The Sterling pound today traded lower against the US dollar as markets awaited the crucial meeting between the British PM Theresa May and her cabinet to approve the draft Brexit deal. The pound declined further following the release of weak UK consumer price index report in the early London session, which further soured investor sentiment … “Pound Falls on UK Political Uncertainty Amid Weak Inflation Data”
Author: admin_mm
Euro Falls on Weak German GDP Growth as Italian Crisis Persists
The euro today fell significantly against the US dollar following the release of weak German GDP growth data in the early European session. The single currency’s decline was further accelerated by the risk-off market sentiment as investors waited for the resolution of the ongoing Italian budget crisis. The EUR/USD currency pair today fell from an … “Euro Falls on Weak German GDP Growth as Italian Crisis Persists”
Aussie Reacts Negatively to China’s Disappointing Retail Sales
The Australian dollar attempted to rally during the Wednesday’s trading session but fell later. Some market analysts attributed the decline to the worse-than-expected retail sales in China. China’s macroeconomic data often has strong impact on the Australian currency because China is Australia’s biggest trading partner. Economic reports released in Australia itself over the current session were good. The National Bureau of Statistics of China released a range of macroeconomic indicators today. … “Aussie Reacts Negatively to China’s Disappointing Retail Sales”
Yen Drops on Slowing Economic Growth, Trims Losses Later
The Japanese yen dropped intraday as most macroeconomic reports released in Japan today were disappointing. By now, though, the currency has trimmed its losses, erasing them against some rivals outright. Japan’s gross domestic product fell 0.3% in the third quarter of this year from the previous three months. The drop followed the 0.8% increase registered in the preceding quarter. The GDP Deflator dropped 0.3% year-on-year after showing no change … “Yen Drops on Slowing Economic Growth, Trims Losses Later”
Canadian Dollar Struggles to Find Direction Amid Crashing Crude Prices
The Canadian dollar is trading relatively sideways on Tuesday as the price of crude oil crashes. The loonie, which slipped to a four-month low early in the trading day, is attempting to snap its four-session losing streak. Without any major Canadian events, investors may not have an appetite for the currency. On Tuesday, crude oil prices crashed to their lowest levels since the start of December, tumbling more than 6%. The plunge comes as President … “Canadian Dollar Struggles to Find Direction Amid Crashing Crude Prices”
Euro Rallies Higher on Positive Sentiment Amid Italyâs Defiance
The euro today rallied higher against the US dollar driven by positive market sentiment backed by investors’ expectations of a future US-China trade deal. However, the single currency’s rally was significantly hampered by the ongoing standoff between the EU and Italy regarding its 2019 budget plans. The EUR/USD currency pair today rallied from a low of 1.1219 to a high of 1.1271 in the early American session. The currency pair’s initial rally was largely supported … “Euro Rallies Higher on Positive Sentiment Amid Italyâs Defiance”
Pound Rallies on Brexit Hopes, Declines on Mixed UK Jobs Data
The British pound today rallied higher and recovered from a 3-day losing streak as investors hoped for a breakthrough in Brexit negotiations. However, the lack of any tangible progress in the Brexit proceedings and the mixed UK jobs report released today stalled the cable’s rally. The GBP/USD currency pair today rallied from an opening low … “Pound Rallies on Brexit Hopes, Declines on Mixed UK Jobs Data”
Canadian Dollar could make a comeback even though oil is falling
USD/CAD extended its rise as oil prices dropped. The C$ sell-off is sharp, with CAD entering oversold conditions, The overbought conditions on USD/CAD can send it to uptrend support. The Canadian Dollar continues suffering from the drop in oil prices. The price of petrol enjoyed some respite on Monday on reports that Saudi Arabia is willing … “Canadian Dollar could make a comeback even though oil is falling”
Chinese Yuan Weakens to 10-Year Low As Economy Holds Steady
The Chinese yuan weakened to a 10-year low against its US counterpart as the national economy held steady in October. It is evident that President Donald Trumpâs trade war against Beijing continues to have a dire toll on the worldâs second-largest economy. With the trade spat expected to linger into 2019, analysts are warning that … “Chinese Yuan Weakens to 10-Year Low As Economy Holds Steady”
US Dollar Ends Week of FOMC Decision on Strong Footing
The US dollar performed decently over the past trading week but was outperformed by the Australian and New Zealand currencies, which were the strongest on the Forex market during the week. The policy statement from the Federal Open Market Committee provided a moderate boost to the greenback. While the FOMC did not change monetary policy, it signaled that plans for further interest rate hikes remain intact. The Aussie and the kiwi were supported by the rebound … “US Dollar Ends Week of FOMC Decision on Strong Footing”