The Japanese yen was strong today. It is unlikely that today’s Japanese domestic macroeconomic data, which was mixed, played role in that. Some market analysts speculated that the currency rallied because risk appetite caused by the trade deal between the United States, Mexico, and Canada faded. That could also explain the weakness of the commodity currencies. As for Japan’s economic reports, the monetary base increased by 5.9% in September, year-on-year, … “Japanese Yen Strong as Risk Appetite Caused by USMCA Fades”
Author: admin_mm
Australian Dollar Tumbles After RBA Stands Pat
The Australian dollar dropped following the monetary policy decision of the Reserve Bank of Australia, even though the central bank did not make changes to its monetary policy and the statement was neutral. As was widely expected, the RBA left its main interest rate at 1.5%. The policy statement was little changed from the previous one. Overall, the central bank continued to demonstrate that it is in no rush to start raising rates. … “Australian Dollar Tumbles After RBA Stands Pat”
The Flip Side of the Crypto Ideals
There are several distinct groups who all want different things from the cryptocurrency phenomenon that eventually replaces fiat money, and they are all in opposition. The nature of Bitcoin and Blockchain is something of a dual personality, and almost everyone wants the best bits for them. They are a few basic tenets of the original … “The Flip Side of the Crypto Ideals”
Mexican Peso Rallies on New USMCA Trade Deal After Strong Q3 Performance
The Mexican peso is rallying on Monday after the US, Canada, and Mexico announced a new trilateral trade agreement called the USMCA, abandoning the North American Free Trade Agreement (NAFTA) term. The pesoâs strong performance to kick off the trading week comes after recording an admirable third-quarter performance among emerging-market currencies. Hours before the key US-imposed October 1 deadline, the three nations announced a new trade pact that will … “Mexican Peso Rallies on New USMCA Trade Deal After Strong Q3 Performance”
Great Britain Pound Up After Brexit News
The Great Britain pound gained on its most-traded rivals today on the reports that the United Kingdom is willing to compromise to reach a trade deal with the European Union. The currency has trimmed its gains by now but was trading above the opening level against most peers, though retreated to the opening level versus the US dollar. According to reports, Britain is willing to keep borders between Northern Ireland and the Irish Republic … “Great Britain Pound Up After Brexit News”
Aussie Little Changed Following Mixed Macroeconomic Data
The Australian dollar was mostly flat against its most-traded rivals today following macroeconomic releases. While domestic data was largely positive, reports released from China, Australia’s biggest trading partner, over the weekend were mixed. China’s official manufacturing Purchasing Mangers’ Index fell to 50.8 in September from 51.3 in August, missing the consensus estimate of 51.2 and touching the lowest level since February. The Caixin China Manufacturing … “Aussie Little Changed Following Mixed Macroeconomic Data”
Canadian Dollar levels to watch after the USMCA
A new NAFTA is born and renamed as USMCA. The USD/CAD dropped to a four-month low on the relief. The pair has room to fall, at least until the bottom of the downtrend channel. In last-minute late-night talks, Canada and the United States reached an agreement on a new version of the North American Free … “Canadian Dollar levels to watch after the USMCA”
CAD Moves Sharply Higher After Canada Joins Trade Deal with USA & Mexico
The Canadian dollar rose sharply today after the news that Canada will join the trade agreement with the United States and Mexico after all. The currency opened sharply higher and proceeded to move up. Just when it looked like Canada will be left out of the US-Mexico trade agreement, politicians managed to find a consensus. The new United States-Mexico-Canada Agreement will replace the old North American Trade Agreement. Under … “CAD Moves Sharply Higher After Canada Joins Trade Deal with USA & Mexico”
US Dollar Ends Week Strong After Fed Interest Rate Hike
The US dollar ended the trading week strong thanks to the hawkish policy statement of the Federal Reserve. But the strongest currency was the Canadian dollar due to the better-than expected economic growth. The euro was weak, dragged down by the Italian budget. The Fed raised its main interest rates by 25 basis points to 2%-2.25% as was largely expected. While initially the market could not decide how to interpret the policy statement, leading to volatile … “US Dollar Ends Week Strong After Fed Interest Rate Hike”
Chinese Yuan Gains Amid Bearish Economic Forecasts
The Chinese yuan is gaining at the end of the trading week despite several bearish forecasts pertaining to the short-term outlook of the national economy and the currency. This comes one day after the yuan extended its losing streak to six months, the longest in 26 years, after shedding 4% against the greenback in the third quarter. On Sunday, the Caixin Purchasing Mangersâ Index (PMI) for the nationâs manufacturing sector will be released and the market is anticipating it … “Chinese Yuan Gains Amid Bearish Economic Forecasts”