The New Zealand dollar rose sharply today after a report showed that the business confidence improved this month, though remained negative. The ANZ business confidence index climbed to -24.1 in December from -37.1 in the previous month. The report said: – Expected profitability and employment, investment and export intentions rose, and perceived availability of credit jumped sharply. – Marring the picture a little, most indicators for the agriculture sector deteriorated. The construction … “NZ Dollar Rises Sharply After Business Confidence Improves”
Author: admin_mm
Aussie Mixed After Dovish RBA Minutes, Macroeconomic Data
The Australian dollar was mixed today after the release of monetary policy meeting minutes from the Reserve Bank of Australia and macroeconomic data. The currency rose against few of its major rivals, including the US dollar, but fell against others, like the Japanese yen and the New Zealand dollar. The RBA released today minutes of its monetary policy meeting that happened on December 4. Markets considered them to be more dovish … “Aussie Mixed After Dovish RBA Minutes, Macroeconomic Data”
Risk-Averse Environment Helps Yen Gain for Third Day
The Japanese yen rose today, extending its gains for the third consecutive trading session. The main reason for the rally was the negative market sentiment, which made investors seek safer options to park their funds. Concerns about global growth intensified after the crash of stock markets around the world. Yesterday, all of US stock indices dropped, most of them falling about 2% or more. Asian and European equities slumped as well, … “Risk-Averse Environment Helps Yen Gain for Third Day”
Pound Soft As Brexit Vote Delayed till January, Prime Minister Faces No-Confidence Vote
The Great Britain pound fell against most other major currencies today, with the US dollar being an exception. Lingering Brexit concerns and political turmoil in the United Kingdom diminished the sterling’s attractiveness to traders. UK Prime Minister Theresa May delayed the Parliament vote on her Brexit plans till January 14. May basically admitted that she would lose the vote. That did not sit well with the opposition, … “Pound Soft As Brexit Vote Delayed till January, Prime Minister Faces No-Confidence Vote”
Japanese Yen Strengthens Despite Growth Risks, Flat Business Sentiment
The Japanese yen is strengthening against its major rivals to start the trading week. Despite a wide array of factors that should send the currency lower, the yen is continuing momentum from the five sessions. With bitter trade discussions on the horizon, can Tokyo prevent further economic declines in the aftermath of the string of natural disasters? At this weekâs policy meeting, the Bank of Japan (BOJ) is expected to warn of rising growth risks … “Japanese Yen Strengthens Despite Growth Risks, Flat Business Sentiment”
US Dollar Retreats from Friday’s Elevated Levels, Economic Data Hurts
The US dollar opened at Friday’s elevated levels but has declined versus most of its major rivals by now. It looks like uncertainty associated with this week’s policy announcement from the Federal Reserve hit the currency after all. Domestic macroeconomic data, being poor, was not helping the greenback. The New York Empire State Manufacturing Index dropped to 10.9 in December from 23.3 in November. Experts had … “US Dollar Retreats from Friday’s Elevated Levels, Economic Data Hurts”
Canadian Dollar Falls, Declining Foreign Securities Purchases Weigh
The Canadian dollar was falling against its major rivals today, even against the US dollar, which itself was vulnerable. The loonie extended losses after the release of poor macroeconomic data in Canada. Foreign investment in Canadian securities was at C$4.0 billion in October, down from C$7.8 billion in September. Analysts had predicted a far higher value of C$6.2 billion. At the same time, Canadian investment in foreign securities increased to C$14.9 … “Canadian Dollar Falls, Declining Foreign Securities Purchases Weigh”
Last Week Before Holidays Can Be Crucial for US Dollar
The last week before holidays has potential to become crucial in determining the dollar’s performance in the near future. The policy meeting of the Federal Reserve will be the highlight of the week, but important economic reports scheduled for release on Friday can also affect the currency. The past week was extremely positive for the US dollar due to risk aversion caused by signs of slowing global growth. Furthermore, the US Dollar Index started the current week at 97.44, … “Last Week Before Holidays Can Be Crucial for US Dollar”
Pound Ends Week as Weakest Currency due to Brexit Worries
The Great Britain pound ended the week as the weakest currency on the Forex market as the Brexit and associated uncertainties were in the center of the traders’ attention. The US dollar, on the other hand, ended the week strongest due to risk aversion. The sterling crashed at the beginning of the week as the crucial parliament vote on the Brexit was delayed to at least January. The currency rebounded later as Prime Minister Theresa May survived the confidence vote of her Conservative party. Yet the currency erased those … “Pound Ends Week as Weakest Currency due to Brexit Worries”
Euro Crashes to New Monthly Lows on Weak Eurozone PMI Prints
The euro today crashed to new monthly lows in the early European session following the release of multiple disappointing flash PMI readings from across the eurozone by IHS Markit. The EUR/USD currency pair later extended its losses following the release of upbeat US advance retail sales data for November in the early American session. The … “Euro Crashes to New Monthly Lows on Weak Eurozone PMI Prints”