The Chinese yuan is struggling to find direction on Tuesday as the federal government released economic data that should trouble both officials and investors. Analysts do warn that the currency may get a lift on state stimulus amid the lingering trade dispute between the worldâs two largest economies. Last month, the consumer inflation rate advanced for the fourth straight month, reports the National Bureau of Statistics. Inflation edged up 2.5% year-over-year … “Chinese Yuan Struggles to Find Direction Amid Bearish Economic Data”
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Loonie Jumps as Positive Fundamentals Outweigh Domestic Data
The Canadian dollar gained today as positive factors outweighed domestic macroeconomic data, which failed to meet market expectations. The currency gained for the fourth consecutive trading session against its US counterpart. One of the possible reasons for the loonie’s gains was the positive market sentiment. Another one were stable prices for crude oil. As for economic data, Statistics Canada reported: Foreign investment in Canadian securities slowed to $2.8 billion in August, down … “Loonie Jumps as Positive Fundamentals Outweigh Domestic Data”
US Dollar Mostly Weak but Gains on Safe Currencies
The US dollar was generally weak today as risk appetite made investors seek riskier currencies with higher yield. For the same reason the greenback gained on safe currencies, like the Japanese yen and the Swiss franc. Italy submitted its budget to the European Commission, which will decide whether it is within the European Union spending rules. While the budget remained with a sharp increase of deficit, there were hopes that … “US Dollar Mostly Weak but Gains on Safe Currencies”
Euro Drops and Trades Flat on Weak German Investor Sentiment
The euro today has been alternating between gains and losses against the US dollar from the start of the session due to the risk-off sentiment in the markets. The EUR/USD currency pair dipped to new daily lows after the release of the German ZEW survey data, whose prints came in way below expectations. The EUR/USD … “Euro Drops and Trades Flat on Weak German Investor Sentiment”
What Makes the Dollar Retain Its Dominance?
For as long as just about anyone can remember, the US dollar has been the King of Currencies. American pre-eminence in global economic and political affairs and its unchallenged role as the Leader of the Free World have largely been responsible for the greenback’s standing as the global reserve currency. However, with incremental changes in … “What Makes the Dollar Retain Its Dominance?”
Australian Dollar Flat After RBA Minutes, China’s Inflation Data
The Australian dollar was basically flat against most of its major peers following the release of policy minutes by the Reserve Bank of Australia and inflation data in China, Australiaâs biggest trading partner. The RBA released minutes of its October meeting, which did not provide many new insights. The notes were mostly optimistic, stating that the appreciation of the US dollar, while being generally negative to emerging market economies, was helpful … “Australian Dollar Flat After RBA Minutes, China’s Inflation Data”
Sterling Pound Rallies on Positive Brexit News and UK Jobs Data
The Sterling pound today rallied higher after the release of positive UK jobs data especially the unexpected increase in wages in the three months to August. The GBP/USD currency pair’s rally was initially triggered by comments from Germany’s Europe minister who stated that the likelihood of a Brexit deal was high. The GBP/USD currency pair … “Sterling Pound Rallies on Positive Brexit News and UK Jobs Data”
NZ Dollar Rises as Inflation Accelerates Beyond Expectations
The New Zealand dollar gained today after a report released overnight showed that inflation accelerated last quarter more than was expected. Statistics New Zealand reported that the Consumer Price Index rose 0.9% in the September quarter from the previous three months. That is compared to an increase by 0.7% predicted by analysts and the 0.4% gain registered in the prior quarter. Annual inflation was at 1.9%. NZD/USD gained from 0.6547 … “NZ Dollar Rises as Inflation Accelerates Beyond Expectations”
US Dollar Soft After Retail Sales Miss Expectations
The US dollar opened sharply higher against a range of other most-traded currencies today on the back of risk aversion. Currently, though, the greenback is weak due to retail sales missing expectations and geopolitical tensions. The US Census Bureau reported that retail sales rose just 0.1% in September, while analysts had predicted a much bigger increase by 0.7%. Core retail sales, which exclude volatile auto sales, fell 0.1% … “US Dollar Soft After Retail Sales Miss Expectations”
Canadian Dollar Rises on Business Optimism, Future Rate Hikes
The Canadian dollar is rallying to kick off the trading week, buoyed by growing optimism among the business community. The loonie was lifted even more on increasing odds that the central bank will raise interest rates at least one more time before the year is over. On Monday, the Bank of Canada (BOC) released its quarterly business survey that showed private sector optimism hovered around record levels in the third … “Canadian Dollar Rises on Business Optimism, Future Rate Hikes”