The euro today largely traded sideways against the US dollar following yesterday’s significant recovery from lows last witnessed in mid-December. However, despite the recovery, analysts are still predicting that the euro is likely to be in a bearish trend for most of January. The EUR/USD currency pair today traded in a range between a high … “Euro Drops on Weak PMI and CPI Data, Trades Sideways Before NFP”
Author: admin_mm
Canadian Dollar Surges to Two-Week High on High Energy Prices
The Canadian dollar surged to its best level in two weeks, just days after lodging its worst annual performance since 2015. The loonie is gaining steam on higher energy prices, but investors are looking to Fridayâs labor report, which could signal how the Bank of Canada (BOC) will move on interest rates later this month. On Thursday, US crude oil prices inched towards the $47 mark, … “Canadian Dollar Surges to Two-Week High on High Energy Prices”
3 reasons for the USD weakness
The US Dollar is on the back foot and it’s not only a “flash crash”. The move is broad, with commodity currencies also taking advantage of the fall. There are three reasons for the fall. Cascading stops in the most illiquid hours of the day when Japan was on holiday were all blamed for the … “3 reasons for the USD weakness”
Euro Recovers From Yesterdayâs Flash Crash Ahead of US Data
The euro today was on a recovery path following yesterday’s “flash crash” that was triggered by Apple’s profit warning based on the economic slowdown in China. The EUR/USD was also under pressure due to the decline in German bond yields and the placing into administration of an Italian bank by the ECB. The EUR/USD currency … “Euro Recovers From Yesterdayâs Flash Crash Ahead of US Data”
Chinese Yuan Strengthens Despite Weak Manufacturing Data
The Chinese yuan is strengthening against its US counterpart midweek, despite new data that shows the worldâs second-largest economy had a worse December than the market had anticipated. This is leaving some central bankers to forecast a slower-than-expected fourth-quarter, which is not something the nationâs leadership wants to hear as it ignites a wave of stimulus measures. The Caixin/Markit Manufacturing Purchasing Managersâ Index (PMI) declined to 49.7 in December, … “Chinese Yuan Strengthens Despite Weak Manufacturing Data”
Sterling Pound Falls Despite Upbeat UK Manufacturing PMI
The British pound today fell to new 2-day lows against the US dollar amid a risk-off market sentiment, which favored the US dollar. The GBP/USD currency pair today broke the crucial 1.2700 support level as the markets continued to react to the uncertainty facing the UK economy due to the looming Brexit date. The GBP/USD currency pair today … “Sterling Pound Falls Despite Upbeat UK Manufacturing PMI”
US Dollar Hit by Weaker Manufacturing Data
The US dollar is kicking off 2019 lower against some of its major currency rivals. On Tuesday, the greenback took a slight hit on weaker December manufacturing data, as well as markets forecasting a more dovish Federal Reserve this year. Can the buck mirror its incredible but surprising performance from 2018? Or it will retreat amid political turmoil and geopolitical tensions? For the first time since May 2016, five … “US Dollar Hit by Weaker Manufacturing Data”
Chinese Yuan Flat on Final Day of 2018
The Chinese yuan is closing 2018 flat against its American counterpart as investors brace for a new year. Experts contend that the yuan should have a better 2019, but only if the worldâs two largest economies find a balance on trade. For now, the economic data is grim and pessimism reigns supreme. In December, Chinaâs economy did not show any signs of improvement. Manufacturing sector activity contracted for the first time … “Chinese Yuan Flat on Final Day of 2018”
British Pound Rallies to 3-Week Highs on New Yearâs Eve
The British pound today rallied higher against the US dollar largely due to high selling pressure on the greenback during the European session. The thin trading activity witnessed in the markets on the last trading day of 2018 and Brexit developments might have also contributed to the spike higher. The GBP/USD currency pair today rallied … “British Pound Rallies to 3-Week Highs on New Yearâs Eve”
Euro Rallies Against US Dollar Then Drops on Weak German CPI Data
The euro today rallied against the US dollar from the Asian session and maintained its gains into the European session amid minimal holiday trading. However, the single currency dropped slightly following the release of the disappointing German consumer inflation data in the early American session. The EUR/USD currency pair today rallied from an opening and … “Euro Rallies Against US Dollar Then Drops on Weak German CPI Data”