals to kick off the trading week. The loonie is falling on sliding crude oil prices, bearish economic data, and a dovish Bank of Canada (BOC) that is unlikely to raise interest rates for another few months. Oil retreated from last weekâs intraday high on Monday as concerns pertaining to the US and Chinese economies and sanctions slapped on Venezuela dominated the international … “Canadian Dollar Weakens on Sliding Crude Prices, Sluggish Growth”
Euro Mixed After Poor Macroeconomic Reports
The euro was trading mixed today, falling against some majors, including the US dollar and the Great Britain pound, but rising versus safe haven currencies. Macroeconomic data in the eurozone was mostly poor and put downward pressure on the currency. The Sentix Investor Confidence dropped from -1.5 in January to -3.7 in February, while analysts had expected an improvement to -1.1. The report commented about the result: Even in February, the bad news for the economy … “Euro Mixed After Poor Macroeconomic Reports”
3 reasons why the Indian rupee is falling
The Indian rupee is ceding ground to the US Dollar. There are three primary drivers behind the move. The technical picture is bullish for USD/INR. The Indian rupee is falling against the against the US Dollar. At the time of writing, USD/INR is around 71.75 after hitting a daily high of 71.90. The pair is … “3 reasons why the Indian rupee is falling”
AUD/USD could fall if RBA acknowledges worsening conditions
The RBA reconvenes after the summer break, and the world has changed since early December. No change is likely, but a more dovish tone is undoubtedly possible. The recent Fed-fueled rally means a negative tone is not priced in. The Reserve Bank of Australia announces its decision on Tuesday, February 5th, at 3:30 GMT. The … “AUD/USD could fall if RBA acknowledges worsening conditions”
Pound Declines on Weak Construction PMI and Brexit Concerns
The Sterling pound declined today as markets remained cautious amid Brexit concerns as EU leaders continue to reject the UK’s alternative Brexit Plan B. The pound was dealt a further blow after the UK construction PMI missed expectations indicating that the industry grew much slower than expected. The GBP/USD currency pair today dropped from a … “Pound Declines on Weak Construction PMI and Brexit Concerns”
NZ Dollar Mixed amid Quiet Lunar New Year Trading
The New Zealand dollar was mixed on Monday, falling against such major currencies like the US dollar and the euro but rising versus safe currencies like the Japanese yen and the Swiss franc. Unlike its Australian counterpart, the New Zealand dollar got support from positive domestic macroeconomic data as the Statistics New Zealand reported that the seasonally adjusted number of building permits rose 5.1% in December from the previous month, … “NZ Dollar Mixed amid Quiet Lunar New Year Trading”