The Great Britain pound traded widely lower today after the UK manufacturing index touched the lowest level in three months. The IHS Markit/CIPS UK manufacturing PMI dropped to 52.8 in January from 54.2 in December, touching the lowest level in three months. Analysts had predicted a higher reading of 53.5. Rob Dobson, Director at IHS Markit, which compiles the survey, commented on the result: The start of 2019 saw UK manufacturers continue their … “Britain’s Sterling Falls Following Decline of Manufacturing Index”
Author: admin_mm
Swiss Franc Trades Higher Despite Underwhelming Domestic Data
The Swiss franc traded higher against most of its major peers today despite underwhelming domestic macroeconomic data. The likely reason for that was the fact that most of economic reports released in other countries were not particularly good as well. The State Secretariat for Economic affairs reported that the consumer confidence index was at -4 in January, up from -6 registered in October. The report commented on the result: Despite less favourable … “Swiss Franc Trades Higher Despite Underwhelming Domestic Data”
Yen Trades Lower After Manufacturing Index Hits 29-Month Low
The Japanese yen was soft today after the manufacturing index hit the lowest level in almost two-and-half years. The headline Nikkei Japan Manufacturing Purchasing Managers’ Index was finalized at 50.3 in January, down from 52.6 in December. While it was a better reading that analysts’ forecasts and the preliminary figure of 50.0, it was still the lowest reading in 29 months. Meanwhile, the unemployment rate edged down unexpectedly to 2.4% in December … “Yen Trades Lower After Manufacturing Index Hits 29-Month Low”
AUD Slides as China’s Caixin Manufacturing PMI Misses Expectations
The Australian dollar fell against its major peers today after the disappointing manufacturing report from China, Australia’s biggest trading partner. Macroeconomic data in Australia itself was decent, but that did not help the currency. The seasonally adjusted Caixin China Manufacturing PMI dropped to 48.3 in January from 49.7 in December. It was the lowest reading since February 2016. Analysts had predicted a much smaller decline … “AUD Slides as China’s Caixin Manufacturing PMI Misses Expectations”
Chinese Yuan Rises on Services PMI, Capped by Manufacturing Contraction
The Chinese yuan is making significant gains against its major currency rivals towards the end of the trading week. The yuan is rising on the latest services economic data, but the currencyâs rally was capped by concerning manufacturing news. In China, the Purchasing Managersâ Index (PMI) has become an important economic indicator. It is monitored closely by the market because it is a survey of businesses in a particular industry. Any reading above … “Chinese Yuan Rises on Services PMI, Capped by Manufacturing Contraction”
Euro Falls to Daily Lows Below Key Level on Mixed Eurozone Data
The euro today fell from yesterday’s highs, which were triggered by the dovish FOMC policy statement and comments, following the release of mixed eurozone data. The EUR/USD currency pair recovered slightly after the release of higher-than-expected US jobless claims data, which painted a different picture of the country’s labor market. The EUR/USD currency pair today dropped … “Euro Falls to Daily Lows Below Key Level on Mixed Eurozone Data”
Yen Gains on Fed’s Dovish Stance, Domestic Macroeconomic Data
The Japanese yen gained against its most-traded counterparts today. Some market analysts explained the rally by the better-than-expected domestic macroeconomic data, while others believed that the dovish stance of the US Federal Reserve helped the currency to gain, especially versus the US dollar. The Bank of Japan released the Summary of Opinions at the last week’s monetary policy meeting. The central bank signaled that it is ready to ease its already extremely … “Yen Gains on Fed’s Dovish Stance, Domestic Macroeconomic Data”
USD: Vulnerable To A Shift In Positioning After Dovish Fed Signals – Danske
The US Dollar lost some ground after the dovish Fed, but has the move reached its end? Here is their view, courtesy of eFXdata: Danske Research discusses its reaction to today’s FOMC January policy statement. “As widely expected, at the meeting the Fed did not raise its target range, which remains at 2.25-2.50%. More interesting was … “USD: Vulnerable To A Shift In Positioning After Dovish Fed Signals – Danske”
Australian Dollar Rallies on Back of China’s Improving Data
The Australian dollar gained against most of its major rivals today thanks to the better-than-expected macroeconomic reports released in China, Australia’s biggest trading partner. Data in Australia itself was somewhat mixed, but none of the reports released today was outright negative. China’s official manufacturing Purchasing Managers’ Index edged up from 49.4 in December to 49.5 in January, whereas analysts had expected it to fall to 49.3. Still, being … “Australian Dollar Rallies on Back of China’s Improving Data”
US Dollar Rises on Strong Jobs Report, Capped by âPatientâ Fed
The US dollar is gaining against its currency rivals midweek after new data shows the labor market entered 2019 on a strong note. But the dollarâs ascent was capped by a âpatientâ Federal Reserve, suggesting that there will not be any moves on interest rates until at least June. According to ADP, US companies added 213,000 jobs in January, beating median estimates of 174,000. The labor gains were … “US Dollar Rises on Strong Jobs Report, Capped by âPatientâ Fed”