BTC/USD is trading close to $4,200, up some 10% on the day and some 20% off the lows. There are three reasons to be skeptical about this recovery. Bitcoin and other cryptocurrencies are staging a recovery. At current prices, the advance from the trough of $3,456 may even be labeled as a “bull market” thanks to the rise … “3 reasons to sell Bitcoin after the fresh rise”
Author: admin_mm
Japanese Yen Falls on Sluggish Factory Activity, Flat Stocks
The Japanese yen is falling against the greenback midweek as preliminary data found manufacturing activity expanded at the slowest pace since 2016 in November, leaving investors doubtful of strong growth in the fourth quarter. The yen took another hit on forecasts that the Japanese stock market will end the year flat. There was good news for the Bank of Japan (BOJ), though. According to the Flash Markit/Nikkei Japan Manufacturing Purchasing Managersâ Index (PMI), … “Japanese Yen Falls on Sluggish Factory Activity, Flat Stocks”
NZ Dollar Gains After Release of Financial Stability Report
The New Zealand dollar gained today after the Reserve Bank of New Zealand released the Financial Stability report. Gains were limited, though, as market participants were waiting for new developments in the trade war between the United States and China. The RBNZ stated in its semiannual Financial Stability Report released overnight: New Zealandâs financial system risks have eased, but remain high. Slower mortgage lending growth and house price … “NZ Dollar Gains After Release of Financial Stability Report”
Australian Dollar Logs Small Gains Despite Lackluster Data
The Australian dollar gained today despite disappointing domestic macroeconomic data. With that said, gains were relatively small, and the Aussie currently moves sideways. The Australian Bureau of Statistics reported that construction work done fell 2.8% in the September quarter from the previous three months, seasonally adjusted. That is instead of rising 0.9% as experts had predicted. On a positive note, the increase in the previous quarter got a positive revision from … “Australian Dollar Logs Small Gains Despite Lackluster Data”
EUR/USD: S/T Bearish Targets At 1.1215 Ahead Of 1.1115 – ING
EUR/USD is on the back foot once again, struggling with a stronger US Dollar. What’s next? Here is their view, courtesy of eFXdata: ING discusses EUR/USD technical outlook and maintains a bearish bias on a multi-day basis. We do not see the upside potential within this consolidation in the longer-term downtrend. Prices will meet plenty of … “EUR/USD: S/T Bearish Targets At 1.1215 Ahead Of 1.1115 – ING”
Chinese Yuan Weakens As Swine Fever Adds to Economic Woes
The Chinese yuan is weakening on Tuesday as new reports of African swine fever are sending economic ripples across the nationâs agricultural sector. The bearish news did not end there as industrial profits slowed in October and forecasts show growth will cool down next year. Since August, swine fever has killed approximately one million pigs, and the government has prohibited the shipment of most of the 700 million swine. This … “Chinese Yuan Weakens As Swine Fever Adds to Economic Woes”
Euro Falls on Chinese Trade War News, Italy Standoff, and Trump Tariffs
The euro today was buffeted by a deluge of negative news headlines that soured investor sentiment towards the single currency and other riskier currencies. The news headlines included China’s denial of any progress in the trade war talks as well as the Italian budget standoff, which contributed to the EUR/USD currency pair’s massive decline. The EUR/USD currency pair today fell from a high of 1.1344 to a 2-week low of 1.1290 and was on a downtrend at the time of writing. The currency … “Euro Falls on Chinese Trade War News, Italy Standoff, and Trump Tariffs”
NZ Dollar Advances Despite Worse-Than-Expected Trade Balance
The New Zealand dollar rose today despite New Zealand’s trade balance, which was released overnight, missed expectations. Statistics New Zealand reported that the trade balance deficit was at NZ$1.3 billion in October. It was a decrease from September’s deficit of NZ$1.6 billion. Nevertheless, analysts had expected even smaller deficit of NZ$0.85 billion. NZD/USD advanced from 0.6770 to 0.6803 as of 13:14 GMT today. EUR/NZD declined … “NZ Dollar Advances Despite Worse-Than-Expected Trade Balance”
3 scenarios for the Trump-Xi Summit on trade
Presidents Trump and Xi meet in Buenos Aires to talk trade. Recent signs have not been promising and lower expectations. There are three scenarios for the event and currencies. US President Donald Trump meets his Chinese counterpart Xi Jinping on the sidelines of the G-20 Summit on November 30th. Trade tops the agenda. Here are … “3 scenarios for the Trump-Xi Summit on trade”
Canadian Dollar Flat Amid Bleak Economic Outlook, GM Closure
The Canadian dollar is trading relatively flat to start the trading week. Despite upward momentum in the Canadian economy, recent outlooks suggest that it is not as rosy as many think it is. Moreover, the currency was affected after General Motors announced that it was leaving Canada as the company was embarking upon an overall change to its structure. The loonie did find some momentum in higher crude prices. … “Canadian Dollar Flat Amid Bleak Economic Outlook, GM Closure”