The British pound today rallied higher against the US dollar following the release of the latest UK retail sales data in the early European session, which beat expectations. The GBP/USD currency pair hit new 2-month highs following today’s releases and the weaker US dollar, but remains susceptible to Brexit headlines. The GBP/USD currency pair today … “Pound Rallies on Upbeat UK Retail Sales and Weak US Dollar”
Author: admin_mm
Chinese Yuan Strengthens Despite Economic Warnings at WEF
The Chinese yuan is strengthening midweek against its American counterpart, despite warnings from officials about the national economy. The Chinese economy was a key subject of discussion at this yearâs annual World Economic Forum (WEF) in Tianjin. This comes as the worldâs two largest economies slapped tariffs on both of their exports on Tuesday. Speaking … “Chinese Yuan Strengthens Despite Economic Warnings at WEF”
Euro Fails to Hold On to Gains on Resurgent US Dollar Demand
The euro today rallied to new highs in the early European session even as German bond yields hit new tops and the US dollar retreated. However, the EUR/USD currency pair proceeded to give up all its gains as the greenback rebounded amid rising US bond yields and Irish border concerns. The EUR/USD currency pair today … “Euro Fails to Hold On to Gains on Resurgent US Dollar Demand”
Pound Rallies on Upbeat UK Inflation Data, Declines on Brexit News
The Sterling pound today rallied higher against the US dollar following the release of the latest UK inflation data, which beat expectations by a huge margin. The GBP/USD currency pair today rallied to new six-week highs following the positive releases, but later dropped to new lows due to negative Brexit headlines. The GBP/USD currency pair … “Pound Rallies on Upbeat UK Inflation Data, Declines on Brexit News”
Joseph Trevisani joins FXStreet as Senior Analyst to bolster its US coverage
Barcelona, September 19th, 2018 – FXStreet announces that it has hired Joseph Trevisani as Senior Analyst. Joseph Trevisani joins the currency information website FXStreet to provide commentary and analysis for the global financial markets. Francesc Riverola, Founder and President of FXStreet, has expressed his enthusiasm about this new hire: “I’ve known Joseph for so many … “Joseph Trevisani joins FXStreet as Senior Analyst to bolster its US coverage”
Japanese Yen Remains Soft After BoJ, Trade Balance
The Japanese yen remained broadly weaker against its most-traded rivals. While domestic releases were unfavorable to the currency, the major reason for the yen’s weakness was the market sentiment that favored riskier currencies, not safer ones. The Bank of Japan delivered no surprises at today’s policy meeting, leaving the main interest rate at -0.1% and the target yield for 10-year Japanese government bonds at around 0%. The size of annual asset purchases remained … “Japanese Yen Remains Soft After BoJ, Trade Balance”
Positive Market Sentiment Allows Aussie to Ignore Economic Data
The Australian dollar rallied today despite lackluster macroeconomic data. The currency got support from the positive market sentiment that ignored the latest developments in the US-China trade war. The six month annualized growth rate in the WestpacâMelbourne Institute Leading Index fell from 0.5% in July to -0.02% in August. Yet the Aussie rallied as the markets continued to ignore the escalation of US-China trade tensions. In addition, the traders’ mood improved further after Chinese Premier … “Positive Market Sentiment Allows Aussie to Ignore Economic Data”
NZ Dollar Rallies on Positive Sentiment, Dismisses Underwhelming Data
Macroeconomic data released in New Zealand today was unfavorable to the New Zealand dollar. Yet the currency managed to rise nonetheless, likely boosted by the same positive sentiment that helped its Australian counterpart. The Westpac Consumer Confidence Index dropped from 108.6 in the June quarter to 103.5 in the September quarter, reaching the lowest level in six years. The current account turned from the surplus of NZ$0.09 billion to a deficit of NZ$1.62 billion in the June quarter … “NZ Dollar Rallies on Positive Sentiment, Dismisses Underwhelming Data”
No Demand for Safe Haven, Yen Retreats Ahead of BoJ Meeting
The Japanese yen was weak today ahead of tomorrow’s policy meeting as markets largely ignored escalating trade tensions between the United States and China, lowering demand for the currency as a safe haven. The USA confirmed that it is going to slap new tariffs on Chinese goods equal to $200 billion of worth. As was expected, China announced a retaliatory tariffs on US goods. While risk aversion surged after the announcement, markets quickly … “No Demand for Safe Haven, Yen Retreats Ahead of BoJ Meeting”
Aussie Bounces After Initial Decline Caused by RBA Minutes & Economic Data
The Australian dollar dipped initially today following the release of central bank’s monetary policy minutes and poor macroeconomic data. Yet the currency has bounced by now after markets had calmed, largely ignoring US tariffs on Chinese goods. The Reserve Bank of Australia released minutes of its September policy meeting today. The notes did not provide any significant new insights. They reiterated that an interest rate hike is … “Aussie Bounces After Initial Decline Caused by RBA Minutes & Economic Data”