While the Japanese yen was soft against commodity currencies today, it managed to gain on many other most-traded peers. That was surprising considering the risk-on market sentiment, which made safe currencies less attractive to traders. The Ministry of Finance Japan reported that capital spending rose 4.5% in the third quarter of this year from the same period a year ago, missing the average forecast of an 8.6% increase. The Nikkei Japan … “Japanese Yen Gains on Majors Despite Positive Market Sentiment”
Author: admin_mm
Euro Rallies on Risk-On Sentiment, Later Declines as Markets Cool Off
The euro today rallied higher against the US dollar during the Asian session mainly due to the risk-on sentiment following the US-China trade truce. The euro later declined in the early European session as market sentiment became neutral and the EUR/USD currency pair moved into negative territory. The EUR/USD currency pair today rallied to a high … “Euro Rallies on Risk-On Sentiment, Later Declines as Markets Cool Off”
Canadian Dollar Surges on Trade Truce, Higher Energy Prices
The Canadian dollar is surging against its American counterpart to start the trading week, supported by rallying energy prices and the temporary pause in trade hostilities between the worldâs two largest economies. The loonie, which has retreated nearly 5% this year, is looking to finish the year strong. Over the weekend, President Donald Trump and Chinese President Xi Jinping held talks in Argentina during the G20 summit to discuss the year-long trade … “Canadian Dollar Surges on Trade Truce, Higher Energy Prices”
Aussie Emerges as Strongest on Forex Market, Ignores Domestic Data
The Australian dollar opened sharply higher on Monday thanks to the news about a ceasefire in the trade war between the United States and China. The news overshadowed Australia’s domestic macroeconomic reports, basically all of which were poor. The Australian Industry Group Australian Performance of Manufacturing Index slumped from 58.3 in October to 51.3 in November, signaling that manufacturing growth slowed significantly. In fact, it was the lowest reading since October 2017. Building … “Aussie Emerges as Strongest on Forex Market, Ignores Domestic Data”
NZ Dollar Surges on News About US-China Trade War Truce
The New Zealand dollar surged along with other commodity currencies today on the news about a temporary truce in the trade war between the United States and China. The kiwi was unable to beat its Australian counterpart, which emerged as the strongest on the Forex market. The US and China leaders agreed for a 90-days truce. The countries will not implement additional tariffs against each other and will open their markets during the period. While many … “NZ Dollar Surges on News About US-China Trade War Truce”
US Dollar Ends Week Firm on Interest Rate Outlook
The US dollar slumped during the week after Federal Reserve Chairman Jerome Powell made a U-turn, saying that interest rates close to neutral levels. The currency recovered later following the Fed policy minutes. Commodity currencies were strongest during the week, with the exception of the Canadian dollar. US stocks climbed, while the greenback tumbled, after Powell stated that borrowing costs are “just below” the neutral level, contradicting … “US Dollar Ends Week Firm on Interest Rate Outlook”
US Dollar Rebounds on Fed Minutes, G20 Summit Optimism
The US dollar rebounded at the end of the trading week after new Federal Reserve minutes show the central bank favors raising interest rates in December and beyond. With investors paying close attention to this weekendâs G20 summit, all eyes are on President Donald Trumpâs critical meeting with Chinese President Xi Jinping. Wall Street is trying to be optimistic, but is a new trade agreement hopeless? According … “US Dollar Rebounds on Fed Minutes, G20 Summit Optimism”
Canadian Dollar Falls After GDP Miss, Reverses Losses Later
The Canadian dollar fell today after Canada’s GDP data turned out to be disappointing. The currency swiftly reversed its movement, though, trimming losses against some rivals, while erasing them outright against others. The loonie even managed to gain on the euro, which felt pressure from slowing eurozone inflation. Statistic Canada reported that gross domestic product fell 0.1% in September from the previous month — the first … “Canadian Dollar Falls After GDP Miss, Reverses Losses Later”
Bitcoin receives some good news, but can it recover for real?
BTC/USD attempted a recovery after losing $4,000, but never went too far. Two celebrities are investigated about ICO’s while institutional trading is picking up. Technically, Bitcoin is touching oversold territory, leaving a question mark over the next move. Bitcoin and other cryptocurrencies suffered another massive downfall over the weekend, on November 24th. BTC/USD crashed below … “Bitcoin receives some good news, but can it recover for real?”
Swiss Franc Declines as Economic Barometer Falls Below Expectations
The Swiss franc declined today following the release of underwhelming macroeconomic data. While the currency actually gained immediately after the release, the rally was short-lived, and the Swissie retreated afterwards. The KOF Economic Barometer fell from 100.2 in October to 99.1 in November. Experts had predicted a smaller drop to 99.6. The report commented on the result: This monthâs decline was in particular due to less favourable export prospects. The impetus from foreign demand is … “Swiss Franc Declines as Economic Barometer Falls Below Expectations”