The US dollar was one of the strongest currencies during the trading week, mostly due to the optimism about Sino-US trade negotiations. Surprisingly, the Great Britain pound was also strong despite the unfolding Brexit drama. Trade talks between US and Chinese officials in Beijing was the main theme for the dollar during the week. Signs that China is going to continue buying US goods were welcomed by markets. And while US officials … “US Dollar Ends Week Strong on Hopes for Improvement in Sino-US Trade Relationships”
Author: admin_mm
Canadian Dollar Firm After Better-than-Expected CPI Release
The Canadian dollar managed to gain on most of its major rivals today, excluding the US dollar, thanks to the better-than-expected inflation print released by Statistics Canada during the trading session. The Consumer Price Index rose 2.0% in December, year-over-year. Analysts were expecting the same 1.7% increase as in November. Month-on-month, the index rose 0.2% in December, seasonally adjusted, after falling 0.1% in November. The biggest contributor to the increase were airfares (+21.7%), offsetting the falling … “Canadian Dollar Firm After Better-than-Expected CPI Release”
US Dollar Gains on Mixed Data, China Trade News
The US dollar gained momentum on Friday, extending its gains over the past week. The greenback edged higher on mixed economic reports were released and breaking news that China is offering a $1 trillion-a-year olive branch on imports that could end the trade war almost immediately. Consumer sentiment cratered to its lowest level since President Donald Trump … “US Dollar Gains on Mixed Data, China Trade News”
Pound Drops From 2-Month Highs as UK Retail Sales Disappoint
The British pound today fell from yesterday’s 2-month highs against the US dollar following Theresa May‘s victory in the no-confidence vote against her on Wednesday. The GBP/USD currency pair today declined as markets monitored Brexit developments amid low volatility. The GBP/USD currency pair today dropped from a high of 1.2993 in the Asian session to … “Pound Drops From 2-Month Highs as UK Retail Sales Disappoint”
Swiss Franc Mixed After Bigger-than-Expected Decline of Producer Inflation
The Swiss franc was mixed today following the release of producer inflation data, which showed a bigger-than-expected decline. The general market sentiment was optimistic, weighing on safe currencies like the Swissie and the Japanese yen. The Federal Statistics Office reported that the Producer Price Index fell 0.6% in December from the previous month after falling 0.3% in November. Experts had predicted a much smaller decline by just 0.1%. Annual inflation was … “Swiss Franc Mixed After Bigger-than-Expected Decline of Producer Inflation”
Euro Stabilizes as Investors Revise Their Expectations of an ECB Rate Hike
The euro today traded in a stable rage against the US dollar as investors revised their expectations of a rate hike by the ECB. The single currency was not appealing to investors who have had to deal with weak data releases from the eurozone and a dovish European Central Bank. The EUR/USD currency pair today … “Euro Stabilizes as Investors Revise Their Expectations of an ECB Rate Hike”
Sterling Drops After Retail Sales Fall More than Expected
The Great Britain pound fell against other most-traded rivals, even the weak Japanese yen, after official data showed that retail sales declined last month. The Office for National Statistics reported that retail sales declined 0.9% in December compared with the previous month. Analysts had predicted a bit smaller decline by 0.8%. Furthermore, the November increase of 1.4% got a negative revision to 1.3%. Experts argued that the data … “Sterling Drops After Retail Sales Fall More than Expected”
Japanese Yen Weak on Risk Appetite, Disappointing CPI Release
The Japanese yen fell against majority of its most-traded peers today due to risk appetite prevailing on markets. Disappointing inflation report was not helping the currency either. Japan’s core Consumer Price Index, which excludes fresh food, rose 0.7% in December from a year ago. That is compared to the increase of 0.9% registered in November and 0.8% predicted by analysts. Excluding both fresh food and energy, the index rose just … “Japanese Yen Weak on Risk Appetite, Disappointing CPI Release”
Pound Trades Strongest After Theresa May Wins Confidence Vote
The Great Britain pound was the strongest major currency on the Forex market during Thursday’s trading after UK Prime Minister Theresa May won the confidence vote on Wednesday. The opposition Labor Party leader Jeremy Corbyn tabled a no-confidence motion after May suffered in resounding defeat in the voting for her Brexit plans. May’s government managed to win with 325 to 306 votes. After the victory, the Prime Minister offered members of the Parliament … “Pound Trades Strongest After Theresa May Wins Confidence Vote”
Japanese Yen Rises As BOJ Keeps Rosy Economic Picture
The Japanese yen is gaining against its major currency rivals on Thursday as reports suggest that the Bank of Japan (BOJ) will maintain a bright view of the national economy, despite a myriad of factors suggesting that Tokyo is expected to record disappointing data. According to Reuters, citing sources close to the situation, the Japanese central bank is expected to slash its inflation forecasts during next weekâs policy rate review. This … “Japanese Yen Rises As BOJ Keeps Rosy Economic Picture”