The Chinese yuan is weakening at the end of the trading week on recent National Bureau of Statistics (NBS) data that disappointed investors. This year, the currencyâs descent has been in line with the trends plaguing the national economy, leaving many analysts wondering if the yuan will maintain this negative performance in 2019. According to Chinaâs statistics bureau, November retail sales rose 8.1%, down from 8.6% in October and below the market … “Chinese Yuan Weakens on Disappointing Economic Data”
Author: admin_mm
USD/JPY awaits Powell as fears push it down
USD/JPY advanced as China and the US got closer. The Fed decision is left, right, and center in the pre-Christmas week. The technical picture is mixed for the pair. This was the week: Trade improves, fading European risks, OK data USD/JPY remained a barometer of the global mood in markets, and the atmosphere improved. The … “USD/JPY awaits Powell as fears push it down”
Yen Gains on Domestic Economic Reports, Market Sentiment
The Japanese yen gained against its major rivals today. While the currency has basically erased its gains versus the US dollar by now, it retained them versus other majors. Domestic macroeconomic reports released over the trading session were good, but the general risk-averse market sentiment likely played a bigger part in the yen’s rally. The Tankan Manufacturing Index was at 19 in the December quarter, unchanged from the previous … “Yen Gains on Domestic Economic Reports, Market Sentiment”
Sterling Erases Thursday’s Gains After Theresa May Fails to Renegotiate Brexit Deal
The Great Britain pound crashed today, erasing yesterday’s gains versus a range of major currencies, as UK Prime Minister Theresa May was unable to renegotiate the Brexit deal with the European Union. May won her party’s confidence vote this week, but only with promises to make the Brexit deal more acceptable to her MPs. Yet she left Brussels empty-handed as the EU officials reiterated that the deal is … “Sterling Erases Thursday’s Gains After Theresa May Fails to Renegotiate Brexit Deal”
USD/CAD has more room to rise along the upside support line
The loonie managed to recover, but oil and other concerns limited gains. A busy week features Canadian inflation and retail sales. The technical picture remains bullish for USD/CAD. This was the week: Hopes on trade, oil not recovering Trade relations took a decisive twist with China buying US soybeans and opening its ambitious 2025 to … “USD/CAD has more room to rise along the upside support line”
NZ Dollar Falls as China’s Reports Overshadow Domestic Data
The New Zealand dollar fell during the Friday’s trading session. While domestic macroeconomic data was decent, some of the reports from New Zealand’s biggest trading partner, China, were disappointing. The seasonally adjusted BusinessNZ Performance of Manufacturing Index edged down from 53.7 in October to 53.5 in November. Despite the small decline, the index remained slightly above the long-term average, and the report commented on the result: With two of the three months for the last … “NZ Dollar Falls as China’s Reports Overshadow Domestic Data”
Bitcoin is in need of help from whales as it reels
BTC/USD flirts with new lows in a week that saw a gradual decline. Bitcoin needs another pre-Christmas rally to move up. The charts show oversold conditions, will a bounce follow? Bitcoin enjoyed a recovery of sorts during the weekend, reaching $3,600, but it began a gradual decline from that point onwards. The failure to stage … “Bitcoin is in need of help from whales as it reels”
Australian Dollar Trades Lower After China’s Data Misses Expectations
The Australian dollar declined today after China released a bunch of macroeconomic indicators, some of which missed expectations. China is Australia’s biggest trading partner, making its economic well-being very important for the Australian economy and currency. The National Bureau of Statistics of China released macroeconomic data for November today. Industrial production rose 5.4%, year-on-year, slowing from the 5.9% rate of growth registered in October, whereas economists had expected the expansion … “Australian Dollar Trades Lower After China’s Data Misses Expectations”
Euro Rallies Ahead of ECB Rate Decision, Drops on Dovish Draghi Speech
The euro today rallied before the European Central Bank rate announcement, but dropped lower after the dovish comments made by the ECB President following the announcement. The pair headed lower in the American session despite the release of disappointing American macro data. The EUR/USD currency pair today dropped from a high of 1.1393 to a … “Euro Rallies Ahead of ECB Rate Decision, Drops on Dovish Draghi Speech”
Japanese Yen Extends Losses As Data Misses Expectations
The Japanese yen is weakening against its US counterpart on Thursday after new data missed market forecasts. The currency is now looking to find direction on news that the federal government is aiming to allow more foreign workers to fill the labor gap in the worldâs third-largest economy. Core machinery orders climbed less than expected in October as the nation continued to recover from the massive earthquake in September. According to the latest numbers, … “Japanese Yen Extends Losses As Data Misses Expectations”