US GDP grew by 3.5% annualized in Q3, above expectations and this followed an excellent Q2. The US Dollar ticked up at first but is now retreating. There are three reasons for the disappointing reaction. The US economy grew by 3.5% annualized in the third quarter, above 3.3% expected. This is the second consecutive quarter … “3 reasons why the US Dollar fell despite upbeat GDP”
Author: admin_mm
US Dollar Surges Amid Mixed Economic Data
The US dollar is rallying against a basket of currencies on Thursday after the release of a mixed bag of economic data. The greenback has been trading higher over the last few trading sessions, helping the currency add to its impressive year-to-date gains. Last month, orders for durable goods rose 0.8%, the third increase in the last four months, driven by orders for defense goods and transportation. The market did anticipate a 1.9% decline after there … “US Dollar Surges Amid Mixed Economic Data”
Japanese Yen Gives Away Gains Caused by Decline of Asian Stocks
The Japanese yen rallied intraday amid risk aversion caused by sell-off of Asian stocks. But the currency retreated later after most of European and US equities logged big gains. Asian stocks showed big losses today, with Japanese Nikkei 225 losing more than 3% of its value. The market sentiment worsened because of that but recovered as most of the European and US equities gained by more than 1%. As for macroeconomic … “Japanese Yen Gives Away Gains Caused by Decline of Asian Stocks”
NZ Dollar Mixed After Trade Balance Deficit Reaches Record High
The New Zealand dollar was mixed today after falling intraday as the monthly trade balance deficit reached the highest level on record. But the bounce of global stocks supported riskier commodity currencies. Statistics New Zealand reported that the trade deficit widened from NZ$1.47 billion in August to the record high of NZ$1.56 billion. Experts had predicted a decrease to NZ$1.37 billion. NZD/USD traded at the opening of 0.6520 as of 16:37 GMT today after … “NZ Dollar Mixed After Trade Balance Deficit Reaches Record High”
Brexit can be kicked down the road in a classic EU fudge
Brexit negotiations remain stuck, four months ahead of Brexit Day. Postponing the decision is becoming a viable option. The Pound could rise in case a hard Brexit is averted. The European Union and the United Kingdom have made significant progress on a wide range of issues in the Brexit negotiations. However, the question of keeping … “Brexit can be kicked down the road in a classic EU fudge”
Draghi does not rock the boat, EUR/USD at the mercy of markets
The ECB’s Draghi drew a balanced picture of the economic situation. He was slightly more positive than negative, supporting the Euro. The next moves depend on Italy, stocks, and other events. The European Central Bank left its policy unchanged as broadly expected. ECB President ECB described risks as broadly balanced. He maintained his slightly positive stance, keeping the Euro … “Draghi does not rock the boat, EUR/USD at the mercy of markets”
Euro Rallies From Trading Range After ECB Decision, Later Declines
The euro today broke out of the range it was trading in for the earlier part of the session after the European Central Bank announced its monetary policy decision. The EUR/USD currency pair rallied higher after the ECB announcement where it maintained its current monetary policy direction as was expected. The EUR/USD currency pair today … “Euro Rallies From Trading Range After ECB Decision, Later Declines”
Trump wants fewer hikes and could get more – USD set to get more support
President Trump continues upping the ante against the Fed’s policy and his pick for Chair. The central bank is set to defend its independence and has less room for flexibility. The US Dollar could benefit, and Trump’s efforts on trade could suffer. US President Donald Trump criticizes the Federal Reserve each time the stock markets … “Trump wants fewer hikes and could get more – USD set to get more support”
Chinese Yuan Weakens Despite Increased State Support
The Chinese yuan is weakening against its US counterpart midweek, despite increased state support that should give the currency a boost. The federal government has announced a series of measures aimed at spurring economic growth as the worldâs second-largest economy weathers the global trade storm, something that analysts contend will exacerbate next year. This week, Beijing announced a round of tax cuts that would be the equivalent of 1% … “Chinese Yuan Weakens Despite Increased State Support”
Loonie Rallies After Bank of Canada Rate Hike
The Canadian dollar today rallied to new highs against most of its peers including the US dollar after the Bank of Canada announced its interest rate decision in the early American session. The loonie’s rally was further boosted by the hawkish tone in the bank’s monetary policy statement, which investors interpreted as hinting at more rate … “Loonie Rallies After Bank of Canada Rate Hike”