The euro today traded in a tight range against the US dollar amid a market that was largely stable and lacked volatility. The release of upbeat data from the US docket in the early American session saw the EUR/USD currency pair come under intense selling pressure. The EUR/USD currency pair today traded in a range … “Euro Trades Sideways Despite In-Line Eurozone Inflation Data”
Author: admin_mm
The Japanese yen is looking bearish
I am looking at the USDJPY pair. It looks like the bears are in control of price action again. After the flash crash from last week, there is some new selling enthusiasm that is developing. There are a few technical indications that tell me a continuation of the downtrend is imminent. There was a bearish … “The Japanese yen is looking bearish”
Sterling Range Bound on Mixed UK Data Before Leadership Vote
The Sterling pound today traded in a range as investors recovered from yesterday’s crazy swings following the historic Brexit vote. The GBP/USD currency pair was largely immune to most of the data released from the UK docket as investors remained cautious Noahead of a Parliamentary no-confidence vote against Theresa May. The GBP/USD currency pair today traded between a high of 1.2896 and a low of 1.2824 and was within this range at the time of writing. The cable was … “Sterling Range Bound on Mixed UK Data Before Leadership Vote”
Canadian Dollar Rises on Soft US Inflation, Crude Supply Contraction
The Canadian dollar is rising midweek after the US government reported soft inflation levels. The loonie is also getting a lift on market expectations that US crude oil inventories will record a contraction. This comes as market sentiment pertaining to the short-term health of the currency is split. On Tuesday, the producer price index (PPI) fell 0.2%, beating market projections of 0.1%. The wholesale costs of goods slipped 0.4%, driven by the steep … “Canadian Dollar Rises on Soft US Inflation, Crude Supply Contraction”
Pound Jumps After May Suffers Resounding Defeat in Brexit Vote
As was expected UK Prime Minister Theresa May suffered a defeat in the crucial Brexit vote. Yet apparently, traders used “sell the rumor, buy the fact” approach for the Great Britain pound as the currency jumped on the news. As was widely expected, the Parliament rejected May’s “Withdrawal Agreement” approved by the European Union leaders. The defeat was resounding, with 432 MPs voting against the agreement and just 202 voting in favor of the deal. The Prime Minister … “Pound Jumps After May Suffers Resounding Defeat in Brexit Vote”
Euro Declines on 5-Year Low German GDP Data and Dovish Draghi
The euro today declined significantly against the US dollar from the early European session after attempting to rally higher during the Asian session. The single currency’s decline was initially triggered by the US dollar’s slight rebound before the weak German GDP data caused it to crash to new weekly lows. The EUR/USD currency pair today dropped from a high of 1.1490 to a low of 1.1391 following Draghi’s speech. The currency pair’s initial … “Euro Declines on 5-Year Low German GDP Data and Dovish Draghi”
US Dollar Weakens As Wholesale Inflation Falls
The US dollar is trading lower against its major currency rivals on Tuesday after new US government data found that wholesale inflation declined at the end of 2018, recording its biggest drop in five months. The greenback is also tumbling on a variety of comments from the experts warning about the government shutdownâs impact on the US economy. In December, the producer price index (PPI) slipped 0.2%, beating median estimates of 0.1%, … “US Dollar Weakens As Wholesale Inflation Falls”
Economic Data in China & New Zealand Poor, NZ Dollar Declines
The New Zealand dollar fell today due to disappointing macroeconomic reports in China. New Zealand’s own economic data released overnight was not particularly good as well, though it improved compared to the previous reporting periods. Statistics New Zealand reported that food prices fell 0.2% in December after declining 0.6% in November. That is without adjusting for seasonal variations. Seasonally adjusted, food prices actually increased … “Economic Data in China & New Zealand Poor, NZ Dollar Declines”
Euro Mixed After Macroeconomic Data Disappoints
The euro was mixed today following the release of lackluster macroeconomic data in the eurozone. The currency gained on the US dollar, which remained extremely soft, but was flat versus the Great Britain pound and fell against safe currencies like the Japanese yen and the Swiss franc. German wholesale prices dropped 1.2% in December after rising 0.2% in November. Eurozone industrial production declined 1.7% in November after increasing 0.1% in October. Analysts … “Euro Mixed After Macroeconomic Data Disappoints”
Chinese Yuan Sideways on Worse-Than-Expected Trade Data
The Chinese yuan is trading sideways to start the trading week as new worse-than-expected trade data is showing bad signs for the worldâs second-largest economy. Last monthâs trade woes are leaving investors with the belief that these numbers will only worsen in the coming months. According to Chinaâs General Administration of Customs, total exports declined 1.4% to $221.25 billion and total imports fell 10% to $164.19 billion in December. Compared … “Chinese Yuan Sideways on Worse-Than-Expected Trade Data”