The New Zealand dollar rallied today after the country’s trade balance deficit shrank unexpectedly last month. The currency gained on almost all of its most-traded rivals, though it has pared gains versus the euro by now. Statistic New Zealand reported that the trade balance logged a deficit of NZ$143 million in July. That was a decrease from the June gap of NZ$288 million (revised, NZ$113 million before the revision). Analysts … “NZ Dollar Rallies After Trade Deficit Shrinks”
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Australian Dollar Rallies After Australia Get New Prime Minister
The Australian dollar rallied today after the country’s political crisis was resolved for the time being as Australia got a new leader. As was expected, Malcolm Turnbull did not last long as Prime Minister after winning a vote for staying in the seat just this Monday. By Friday, Treasurer Scott Morrison will replace him in the office, which was considered to be the most market-friendly outcome. That being said, analysts did not … “Australian Dollar Rallies After Australia Get New Prime Minister”
Donald can’t stop the Dollar, even not in USD/JPY
The USD/JPY moved up in range on Trump-related events The second read of US GDP stands out in the last week of August. The technical charts show a balanced picture for the pair. This was the week: Trump vs. the Fed, the former fixer, China Mid-summer was not a quiet time for US President Donald … “Donald can’t stop the Dollar, even not in USD/JPY”
Euro Trades Lower on Mixed Eurozone Data and Strong Dollar
The euro today traded lower against the US dollar despite the release of mixed economic releases from across the eurozone, which should have boosted the single currency. The EUR/USD currency pair was further weighed down by yesterday’s optimistic FOMC minutes, which boosted the greenback. The EUR/USD currency pair today traded in a range between a high … “Euro Trades Lower on Mixed Eurozone Data and Strong Dollar”
Canadian Dollar Hits Two-Week High on NAFTA Talks, Offsets Bad Data
The Canadian dollar is trading at its best level in two weeks against its US counterpart on Thursday. The loonie is rallying on reports that progress is being made in North American Free Trade Agreement (NAFTA) negotiations. This news, which is bullish for the Canadian economy, allowed the loonie to dismiss lower energy prices and recent negative economic data. Mexican officials confirmed that an agreement with the US could … “Canadian Dollar Hits Two-Week High on NAFTA Talks, Offsets Bad Data”
Japanese Yen Soft Despite Accelerating Manufacturing Growth
The Japanese yen fell against some of its most-traded rivals and was flat against others today despite accelerating growth of Japan’s manufacturing sector and political turmoil in various parts of the world. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index rose a bit to 52.5 in August from 52.3 in July. The actual figure was slightly above the forecast value of 52.4. The report commented on the result: August flash data extended the current growth … “Japanese Yen Soft Despite Accelerating Manufacturing Growth”
Australian Dollar Sinks amid Political Turmoil
The Australian dollar dropped today amid political turmoil in Australia, which will likely result in a shift in the country’s leadership. Australia’s Prime Minister Malcolm Turnbull just survived a challenge to his leadership earlier this week. But now the Prime Minister faces a new challenge, which he will likely fail after losing support of his own party. If that happens, the new prime minister will be seventh … “Australian Dollar Sinks amid Political Turmoil”
Jackson Hole 2018: Watch these three long-term things in Powell’s speech
Fed Chair Powell’s speech at Jackson Hole is unlikely to provide immediate news to markets. Comments on the long-term, emerging markets, and the central theme of the event matter more. Fed Chair Jerome Powell will speak on Friday, August 24th, at the Jackson Hole, Wyoming, at the Kansas City Fed’s annual conference. The event yielded significant … “Jackson Hole 2018: Watch these three long-term things in Powell’s speech”
What are Erdoğan’s Options?
Turkish President Recep Tayyip Erdoğan is a proud man. However, perhaps someone should remind him that pride often comes before a fall, and with the Turkish economy teetering on the brink of collapse, maybe now is the time for a little modesty. The Turkish economy is in a mess. There’s just no other way to … “What are Erdoğan’s Options?”
Trump Impeachment: How to trade such a move with the USD in 3 stages
The flipping of confidant Cohen and the conviction of Manafort endanger Trump’s presidency. Markets are already reacting to uncertainty and could move a lot more if Trump starts marching out. There are three different trading phases to the drama. US President Donald Trump worked with Michael Cohen for 12 years. The personal lawyer was also a “fixer” that … “Trump Impeachment: How to trade such a move with the USD in 3 stages”