The Swiss franc was relatively strong today, trading flat against some currencies while gaining versus others. That was surprising, considering that the central bank left interest rates in the negative territory and lowered inflation projections. The Swiss National Bank kept borrowing costs unchanged at today’s policy meeting, with the interest on sight deposits remaining at -0.75% and the target range for the three-month Libor staying at between â1.25% and â0.25%. The central … “Franc Flat-to-Higher Despite Downgrade of SNB Inflation Forecast”
Author: admin_mm
Australian Dollar Strongest During Thursday’s Trading
The Australian dollar was the strongest currency today. It was fighting with the Great Britain pound for the first place, and currently the Aussie is on top. Domestic macroeconomic data released over the trading session was good, with the Melbourne Institute Consumer Inflationary Expectations logging an increase from 3.6% in November to 4.0% in December. But the more important factor supporting the Australian currency was the positive general market sentiment, supported by reports … “Australian Dollar Strongest During Thursday’s Trading”
Britain’s Pound Rallies After Theresa May Survives Confidence Vote
The Great Britain pound gained today after Britain’s Prime Minister Theresa May survived the no-confidence vote of her party. While the currency has lost its gains versus the US dollar by now, it kept them against other major rivals. The Prime Minister retained leadership in her Conservative party, winning with 200 votes in her favor versus 117 votes against her, and now she is immune … “Britain’s Pound Rallies After Theresa May Survives Confidence Vote”
Japanese Yen Shows No Clear Trend After Mixed Data
The Japanese yen did not have a clear trend today, rising against some currencies but falling versus others. Macroeconomic data released during the Asian trading session was mixed. The Corporate Goods Price Index rose 2.3% in November from the previous year, a bit less than analysts had predicted — 2.4%. The Indices of Tertiary Industry Activity increased 1.9% in October from the previous month, exceeding the average forecast … “Japanese Yen Shows No Clear Trend After Mixed Data”
Australian Dollar Gains Despite Interest Rate Projections, Unimpressive Economic Data
The Australian gained against most of its major rivals today, with the exception of the euro. News from Australia itself was not particularly supportive, but the currency profited from the positive market sentiment caused by the news from Great Britain. The National Australia Bank pushed back its projections for an interest rate hike from the Reserve Bank of Australia. Previously, the NAB was predicting that the RBA will perform couple of hikes … “Australian Dollar Gains Despite Interest Rate Projections, Unimpressive Economic Data”
Chinese Yuan Strengthens As Beijing Prepares for 2019 Economic Plan
The Chinese yuan is strengthening midweek as the federal government prepares to unveil its economic game plan. After a disappointing 2018 performance, mostly due to the US-China trade war, Beijing is looking to spur growth by introducing a series of measures that President Xi Jinping hopes will limit the damage. President Xi and the nationâs top leaders will converge on the Central Economic Work Conference, an annual gathering of ministers, provincial governors, senior … “Chinese Yuan Strengthens As Beijing Prepares for 2019 Economic Plan”
British Pound Rallies as PM May Expected to Win Leadership Challenge
The British pound today rallied higher from the early European session as analysts predicted that the British Prime Minister will win the leadership challenge from within her party. Most analysts are predicting that Theresa May will win the no-confidence vote scheduled for later today despite 48 Tory MPs submitting letters that triggered the vote. The … “British Pound Rallies as PM May Expected to Win Leadership Challenge”
Japanese Yen Trades with Losses During Wednesday’s Asian Session
The Japanese yen started the Wednesday’s session in the red across the board. The positive market sentiment was the likely reason for the losses of the safe-haven currency, though negative macroeconomic data might have played its part as well. Japan’s Cabinet Office reported that the seasonally adjusted number of core machinery orders increased by 7.6% in October from September. While it was a better reading than September’s drop by 18.3%, the increase failed to meet … “Japanese Yen Trades with Losses During Wednesday’s Asian Session”
Euro Fails to Profit from Improving Economic Sentiment
The euro fell against most of its major rivals today with the exception of the Great Britain pound. Positive macroeconomic data was unable to support the currency. The ZEW Indicator of Economic Sentiment for Germany climbed from -24.1 in November to -17.5 in December instead of falling to -25.0 as analysts had predicted. The index for the whole eurozone edged up from -22.0 to -21.0, whereas analysts had predicted a decrease to -23.2. The report was not particularly … “Euro Fails to Profit from Improving Economic Sentiment”
Aussie Gains on Positive News About US-China Trade War
The Australian dollar gained today despite domestic macroeconomic data, which was not particularly supportive to the currency. The rally was a result of the positive market sentiment caused by news about good developments in the US-China trade relationships. The Australian Bureau of Statistics reported that the House Price Index fell 1.5% in the September quarter from the previous three months, matching the analysts’ general consensus, after falling 0.7% in the previous quarter. National Australia … “Aussie Gains on Positive News About US-China Trade War”