The Australian dollar was mixed today after the Reserve Bank released minutes of its August policy meeting, which did not provide many new insights into the central bank’s plans. The RBA released today minutes of the meeting that happened two weeks ago. Among interesting details in the notes analysts pointed out the mention of the El Nino event: Members noted that the probability of an El Niño event, which would … “Australian Dollar Mixed After RBA Minutes, Governor Comments”
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Canadian Dollar Flat After Better-Than-Expected Inflation, Traders Eye Retail Sales
The Canadian dollar is looking for direction on Monday after the government reported better-than-expected inflation numbers. Investors will now look ahead to retail sales data later this week, as well as keep a close eye on the US central bank headâs annual speech at Jackson Hole. On Friday, Statistics Canada reported that the July consumer … “Canadian Dollar Flat After Better-Than-Expected Inflation, Traders Eye Retail Sales”
Euro Stabilizes on Italian Budget Concerns Amid Recovering US Dollar
The euro today traded sideways against the US dollar amid market concerns regarding the infrastructure spending plans of the Italian government. The recovery by the US dollar earlier today drove the EUR/USD currency pair lower, but the pair has since recovered most of its losses to trade sideways. The EUR/USD currency pair today declined to … “Euro Stabilizes on Italian Budget Concerns Amid Recovering US Dollar”
Pound Gains on Monday Despite Falling House Prices
The Great Britain pound rose against its major rivals today. It was surprising, considering that Britain’s macroeconomic data was not good and the Brexit worries continued to weigh on the currency. The Rightmove House Price Index dropped 2.3% in August from the previous month after falling just 0.1% in July. Year-on-year, the index rose 1.1%. The report claimed that it was just a “seasonal drop” because “new sellers … “Pound Gains on Monday Despite Falling House Prices”
Turkish Lira Extends Decline on Monday
The Turkish lira continued to fall today after halting its recovery last week. For now, it looks like the decline did not affect other currencies. On Friday, Standard & Poor’s cut Turkey’s credit rating, announcing: S&P Global Ratings lowered its unsolicited long-term foreign currency sovereign credit rating on Turkey to ‘B+’ from ‘BB-‘ and its unsolicited long-term local currency sovereign credit rating … “Turkish Lira Extends Decline on Monday”
EUR/USD: Charts: USD Trade-Weighted Index (TWI) At A Critical Juncture – SocGen
EUR/USD is looking for a new direction after recovering from the downfall. In the longer term, the common currency seems to have lots of room to rise. Here is their view, courtesy of eFXdata: Societe Generale Cross Asset Strategy Research notes that the USD trade-weighted index (TWI) is at a critical juncture and discusses the related … “EUR/USD: Charts: USD Trade-Weighted Index (TWI) At A Critical Juncture – SocGen”
US Dollar Ends Week Soft As Market Enters Consolidation Mode
The US dollar, as well as the Japanese yen, was among losers during the past trading week as the investors’ sentiment improved and the market entered a consolidation mode. The Great Britain pound was also among the weakest currencies, while the New Zealand dollar and the Canadian dollar were the strongest ones. Fears about the situation in Turkey eased a bit, though concerns returned after the United States threatened to slap more sanctions against the country. The fact … “US Dollar Ends Week Soft As Market Enters Consolidation Mode”
Euro Firm on Friday After Positive Macroeconomic Releases
The euro rose on Friday. Macroeconomic data released in the eurozone during the trading session was good, with inflation coming out within expectations and the current account beating forecasts. Eurostat reported that eurozone inflation was at 2.1% in July, up from 2.0% in June, according to the final estimate. The reading was the same as in preliminary estimate and matched forecasts. According to the data provided by the European Central Bank, the current account surplus in June was … “Euro Firm on Friday After Positive Macroeconomic Releases”
NZ Dollar Dollar Rises After Better-Than-Expected PPI
The New Zealand dollar rose today, boosted by the Producer Price Index, which came out much better than was expected by economists. The output PPI rose 0.9% in the June quarter from the previous three months, while the input PPI rose 1.0%. That is compared to analysts’ predictions of a growth by 0.1% and 0.2% respectively. The kiwi was heading to end the week as the strongest currency, but analysts were skeptical about longevity … “NZ Dollar Dollar Rises After Better-Than-Expected PPI”
Canadian Dollar Jumps Despite NAFTA Exclusion
The Canadian dollar is rallying to finish off the trading week. The loonie is strengthening on higher energy prices and strong inflation numbers, but the currencyâs gains may have been capped by President Donald Trump excluding Canada from the latest North American Free Trade Agreement (NAFTA) talks with Mexico. On Thursday, speaking at a televised cabinet meeting, President Trump suggested that US trade representatives are purposely freezing … “Canadian Dollar Jumps Despite NAFTA Exclusion”