The New Zealand dollar gained today. Domestic macroeconomic data released overnight was good, but it does not seem to contribute much to the currency’s rally. Statistics New Zealand reported that the seasonally adjusted number of building consents increased 1.5% in October from the previous month. The increase followed the 1.3% drop in September. Year-on-year, the indicator rose 6.7%. NZD/USD edged up from 0.6857 to 0.6868 as of 13:36 GMT today. … “New Zealand Building Consents Rise, NZ Dollar Goes Higher”
Author: admin_mm
Australian Dollar Weaker After China’s Disappointing Data
The Australian dollar fell today. While domestic macroeconomic data was decent, reports in China, Australia’s biggest trading partner, were disappointing. China’s official manufacturing Purchasing Managers’ Index fell from 50.2 in October to 50.0 in November. Economists had expected the index to remain unchanged. The non-manufacturing PMI dropped to 53.4 from 53.9, touching the lowest level in 15 months. Analysts had also expected the indicator to stay little changed. … “Australian Dollar Weaker After China’s Disappointing Data”
Euro Declines on Weak Eurozone CPI Data Ahead of G20 Summit
The euro today headed lower against the US dollar from the early European session following the release of the mixed German retail sales data. The EUR/USD currency pair extended its losses in the mid-European session after the release of disappointing eurozone inflation data. The EUR/USD currency pair today declined from a high of 1.1400 in the … “Euro Declines on Weak Eurozone CPI Data Ahead of G20 Summit”
Canadian Dollar Pares Losses on Energy Prices, Account Deficit
The Canadian dollar is paring its earlier losses against its American counterpart on Thursday, buoyed by rallying energy prices and a smaller current account deficit. The loonie has weakened nearly 1% over the last trading week, mainly because of the bear market in international crude oil markets. According to Statistics Canada, the national current account deficit tumbled to $10.34 billion in the third quarter of this year, down from a revised $16.68 … “Canadian Dollar Pares Losses on Energy Prices, Account Deficit”
Euro Declines on Weak Eurozone Data, Later Rallies on Weak US Data
The euro today fell from Asian session highs in the early European session following the release of mixed macro data from across the euro area. The EUR/USD currency pair later rallied higher in the mid-European session as market risk sentiment improved before heading lower in the American session. The EUR/USD currency pair today traded between … “Euro Declines on Weak Eurozone Data, Later Rallies on Weak US Data”
5 reasons to fade the downfall of the dollar on Powell’s speech
The US Dollar fell after Powell’s speech that was perceived as dovish. However, there are five reasons to see the greenback outperform its peers. Markets jumped on the words “just below neutral” that Powell used to refer to interest rates. Stocks soared, and the US Dollar tumbled down. While a December hike 1) What Trump said … “5 reasons to fade the downfall of the dollar on Powell’s speech”
Swiss Franc Declines After GDP Unexpectedly Contracts
The Swiss franc dropped today as Switzerland’s economic growth halted unexpectedly. The currency did not react to the report immediately, moving largely sideways for some time, but declined sharply later. Swiss gross domestic product fell 0.2% in the third quarter of 2018. That is instead of rising 0.4% as economists had predicted. GDP advanced 0.7% in the previous three months. USD/CHF inched up from 0.9936 to 0.9944 as of 12:58 GMT … “Swiss Franc Declines After GDP Unexpectedly Contracts”
NZ Dollar Drops on Negative Business Confidence, Trims Losses Later
The New Zealand dollar fell today as the business confidence remained negative. Yet by now, the currency has trimmed losses, erasing them outright against some of its rivals. The ANZ Business Confidence remained at -37.1 in November, the same as in October. Not everything in the report was bad, though, as it said: Encouragingly, both residential and commercial construction intentions bounced back markedly. NZD/USD traded near its opening level of 0.6867 as of 12:35 … “NZ Dollar Drops on Negative Business Confidence, Trims Losses Later”
British Pound Heads Lower on Barnier and Carney Brexit Warnings
The British pound today dropped to new daily lows following warning comments made by the European Union’s chief Brexit negotiator, Michel Barnier regarding the latest Brexit deal. The pound’s decline was further weighed down by a warning from the BoE Governor Mark Carney that most UK businesses are ill-prepared for a no-deal Brexit scenario. The … “British Pound Heads Lower on Barnier and Carney Brexit Warnings”
Dovish Fed Chair Powell Makes Greenback Sink
The US dollar was trading mostly sideways during the Wednesday’s trading session despite disappointing macroeconomic data. But that changed after Federal Reserve Chairman Jerome Powell delivered a surprisingly dovish speech, after which the greenback plunged. Powell delivered a speech titled “The Federal Reserve’s Framework for Monitoring Financial Stability” at the Economic Club of New York today. Markets especially focused on one particular statement in the speech: Interest rates … “Dovish Fed Chair Powell Makes Greenback Sink”