Canada’s first jobs report after the USMCA is expected to be moderate. The BOC will likely remain on track for a hike early in 2019. The Canadian Dollar has room to rise, but other factors are in play as well. Canada publishes its employment report for October on Friday, November 2nd, at 13:30 GMT. This … “Canadian Dollar well-positioned for the jobs report, but watch the NFP as well”
Author: admin_mm
Chinese Yuan Weakens As Economists Cut GDP Estimates
The Chinese yuan is weakening on Tuesday after economists slashed their gross domestic product (GDP) estimates amid the escalating trade war with the US. The yuanâs declines were capped on stimulus measures employed by Beijing to spur growth and limit the trade warâs effects on the economy. According to a survey of economists by Bloomberg, the GDP for the worldâs second-largest economy is expected to increase by 6.4% on a year-over-year basis in the fourth-quarter of 2018. The economists also anticipate a 6.3% … “Chinese Yuan Weakens As Economists Cut GDP Estimates”
Euro Falls on Weak Eurozone GDP Growth Data, Later Recovers
The euro today fell to new lows against the US dollar following the release of disappointing GDP growth data from across the eurozone. The pair later recovered slightly during the early American session as investors awaited US consumer data. The EUR/USD currency pair today dropped from a high of 1.1387 to a low of 1.1344 … “Euro Falls on Weak Eurozone GDP Growth Data, Later Recovers”
USD could falter as Democrats consolidate their lead in House polls
The US Mid-Term Elections are heating up with one week to go. House polls show Democrats are consolidating their gains. The US Dollar could be negatively affected. The US Mid-Term Elections are on November 6th, just one week to go. The scene is heating up with President Donald Trump trying to focus the attention on … “USD could falter as Democrats consolidate their lead in House polls”
This Italian GDP could move the Euro quite a bit
This Italian GDP release could have a significant impact on the on the Euro. Without better numbers, the clash on the budget will likely continue. Italy is the euro zone’s third-largest economy, and its economic figures rarely move the Euro. But the preliminary publication for Q3 2018, due on October 30th, will be different. Very … “This Italian GDP could move the Euro quite a bit”
Pound Trades Sideways on BoE Credit Data Ahead of Budget Speech
The British pound today traded in a tight range against the US dollar on the latest BoE credit data even as investors await the autumn UK budget speech later today. The pound’s slight rally was supported by the improved risk sentiment among investors, which supported the cable and prevented it from falling further. The GBP/USD … “Pound Trades Sideways on BoE Credit Data Ahead of Budget Speech”
Canadian Dollar Weakens As BOC Rate Hike Buzz Fades
The Canadian dollar is trading slightly lower on Monday as the buzz from the Bank of Canada (BOC)âs recent increase to interest rates has ostensibly faded. Investors will comb through various reports and forecasts pertaining to the national economy in both the short- and long-term until important data is published. It did not help with energy prices tumbling to start the trading week. Last week, the central bank raised rates by 25 … “Canadian Dollar Weakens As BOC Rate Hike Buzz Fades”
Euro Mixed After Announcement from Angela Merkel
The euro was mixed today after German Chancellor Angela Merkel announced that she will not seek re-election as her party’s leader. Markets were not particularly pleased with the announcement. Merkel announced that she will not run for the seat of the chief of her Christian Democratic Union or for any other political office for that matter. This decision was likely a result of the poor performance of the governing coalition in the regional … “Euro Mixed After Announcement from Angela Merkel”
Chinese Yuan Sideways on GDP Q3 Forecast, Weakening Auto Sales
The Chinese yuan is struggling to find direction at the end of the trading week as investors comb through mixed economic reports. Because of the string of tariffs imposed on China, the worldâs second-largest economy continues to experience the worst, including many of the nationâs sectors. And this, researchers say, could send its gross domestic product (GDP) lower. According to the China Association of Automobile Manufacturers (CAAM), wholesale deliveries of passenger vehicles tumbled 7.7% year-on-year in the third … “Chinese Yuan Sideways on GDP Q3 Forecast, Weakening Auto Sales”
Euro Heads Lower After Turbulent Week, Recovers on US GDP Data
The euro today broke out of a consolidative phase against the US dollar in the early European session as concerns regarding Italy and the global equity markets selloff weighed on the single currency. The EUR/USD currency pair later found a floor just before the release of the latest US GDP growth data in the early American session … “Euro Heads Lower After Turbulent Week, Recovers on US GDP Data”