The New Zealand dollar climbed by the end of the Tuesday’s trading session and continued to rally during the early Wednesday’s session. The rally was a result of the better-than-expected inflation data. Before the report, the currency was moving either sideways or down versus its major peers. Statistics New Zealand reported that the Consumer Price Index rose 0.1% in the December quarter of 2018 from the previous three months. Analysts had predicted ahead of the report no … “NZ Dollar Rallies After Consumer Inflation Surprises Positively”
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Canadian Dollar Falls on Poor Macroeconomic Data, Market Sentiment
The Canadian dollar fell against its most-traded peers today after the release of negative macroeconomic data and as the market sentiment soured on worsening global growth projections. Statistics Canada reported that manufacturing sales fell 1.4% in November, demonstrating the second consecutive monthly drop. Analysts had predicted a smaller decline by 0.8%. The data was not entirely bad, though, as the main reason for the decline was the drop in sales of petroleum and coal products. … “Canadian Dollar Falls on Poor Macroeconomic Data, Market Sentiment”
US Dollar Firms to Two-Week High on Strong Data, Thawed US-China Tensions
The US dollar is firming to its best level in two weeks on better-than-expected industrial figures and improved US-China trade relations. Greenback investors are shrugging off warnings of sluggish global economic growth and weak Chinese economic data. Heading into 2019, traders anticipated a bearish trend, but the currency has performed modestly well against a basket of currencies. According to the Federal Reserve, US manufacturing output climbed 1.1% in December, … “US Dollar Firms to Two-Week High on Strong Data, Thawed US-China Tensions”
Improving German Economic Sentiment Doesn’t Prevent Euro from Falling
The euro fell against most of its major rivals today even after the German economic sentiment improved unexpectedly. The losses were small for the most part, though. The ZEW Indicator of Economic Sentiment for Germany improved from -17.5 to -15.0 in January. ZEW President Professor Achim Wambach expressed his surprise with the improvement considering all the negative factors: It is remarkable that the ZEW Economic Sentiment for Germany has not … “Improving German Economic Sentiment Doesn’t Prevent Euro from Falling”
British Pound Rallies on Upbeat UK Wages Data Amid Brexit Hopes
The Sterling pound today rallied higher against the US dollar following the release of upbeat UK wages data in the early European session. The pound was also boosted by investor hopes of another Brexit referendum after the Labour Party introduced a motion to back the same in Parliament. The GBP/USD currency pair today rallied from … “British Pound Rallies on Upbeat UK Wages Data Amid Brexit Hopes”
Chinese Yuan Weakens As Growth Slows to 28-Year Low
The Chinese yuan weakened against its major currency rivals to kick off the trading week as the latest gross domestic product (GDP) figures were released. And it was not pretty for the worldâs second-largest economy, though some traders are finding needles in a haystack with government data. On Monday, China announced that its official economic … “Chinese Yuan Weakens As Growth Slows to 28-Year Low”
BOJ has new reasons not to reach its inflation target
The BOJ is set to keep interest rates unchanged in the first decision of 2019. The global slowdown provides an excuse to push back the inflation targets. The decision will not change the yen’s safe-haven status anytime soon. The Bank of Japan makes its first rate decision for the year on Wednesday, January 23rd, late … “BOJ has new reasons not to reach its inflation target”
Canadian Dollar Declines Against US Peer on Weak Crude Oil Prices
The Canadian dollar today fell against its US counterpart as investors reacted to a drop in global crude oil prices during today’s session. The loonie, whose performance is closely linked to crude oil prices fell despite the lack of much activity around the greenback as US markets remain closed. The USD/CAD currency pair today rallied … “Canadian Dollar Declines Against US Peer on Weak Crude Oil Prices”
Australian Dollar Posts Small Losses After China’s Growth Slows
The Australian dollar demonstrated small losses during the current trading session after economic data showed slowing growth in China, Australia’s biggest trading partner. Trading was more quiet than usual today as US markets are closed for a holiday. The National Bureau of Statistics of China reported that gross domestic product grew 6.4% in the fourth quarter of 2018, year-on-year, slowing from the 6.5% rate of growth in the third quarter. It … “Australian Dollar Posts Small Losses After China’s Growth Slows”
EUR/USD: No New Signals From Next Week ECB Means EUR/USD Still At Stage 1 Of 3 – Danske
EUR/USD dropped from the highs as fears about the euro-zone grew. What’s next? The ECB is in focus. Here is their view, courtesy of eFXdata: Danske Research discusses its expectations for next week’s ECB policy meeting. “With no new policy signals expected next week, we stick to our three-stage rocket to orbit view for the … “EUR/USD: No New Signals From Next Week ECB Means EUR/USD Still At Stage 1 Of 3 – Danske”