The Swiss franc fell against most of its major rivals today. Poor domestic macroeconomic data has likely played some part in the decline. The KOF Economic Barometer fell to 95.0 in January from 96.4 in December. Analysts had expected an increase to 96.8. The report commented on the result: The downward tendency that emerged at the end of last year continues. KOF added further: This renewed decline is especially attributable to negative developments … “Swiss Franc Drops, Dragged Down by Poor Macroeconomic Data”
Author: admin_mm
Australian Dollar Rallies After CPI Beats Expectations
The Australian dollar rallied today against most-traded peers thanks to the inflation print that came out slightly above expectations. The Australian Bureau of Statistics reported that the Consumer Price Index rose 0.5% in the December quarter of 2018 from the previous three months. Analysts had expected the same 0.4% rate of growth as in the September quarter. Year-on-year, the CPI rose 1.8%. The trimmed mean CPI rose 0.4% last quarter — in line with … “Australian Dollar Rallies After CPI Beats Expectations”
Euro Range Bound on Mixed Eurozone Data, Drops on US Jobs Data
The euro today traded in a tight range amid subdued market activity as investors waited patiently for the FOMC rate decision scheduled for later today. The release of mixed data from across the eurozone had minimal impact on the EUR/USD currency pair, which continued to trade above the crucial 1.1400 level. The EUR/USD currency pair … “Euro Range Bound on Mixed Eurozone Data, Drops on US Jobs Data”
Sterling Rallies Despite Brexit Uncertainty With Looming Deadline
The Sterling pound today rallied slightly against the US dollar after the UK Parliament approved Sir Brady’s amendment allowing the Prime Minister to renegotiate the Irish backstop plan. The pound’s gains were limited by the fact that the European Union has categorically stated that it will not reopen negotiations regarding the current Brexit deal as … “Sterling Rallies Despite Brexit Uncertainty With Looming Deadline”
Japanese Yen Unfazed by Fake News Scandal, Recession Risks
The Japanese yen is modestly strengthening against a basket of currencies on Tuesday, despite a fake news data scandal hitting Tokyo and economists increasing the odds of a recession hitting the worldâs third-largest economy. Japanâs economy is making history as it is experiencing the longest expansion phase since the end of the Second World War. Because of admirable domestic demand and an improving labor market, Tokyo is set to record its 74th straight month … “Japanese Yen Unfazed by Fake News Scandal, Recession Risks”
Pound Trades Within Tight Range Ahead of Key Brexit Plan B Debate
The British pound today traded in a consolidative range as markets await the Parliamentary vote on Theresa May‘s Brexit Plan B scheduled for later today. Today’s debate is quite important, but it is not a meaningful vote like the 15 January vote, which handed the UK government a historic defeat. The GBP/USD currency pair today … “Pound Trades Within Tight Range Ahead of Key Brexit Plan B Debate”
Why the Fed is all about the balance sheet and three scenarios for the outcome
The Federal Reserve is expected to leave its policy unchanged in the first meeting of 2019. The balance sheet reduction program is the center of attention. The US Dollar is already suffering, but explicit talk about a change is not priced in. The Federal Reserve announces its first decision of the year on Wednesday, January … “Why the Fed is all about the balance sheet and three scenarios for the outcome”
Canadian Dollar Weakens on Oil Crash, Poor Data
The Canadian dollar is kicking off the trading week falling against its major currency rivals. The loonie is getting battered on cratering crude oil prices, as well as poor economic data that suggests the country could be heading for a significant slowdown. Will the dollar continue to slide, or will it pull off an upset and surprise the experts? On Monday, March West Texas Intermediate (WTI) crude futures plummeted $1.68, or 3.13%, … “Canadian Dollar Weakens on Oil Crash, Poor Data”
Japanese Yen Logs Small Gains During Quiet Trading
The Japanese yen rose a bit during Monday’s quiet trading. With no major events or macroeconomic releases, markets were rather directionless today, though the rest of the week promises to be much more eventful. The Bank of Japan released minutes of its December monetary policy meeting. The notes did not provide many new insights. About the outlook for the economy, the minutes said: As for the outlook for the economy, members concurred that it was … “Japanese Yen Logs Small Gains During Quiet Trading”
Pound Starts Week on Soft Footing
The Great Britain pound was among the weakest currencies on the Forex market at the start of the trading week as traders were consolidating positions ahead of the crucial Brexit vote. After British lawmakers rejected the Brexit deal proposed by UK Prime Minister Theresa May and approved by the European Union, the threat of the no-deal Brexit became very serious. Tomorrow, the government and the parliament will yet again attempt to reach a compromise and avoid the hard Brexit. Meanwhile, the Sun … “Pound Starts Week on Soft Footing”