The Swiss franc was behaving similar to the Japanese yen today, rising against its rivals due to waning risk appetite. Negative domestic macroeconomic data was unable to prevent the rally. The Federal Statistical Office reported that the Swiss Consumer Price Index fell 0.3% in November from the previous month after increasing 0.2% in October. Analysts had expected a smaller decrease by 0.1%. The report commented on the result: The 0.3% drop compared … “Swiss Franc Gains Despite Slowing CPI”
Author: admin_mm
Chinese Yuan Keeps Up the Momentum on US Trade Truce
The Chinese yuan is continuing to post significant gains in the aftermath of the US-China trade truce. With trade hostilities suspended for 90 days, the yuan is looking to pare its steep losses, and some analysts believe the currency could become a global heavyweight in the years to come. Now if only the economy would … “Chinese Yuan Keeps Up the Momentum on US Trade Truce”
Euro Rallies Against US Dollar Amid Falling US Bond Yields, Later Declines
The euro today rallied higher against the weaker US dollar boosted by bearish investor sentiment towards the world’s reserve currency. The EUR/USD currency pair rallied higher as markets reacted to falling US Treasury yields amid doubts about the trade ceasefire between the US and China. The EUR/USD currency pair today rallied from an opening low … “Euro Rallies Against US Dollar Amid Falling US Bond Yields, Later Declines”
Yen Surges as Risk Appetite Caused by US-China Truce Wanes
The Japanese yen jumped against its most-traded rivals today as optimism caused by the truce in the trade war between the United States and China waned, and market participants started to question whether the agreement will hold. Markets rejoiced yesterday due to announcement that the USA and China agreed to not implement additional tariffs on each other for a 90-day period, opening their markets in the meantime. Yet today the positive sentiment caused by the news weakened, sending … “Yen Surges as Risk Appetite Caused by US-China Truce Wanes”
Aussie Mixed After RBA, Current Account
The Australian dollar was mixed today after the nation’s central bank kept interest rates unchanged, while the current account deficit narrowed. The Reserve Bank of Australia kept its benchmark cash rate at 1.5% today, surprising no one. The central bank was fairly optimistic about economic growth, both domestic and global, though mentioned dangers of trade wars to global trade. The RBA stated: Further progress in reducing unemployment … “Aussie Mixed After RBA, Current Account”
Australian GDP growth may slow, but AUD/USD remains bullish
Australia is expected to report a slowdown in economic growth in Q3. The Australian Dollar continues riding on hopes for improved global trade. Australia publishes its Gross Domestic Product for the third quarter of 2018 on Wednesday, December 5th, at 00:30 GMT. The Australian economy enjoyed a robust growth rate of 0.9% QoQ and 3.4% … “Australian GDP growth may slow, but AUD/USD remains bullish”
EUR/USD: Three reasons to prefer the downside – Barclays
EUR/USD is looking for a new direction in the all too familiar 1.13 handle. Where next? Here is their view, courtesy of eFXdata: Barclays Research discusses EUR/USD tactical outlook and flags a scope for a downside risk within the pair’s recent broad range. “A rebound in the USD will likely add downward pressure on EURUSD this … “EUR/USD: Three reasons to prefer the downside – Barclays”
AUD/USD: 3 things to watch in the RBA decision
The RBA is expected to leave its interest rate unchanged in its last decision for 2018. Several factors make the decision a significant one. The Reserve Bank of Australia announces its rate decision on Tuesday, December 4th, at 3:30 GMT. The RBA is broadly expected to leave the Cash Rate unchanged at 1.75%, the rate … “AUD/USD: 3 things to watch in the RBA decision”
Pound Declines Ahead of Important Brexit Vote
The Great Britain pound declined against other most-traded currencies today as Brexit worries outweighed positive macroeconomic data released during the European trading session. The UK Parliament will vote on December 11 for the trade deal between the United Kingdom and the European Union. The vast majority of specialists agree that the deal will likely be rejected. Such outcome can result in a range of negative repercussions, from resigning of Prime Minister Theresa … “Pound Declines Ahead of Important Brexit Vote”
Positive Market Sentiment Does Not Prevent Rally of Swiss Franc
The Swiss franc gained today even though the market sentiment was favorable to riskier currencies, not the safer ones. Domestic macroeconomic data was positive but did not seem to play a part in the currency’s rally. The Swiss manufacturing Purchasing Managers’ Index rose from 57.4 to 57.7 in November. Analysts had predicted a decline to 56.3. Retail sales climbed 0.8% in October from the previous year, while the median forecast had … “Positive Market Sentiment Does Not Prevent Rally of Swiss Franc”