The euro today declined significantly against the US dollar as the US 10-year Treasury yields hit a 7-year high and investors reacted to the prospect of lower global economic growth. The tensions between Italy and the European Union regarding the latter’s budget plans also dragged the pair lower. The EUR/USD currency pair today dropped from a high … “Euro Drops on High US Yields and Italy Budget Plans, Later Rebounds”
Author: admin_mm
Chinese Yuan Rebounds After State Stimulus Injection
The Chinese yuan is rebounding against a basket of currencies on Tuesday after the federal government injected tens of billions of dollars into the national economy. Despite bearish forecasts and tumbling Asian stocks, the currency has strengthened, but it is still near a multi-year low. Beijing reduced the amount of cash that financial institutions are … “Chinese Yuan Rebounds After State Stimulus Injection”
Pound Drops on Brexit Fears & Negative Data, Bounces Later
The Great Britain pound behaved similarly to the Australian dollar and several other currencies, falling intraday but rising later. Negative macroeconomic data was likely responsible for the initial drop, though the Brexit fears also likely played a role. British Retail Consortium reported that like-for-like retail sales fell 0.2% in September from a year ago. The decline followed the increase at the same 0.2% in the previous month. Helen Dickinson OBE, Chief … “Pound Drops on Brexit Fears & Negative Data, Bounces Later”
Australian Dollar Bounces Despite Risk Aversion
The Australian dollar was down intraday but bounced later, rising above the opening level against some of its rivals. The business confidence reported by the National Australia Bank rose from +5 to +6 in September, staying around the long-run average. The NAB business conditions edged up from +14 to +15, stabilizing after the decline earlier this year. Alan Oster, NAB Group Chief Economist, explained the increase: The rise in the month … “Australian Dollar Bounces Despite Risk Aversion”
Pound Retreats as Brexit Optimism Wanes
The Great Britain pound declined today as optimism about a trade deal between the United Kingdom and the European Union started to wane. Earlier, the sterling was strong on the signs that the Brexit deal is near. But the recent reports put a damper on such hopes. Prime minister’s spokesman said: It is worth me pointing out that thereâs a difference between people talking optimistically about a deal and a deal, including both … “Pound Retreats as Brexit Optimism Wanes”
Euro Declines on Italyâs Defiance to the EU Amid Trade War Fears
The euro today fell to new 6-week lows against the US dollar as investors remained concerned about Italy’s defiance towards the EU’s budget demands. The risk-off sentiment in the market further contributed to the EUR/USD currency pair’s decline as trade war fears dominated the markets on a data-light Monday. The EUR/USD currency pair today dropped … “Euro Declines on Italyâs Defiance to the EU Amid Trade War Fears”
Australian Dollar Mixed, Fundamentals Don’t Help to Find Direction
The Australian dollar was mixed today, trading basically flat against its US counterpart, rising against the euro, but falling versus the Japanese yen. Fundamentals, which were mixed themselves, did not help the currency to find a direction. The People’s Bank of China announced that it is cutting the reserve ratio requirements for most commercial banks by 1%. While it helped to mitigate the impact of the falling Chinese stocks on the Forex … “Australian Dollar Mixed, Fundamentals Don’t Help to Find Direction”
All roads lead to Rome: Why is Italy on everyone’s mind?
This time it’s not because of Juventus or the largest pizza in the world. Rather, it’s the Italian budget and its potential impact on the European Union and the Euro. Not too long ago, Greece was on the financial precipice. Amongst Greece’s problems were sky-high interest rates, low GDP, years of deficits, poor productivity, and … “All roads lead to Rome: Why is Italy on everyone’s mind?”
USD: NFP: Consistent With A Gradually Accelerating Inflationary Pressure – CIBC
The US Non-Farm Payrolls missed expectations with only 134K but other figures were more nuanced. What does it mean? Here is their view, courtesy of eFXdata: CIBC Research discusses the reaction to today’s US jobs report for the month of September. “Expectations had been raised by positive ADP and ISM surveys during the week, and … “USD: NFP: Consistent With A Gradually Accelerating Inflationary Pressure – CIBC”
Positive Macroeconomic Data Helps US Dollar End Week Strong
The US dollar ended the week as one of the strongest currencies on the Forex market, though the Great Britain pound outperformed the greenback. The Canadian dollar was also strong, while other commodity currencies were weak. The US currency was firm thanks for the most part to solid domestic macroeconomic data and rising Treasury yields. Mixed nonfarm payrolls hurt the greenback to some degree by the end of the week, but the currency remained strong overall. The US … “Positive Macroeconomic Data Helps US Dollar End Week Strong”