The New Zealand dollar managed to pare losses versus its US counterpart today, but remained weak against other most-traded currencies, including the Australian dollar, which itself was vulnerable. The kiwi started Thursday with huge losses due to the disappointing GDP report. The currency managed to bounce versus the greenback later as the US currency was under pressure following the dovish monetary policy statement from the Federal Reserve. During … “NZ Dollar Pares Losses vs. US Dollar, Remains Soft vs. Other Majors”
Author: admin_mm
Swedish Krona Climbs After Riksbank Raises Interest Rates
The Swedish krona jumped today after the nation’s central bank decided to reduce monetary easing, raising its benchmark repo rate. The Riksbank hiked its main interest rate from -0.5% to -0.25% effective from January 9, 2019. It was the first interest rate hike in more than seven years. Furthermore, the central bank signaled that it may raise the rate further in the second half of 2019. USD/SEK … “Swedish Krona Climbs After Riksbank Raises Interest Rates”
Japanese Yen Strong After Fed Announcement Disappoints Markets
The Japanese yen was extremely strong today, rallying against all of its major rivals. Market analysts explained the rally by the reaction to the monetary policy announcement from the Federal Reserve. Experts argued that Fed’s policy statement was less dovish than markets had anticipated. And that led to a surge of risk aversion on markets, driving investors to seek safer assets. Meanwhile, the Bank of Japan concluded its policy meeting today. … “Japanese Yen Strong After Fed Announcement Disappoints Markets”
Canadian Dollar Slides to 18-Month Low on Crude Prices, Manufacturing Data
The Canadian dollar is trading sideways against its US rival on Thursday as investors try to make sense of which direction the loonie is headed. The currency has tumbled to an 18-month low on crashing crude oil prices, and the currency was not helped by disappointing manufacturing data. Canada exports many commodities, primarily crude oil, and the country runs a current account deficit. The economy could take a hit if the global flow of trade … “Canadian Dollar Slides to 18-Month Low on Crude Prices, Manufacturing Data”
Sterling Pound Rallies on Upbeat Retail Sales Data and BoE Decision
The British pound today rallied higher against the US dollar from the mid-Asian session as markets digested yesterday’s Fed monetary policy statement. The pound’s rally was further boosted by the release of upbeat UK retail sales data in the early European session. The GBP/USD currency pair today rallied from an initial low of 1.2612 to … “Sterling Pound Rallies on Upbeat Retail Sales Data and BoE Decision”
Australian Dollar Fails to Keep Gains After Mixed Employment Report
The Australian dollar attempted to rally today following mixed employment data released in Australia. The currency failed to keep gains, though, and is now trading near opening levels against most major rivals. The Australian Bureau of Statistics reported that employment increased by 37,000 jobs in November, seasonally adjusted, exceeding the analysts’ median estimate of 20,000. Yet diving deeper into the report reveals that the data was not particularly good. … “Australian Dollar Fails to Keep Gains After Mixed Employment Report”
NZD Drops Sharply on Wednesday, Attempts to Bounce on Thursday
The New Zealand dollar dropped sharply yesterday after the policy announcement from the US Federal Reserve and extended losses after the release of mixed domestic macroeconomic data. The currency is attempting to bounce today, but by now the kiwi has lost gains it had posted earlier. The biggest negative factor for kiwi (outside of the Fed announcement) was the disappointing growth of New Zealand’s gross domestic product. Statistics New Zealand reported … “NZD Drops Sharply on Wednesday, Attempts to Bounce on Thursday”
USD/THB Little Changed After Thai Central Bank Hikes Interest Rates
The Thai baht was little changed against the US dollar today following yesterday’s interest rate hike from the nation’s central bank. In fact, the baht was little changed versus the greenback for the whole year, being one of the most stable Asian currencies. The Bank of Thailand raised its main interest rate from 1.5% to 1.75 at yesterday’s meeting. Five members of the Monetary Policy Committee voted in favor of such change while … “USD/THB Little Changed After Thai Central Bank Hikes Interest Rates”
US Dollar Resumes Decline After Bouncing on FOMC Projections
The US dollar was moving lower ahead of the policy meeting of the Federal Open Market Committee but bounced sharply afterwards. Yet coming into the Thursday’s Asian session, the currency resumed its decline. As was widely expected, the FOMC hiked the target range for its federal funds rate by 25 basis points to 2.25%-2.5%. What was really interesting to market participants, were the economic projections and the accompanying statement. According to projections, US … “US Dollar Resumes Decline After Bouncing on FOMC Projections”
Chinese Yuan Posts Modest Gains As Beijing Begins Stimulus
The Chinese yuan is posting modest gains against some of its currency rivals after the federal government started to launch several aspects of its stimulus program this week. Experts do believe that the yuan will rebound next year, especially if the US and China are able to reach a new trade deal during the 90-day truce. Chinaâs chief economic planner, the National Development and Reform Commission (NDRC), has … “Chinese Yuan Posts Modest Gains As Beijing Begins Stimulus”