The Great Britain pound dropped today after a UK official signaled about a possibility of the “hard” Brexit. As the date of the final separation of the United Kingdom from the European Union draws closer, chances that the UK and the EU will reach a trade deal before the deadline of March 2019 diminish. Pessimism increased after Trade Secretary Liam Fox said that there is 60% chance of the “no-deal” outcome, blaming “intransigence” of EU officials … “Pound Drops After UK Officials Talks About Chances of Hard Brexit”
Author: admin_mm
Swiss Franc Under Pressure from Stock Markets’ Attempt to Rally
The Swiss franc was soft today as the attempt of stock markets to rally put pressure on safer currencies. The markets wobbled, though, amid trade tensions between the United States and China. Today’s decline followed Friday’s better-than-expected inflation data in Switzerland. Released on Friday, a report from the Federal Statistical Office showed that the Consumer Price Index fell 0.2% in July from the previous month. While it was a worse reading than … “Swiss Franc Under Pressure from Stock Markets’ Attempt to Rally”
CAD Ends Week Strongest with Aid of Good Data & NAFTA Optimism
The Canadian dollar ended the past week as the strongest currency on the Forex market thanks to economic data and optimism about NAFTA talks. The loonie was lifted on Tuesday by the gross domestic product report that showed faster growth of Canada’s economy than was expected. On Friday, another positive report was released, showing that Canada’s trade deficit shrank much more than was expected. Additionally, signs that progress has … “CAD Ends Week Strongest with Aid of Good Data & NAFTA Optimism”
The Non-Farm Payrolls will not stop the Fed, nor the Dollar
The Non-Farm Payrolls report met wage expectations but fell on the headline. There is plenty of other good news in the report. There is nothing in the report to derail the Fed from raising rates in September. Wages were supposed to be the focus. They rose by 2.7% YoY and 0.3% MoM precisely as expected. … “The Non-Farm Payrolls will not stop the Fed, nor the Dollar”
The Non-Farm Payrolls will not stop the Fed, nor the Dollar
The Non-Farm Payrolls report met wage expectations but fell on the headline. There is plenty of other good news in the report. There is nothing in the report to derail the Fed from raising rates in September. Wages were supposed to be the focus. They rose by 2.7% YoY and 0.3% MoM precisely as expected. … “The Non-Farm Payrolls will not stop the Fed, nor the Dollar”
Euro Stumbles As Business Growth, Retail Sales Stall
The euro weakened to a five-week low against the US dollar at the end of the trading week on the latest eurozone economic data that is indicating lackluster growth. Despite a rallying DAX and FTSE, the currency could not record any gains, adding to its string of losses over the last month. According to Eurostat, … “Euro Stumbles As Business Growth, Retail Sales Stall”
Australian Dollar Logs Small Gains During Friday’s Trading
The Australian dollar traded higher against most of its major peers today, though gains were marginal. Friday’s macroeconomic data was mixed, failing to provide the currency any meaningful boost. The Australian Bureau of Statistics reported that retail sales rose 0.4% in June from May, demonstrating the same rate of growth as in the previous month. Specialists had expected the growth to slow a bit to 0.3%. The Australian Industry Group Australian Performance … “Australian Dollar Logs Small Gains During Friday’s Trading”
Turkish Lira at New Record Lows After US Slaps Sanctions on Turkey
The Turkish lira slumped to the new all-time low today after the United States slapped sanctions on Turkey, its NATO ally, over detention of a US pastor. Ankara accused evangelical Christian pastor Andrew Brunson of involvement in the failed military coup against President Recep Tayyip Erdogan in 2016. If convicted, he will face 35-year imprisonment. The incident and the resulting sanctions from the USA hurt the already strained relations between the two … “Turkish Lira at New Record Lows After US Slaps Sanctions on Turkey”
US Dollar Emerges as Second Strongest Currency on Thursday
The US dollar gained today, emerging as the second strongest currency on the Forex market (losing only to the extremely strong yen), amid escalating trade tensions between the United States and China. Fears of trade wars intensified after US President Donald Trump proposed to more than double the proposed tariffs from 10% to 25% on $200 billion worth of Chinese goods. The US dollar, which often serves as a safe haven in times of fears … “US Dollar Emerges as Second Strongest Currency on Thursday”
Canadian Dollar Flat on Strong Economic Data, Strengthening Greenback
The Canadian dollar is trading sideways on Thursday as the currency attempts to find direction from a mixed bag of news. While positive economic data and higher oil prices, the US dollar strengthening and Washington nearing a trade deal with Mexico appear to have offset those gains. According to Statistics Canada, the Canadian economy expanded 0.5% in May, the biggest increase in a year. The national economy benefited from recovering industries, many of which endured … “Canadian Dollar Flat on Strong Economic Data, Strengthening Greenback”