The euro today rallied to new 2-week highs against the US dollar following the results of the US midterm elections, which led to a split congress as had been predicted by most pundits. The euro was further boosted by positive macro releases from across the euro area such as the German industrial production data for … “Euro Rallies Against US Dollar on Split US Midterm Election Results”
Author: admin_mm
Australian Dollar Bounces Despite Contracting Construction Sector
The Australian dollar behaved in a fashion similar to its New Zealand counterpart, falling intraday but rebounding later. Unlike the New Zealand dollar, though, the Aussie did not have support of positive macroeconomic data. The only indicator released in Australia overnight, Australian Industry Group/Housing Industry Association Australian Performance of Construction Index, demonstrated a drop from 49.3 in September to 46.4 in October. The index, being below the neutral 50.0 level, indicated … “Australian Dollar Bounces Despite Contracting Construction Sector”
NZ Dollar Jumps After Employment Data Beats Expectations
The New Zealand dollar jumped against all of its most-traded rivals today as employment data released in New Zealand overnight came out much better than was expected. Statistics New Zealand reported that the unemployment rate dropped to 3.9% in the September quarter from 4.4% in the previous three months, whereas experts had predicted it to stay unchanged. Employment rose 1.1%, more than two times the forecast increase … “NZ Dollar Jumps After Employment Data Beats Expectations”
Chinese Yuan Strengthens on Xiâs Tepid Reform Pledges
The Chinese yuan is posting modest gains against its US counterpart on Tuesday after President Xi Jinping pledged modest economic reforms. But the currencyâs boost was capped by investorsâ doubt that a trade agreement between the worldâs two largest economies is imminent. This week, Xi delivered a 30-minute speech at the China International Import Expo, where he continued to say that Beijing was opening … “Chinese Yuan Strengthens on Xiâs Tepid Reform Pledges”
Euro Trades Flat Despite Upbeat PMI Data Ahead of US Midterm Elections
The euro today largely traded sideways against the US dollar alternating between gains and losses as markets awaited the results of today’s US midterm elections. The euro failed to rally significantly following the release of several positive PMI prints from across the euro area by Markit Economics, instead, it headed lower driven by negative sentiment. The … “Euro Trades Flat Despite Upbeat PMI Data Ahead of US Midterm Elections”
Canadian Dollar Sideways Amid Lower Crude Prices, BOC Comments
The Canadian dollar was unable to keep the momentum from last weekâs strong jobs report, and the loonie could not get a boost on Monday on bullish comments from the head of the Bank of Canada (BOC). Investors might find direction in the results of Tuesdayâs US midterm elections, as well as some American and Canadian economic data this week. Speaking to a business audience in London on Monday, BOC Governor Stephen Poloz defended the central bankâs optimistic … “Canadian Dollar Sideways Amid Lower Crude Prices, BOC Comments”
Will a Brexit deal steal the thunder from the US elections? GBP/USD levels to watch
There are growing signs that a Brexit deal is very close and come as early as Tuesday. A deal can steal the spotlight from the US Mid-Terms. The GBP/USD is not pricing in such an outcome and could shoot higher. The Sunday Times reported that preparations for a deal are “far more advanced than previously … “Will a Brexit deal steal the thunder from the US elections? GBP/USD levels to watch”
Euro Pares Losses Despite ECB Reports, Eurozone Data
The euro is trading higher at the end of the Friday trading session, paring earlier losses that sent the currency lower by as much as 0.3%. The euro took a hit when it was reported the central bank might be considering long-term bank loans, and it is still reeling from the disappointing economic data. According to several reports, the heads of the European Central Bank (ECB) is thinking about another long-term refinancing operation … “Euro Pares Losses Despite ECB Reports, Eurozone Data”
Bitcoin wedge is closing – time for a breakout?
The BTC/USD moved slightly to the downside but remains entrenched in a range. The technical picture is balanced due to the lack of movement. The FX Poll of experts shows a bearish bias at first but things get better with time. The price of Bitcoin remains entrenched in a range. Bears made an attempt to … “Bitcoin wedge is closing – time for a breakout?”
USD/CAD Rallies on Weak Canadian Jobs Data and Upbeat US NFP Report
The USD/CAD currency pair today rallied from fresh weekly lows to new daily highs in the early American session following the release of the latest Canadian jobs data. The pair’s rally was further boosted by the release of the upbeat US non-farm payrolls report, which triggered a massive rally by the greenback against most of its peers. The USD/CAD currency pair today rallied from a low of 1.3044 to a high of 1.3109 following the jobs’ reports from … “USD/CAD Rallies on Weak Canadian Jobs Data and Upbeat US NFP Report”