The euro traded lower against most of its major rivals today, though managed to gain on the Great Britain pound, which itself was very soft. The shared 19-nation currency was heading to end week either flat, losing earlier gains, or lower versus its most-traded peers. Some market analysts attributed the euro’s weakness to the boost that the better-than-expected US Producer Price Index provided to the dollar. But the EUR/USD currency … “Euro Soft on Continuing Clash Over Italy’s Budget, Fed’s Hawkish Stance”
Author: admin_mm
US Dollar Strengthens As Inflation Pressures Remain in Check
The US dollar is strengthening at the end of the trading week, buoyed by new economic data that shows inflation pressures remain in check. The greenback further accelerated on a hawkish central bank that is set to raise interest rates next month. The currencyâs gains were capped by retreating Treasury yields. According to the Bureau of Labor Statistics (BLS), US wholesale prices rose 0.6% in October, the largest increase since 2012, higher than … “US Dollar Strengthens As Inflation Pressures Remain in Check”
USD/CAD Extends Rally on US Court Decision and Weak Oil Prices
The USD/CAD currency pair today extended yesterday’s gains as the Canadian dollar dropped against the greenback amid the ongoing as the global crude oil selloff. The pair’s rally was further accelerated by news reports that a US Federal Court had stopped the construction of the Keystone XL pipeline that connects Canadian oilfields to Texas oil pipelines. … “USD/CAD Extends Rally on US Court Decision and Weak Oil Prices”
British Pound Drops on Brexit Uncertainty Amid Latest UK GDP Data
The British pound today declined against the US dollar as investors remained cautious towards the cable given the looming uncertainty over Brexit negotiations. The GBP/USD currency pair’s performance was also affected by the strong greenback as the US Federal Reserve reiterated its resolve to hike rates in December. The GBP/USD currency pair today declined from … “British Pound Drops on Brexit Uncertainty Amid Latest UK GDP Data”
Aussie Falls Despite Improved RBA Economic Outlook, China’s PPI Weighs
The Australian dollar was soft today, falling against the euro and the Japanese yen for the first time after six sessions of gains in a row. Market analysts pointed at China’s slowing producer inflation as the most likely culprit in the currency’s decline. The Reserve Bank of Australia released its Monetary Policy Statement today. The central bank upgraded its economic projections. The outlook for growth of gross domestic product for 2018 was upgraded from 3.25% to 3.5%. … “Aussie Falls Despite Improved RBA Economic Outlook, China’s PPI Weighs”
NZ Dollar Suffers from Slowing Producer Inflation in China
The New Zealand dollar fell against some of its most traded rivals, including the US dollar and the Japanese yen, today. The most likely reason for the losses was the slowing producer inflation in China, New Zealand’s major trading partner. China’s Producer Price Index rose 3.3% in October from a year ago. While the reading was within market expectations, it was slowdown from the September’s 3.6% rate of growth. The Consumer … “NZ Dollar Suffers from Slowing Producer Inflation in China”
Swiss Franc Weakens on Trade War Concerns, Bearish Monetary Policy Forecasts
The Swiss franc is weakening against the greenback on Thursday after the central bank warned that the trade war could rock the currency. A central bank official also encouraged investors to hold tight because a tighter monetary policy is still far away from being realized. That said, officials believe the franc remains highly valued in the global financial markets. If a full-scale trade spat commenced, the Swiss economy would … “Swiss Franc Weakens on Trade War Concerns, Bearish Monetary Policy Forecasts”
EUR/USD Pair Drops From 2-Week Highs Ahead of FOMC Rate Decision
The EUR/USD currency pair today dropped from yesterday’s 2-week highs as investors looked past the results of the US midterm elections triggering a slight recovery by the greenback. The pair’s performance was largely driven by positive investor sentiment towards the greenback, which kept the pair trading in a subdued range. The EUR/USD currency pair today traded in … “EUR/USD Pair Drops From 2-Week Highs Ahead of FOMC Rate Decision”
The Stablecoin Market Continues to Grow
While Tether continues its slide in popularity, you may think that the Stablecoin market would follow suit, but it isn’t doing. The stablecoin trend is growing, and there are newcomers poised to enter with pegs to currencies other than USD. Pegs to USD dominate the stablecoin market. To date, pegging a stablecoin to the US … “The Stablecoin Market Continues to Grow”
Japanese Yen Gains on Hawkish BOJ, Capped by Bearish Forecasts
The Japanese yen is posting a modest rally against its American counterpart midweek as the central bank and the federal government send bullish messages to the market. But the tepid gains were capped by bearish economic data and forecasts. Despite fears of a pending trade war with the worldâs largest economy, the yen has been performing admirably against the greenback in 2018. On Wednesday, the Bank of Japan (BOJ) warned that higher long-term interest rates … “Japanese Yen Gains on Hawkish BOJ, Capped by Bearish Forecasts”