The Swiss franc climbed today, joining the Japanese yen in a rally, as risk aversion returned to markets. That brought safe currencies back in favor of market participants. The Asian stock market crashed today, and European stocks did not perform well too. That was a result of the risk-negative sentiment among investors. There were plenty of reasons for traders to be concerned, including the trade disputes between the United States and China, the clash between … “Swiss Franc Gains as Safe Currencies Back in Favor”
Author: admin_mm
Pound Opens Sharply Lower on Negative Brexit News
The Great Britain pound opened sharply lower today on negative Brexit news. Currently, the sterling is trying to crawl back to the Friday’s close. The backstop of the Irish border remained an unresolved issue between the United Kingdom and the European Union. EU chief Brexit negotiator Michel Barnier twitted yesterday: We met today @DominicRaab and UK negotiating team. Despite intense efforts, some key issues are still open, including … “Pound Opens Sharply Lower on Negative Brexit News”
US Dollar Ends Turbulent Week Soft
The stock market crashed this week and the US dollar followed. While the greenback recovered somewhat by the weekend, the US currency ended the week among losers. US President Donald Trump criticized the Federal Reserve for raising interest rates, saying that there is no inflationary pressure to warrant such actions. Market analysts considered Trump’s comments one of the major reasons for the dollar’s decline. Macroeconomic data seemed to support Trump’s claims … “US Dollar Ends Turbulent Week Soft”
Euro Declines on Flat German Inflation Amid US Dollar Rebound
The euro today dropped from 2-week highs against the US dollar as the greenback rallied higher from the early European session to recoup most of yesterday’s losses. The EUR/USD currency pair rallied slightly after the release of positive German inflation data, but could not sustain its rally due to the resurgent greenback. The EUR/USD currency … “Euro Declines on Flat German Inflation Amid US Dollar Rebound”
US Dollar Halts Decline as Stocks Sell-Off Pauses
The US dollar rallied today against most of its major peers, breaking the three-day long streak of losses. The greenback has lost its gains against the Japanese yen by now but kept them against other rivals. The US Dollar Index rose 0.25% today. Market analysts explained the rally by the rise of global stocks. US stocks demonstrated particularly big gains, with the S&P 500 Index and the NASDAQ Composite Index … “US Dollar Halts Decline as Stocks Sell-Off Pauses”
Chinese Yuan Still Lower on Reports US Will Not Label China âCurrency Manipulator’
The Chinese yuan is still trading lower on Friday, despite reports that the US Treasury Department will not label the worldâs second-largest economy a âcurrency manipulator.â The positive news was offset by an International Monetary Fund (IMF) forecast that lowers the nationâs economic growth over the next two years amid the US-China trade spat. For months, the US government has said that it is working with other G7 … “Chinese Yuan Still Lower on Reports US Will Not Label China âCurrency Manipulator’”
Japanese Yen Traders Near Opening After Falling Earlier
The Japanese yen fell intraday but as many other currencies was trading near its opening level later. Domestic macroeconomic data was mixed, giving the currency no reason to go one way or the other. The M2 money supply increased by 2.8% in September from a year ago, while analysts had expected the same 2.9% rate of growth as in the previous month. The seasonally adjusted Indices of Tertiary Industry Activity rose 0.5% … “Japanese Yen Traders Near Opening After Falling Earlier”
NZ Dollar Rallies Intraday, Trims Gains Later
The New Zealand dollar rose today, though the currency has trimmed its gains by now, losing them outright against some rivals. The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell to 51.7 in September from 52.0 in August. The report commented on the result: New Zealand’s manufacturing sector remained within a tight and low level of expansion for September. Unlike many other Asian currencies, New Zealand did not get … “NZ Dollar Rallies Intraday, Trims Gains Later”
Australian Dollar Shows Resilience in Face of Adverse Fundamentals
The Australian dollar managed to hold its ground, trading near the opening level against its major peers, despite fundamentals that were rather unfavorable to the currency today. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans dropped by 2.1% in August from July. Analysts had expected a smaller drop by 0.9%. Yesterday, the International Monetary Fund downgraded the growth outlook in 2019 for Asia in general and Australia and China, … “Australian Dollar Shows Resilience in Face of Adverse Fundamentals”
USD: US CPI: Another Soft Month For Prices; Moderately Negative For USD – CIBC
US inflation is not going anywhere fast. What’s next? What does this mean for the US Dollar? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today’s US CPI print for the month of September. “Today’s CPI report showed that September was another soft month for prices, with both headline and … “USD: US CPI: Another Soft Month For Prices; Moderately Negative For USD – CIBC”