The British pound today struggled to find direction as investors adopted a wait and see approach towards the cable even as Theresa May is set to meet Jean-Claude Juncker later today. The pound was relatively stable as it appears that the British Prime Minister has managed to fend off a leadership challenge within her own … “British Pound Struggles as Markets Await May-Juncker Meeting”
Author: admin_mm
Japanese Indices for All Industry Activity Decline, Yen Falls
The Japanese yen declined today. While macroeconomic data released in Japan during the current trading session was not good, that was unlikely the reason for the decline. Japan’s Ministry of Economy, Trade, and Industry reported that the Indices for All Industry Activity fell 0.9% in September from the previous month. The actual drop was a bit higher than the forecast 0.8%. The decline followed the gain by 0.4% in August. USD/JPY advanced from 112.75 … “Japanese Indices for All Industry Activity Decline, Yen Falls”
Australian Dollar Bounces After Two Days of Losses
The Australian dollar rebounded today following two days of losses despite somewhat mixed domestic macroeconomic data. Today’s bounce was not enough to counter yesterday’s decline, though. The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.1% in October from the previous month. The September reading got a positive revision from a drop by 0.1% to zero change. At the same time, six month annualized growth rate, which indicates the likely … “Australian Dollar Bounces After Two Days of Losses”
Chinese Yuan Struggles for Direction As Market Braces for Corporate Defaults
The Chinese yuan is struggling to find direction against its American counterpart on Tuesday as the market weighs several stories impacting the national economy. From President Donald Trumpâs latest swipe on Beijing to the rising tide of corporate defaults, China is bracing for a lot of pressure heading into next year. A new report finds that a growing number of Chinese businesses could default on their debts if they are issued In US … “Chinese Yuan Struggles for Direction As Market Braces for Corporate Defaults”
Will Ripple surpass Bitcoin at the top? This could be the eventual result of this crash
Where will the free-fall of Bitcoin stop? After a downfall on November 14th, BTC/USD had a bad day on Monday that became worse today. At least it’s doing better than Bitcoin Cash, which crashed 40% in 24 hours. What are the levels to watch? The Technical Confluence Indicator shows that initial resistance awaits at $4,448 which is the … “Will Ripple surpass Bitcoin at the top? This could be the eventual result of this crash”
Pound Drops on Brexit and Political Jitters Amid BoE Speeches
The British pound today declined slightly against the US dollar even as Brexit jitters continued to weigh down the cable. The pound was further affected by the DUP’s resistance to the current Brexit deal given that Theresa May needs the 10 votes from DUP members led by Arlene Foster in order to have a majority … “Pound Drops on Brexit and Political Jitters Amid BoE Speeches”
Aussie Declines Following Release of RBA Minutes, IMF Forecast
The Australian dollar declined today after the Reserve Bank of Australia released minutes of its latest policy meeting. The release was unlikely the cause of the decline, though, as the central bank retained its neutral stance. The more likely reason for the drop was the risk-off sentiment on markets. By now, the Aussie managed to trim losses. The RBA released minutes of its November meeting, at which policy makers kept the main interest rate unchanged at 1.5%. The central … “Aussie Declines Following Release of RBA Minutes, IMF Forecast”
GBP/USD is not as stable as it seems
GBP/USD is looking relatively stable for a change, just like Prime Minister Theresa May that does not suffer a broad rebellion just yet. However, the currency pair faces more upside resistance than support. The Technical Confluences Indicator is currently struggling with a dense cluster of technical lines around 1.2860. This includes the Simple Moving average 100-15m, the SMA 10-15m, … “GBP/USD is not as stable as it seems”
US Dollar Dips on Wall Street Bears, Economic Data
The US dollar is declining to kick off the trading week as Wall Street bears and disappointing economic data sent the currency lower. Despite the greenback enduring its biggest decline in two weeks, the dollar is still performing quite well as the year comes to an end. Citigroup analysts published a report on Monday that forecast a weaker dollar in 2019, stemming from sluggish economic growth and rising interest rates beginning to hurt the economy. … “US Dollar Dips on Wall Street Bears, Economic Data”
NZ Dollar Drops Despite Better-Than-Expected PPI
The New Zealand dollar dropped today even though domestic macroeconomic data released overnight beat expectations. Statistics New Zealand reported that Producer Price Index increased in the September quarter from the previous three months. The input PPI rose 1.4% and the output PPI rose 1.5%. That is compared to the forecast of 0.8% and 0.9% respectively. NZD/USD declined from 0.6864 to 0.6847 as of 15:33 GMT today. NZD/JPY slumped from … “NZ Dollar Drops Despite Better-Than-Expected PPI”