Swiss Franc Drops, Dragged Down by Poor Macroeconomic Data

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”

Read More

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”

Read More

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”

Read More

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”

Read More

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 world’s third-largest economy. Japan’s 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”

Read More

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”

Read More

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”

Read More

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”

Read More

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”

Read More

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”

Read More