The Japanese yen opened slightly above the Friday’s close today but has declined by now. Japan’s retail sales beat expectations but, as it often happens, the currency had muted reaction to domestic data. Japan’s Ministry of Economy, Trade and Industry reported that retail sales climbed 1.8% in June, year-on-year. The rate of increase was slightly higher than 1.7% predicted by economists and three times faster than the 0.6% pace … “Japanese Yen Trades Lower After Retail Sales Beat Expectations”
Author: admin_mm
Krona Rallies As Swedish GDP Beats Expectations
The Swedish krona rose sharply today after Sweden’s economic growth surprised the market, beating expectations. Swedish GDP rose 3.3% in the second quarter of 2018, year-on-year. While it was the same rate of growth as in the first quarter, it was noticeably faster compared to the consensus forecast of a 2.6% increase. The positive data reinforced the outlook for the nation’s central bank to raise interest rates gradually throughout the year. USD/SEK dropped from 8.8290 … “Krona Rallies As Swedish GDP Beats Expectations”
US Dollar Ends Week as Third Strongest Currency
The US dollar ended the week the third strongest currency on the Forex market, losing only to the Canadian dollar and the Japanese yen. There were two major events over the week, and both of them were beneficial to the currency. The meeting between European Union Commission President Jean-Claude Juncker and US President Donald Trump was unexpectedly fruitful, bringing ceasefire in the trade war between the US and the EU. Meanwhile, the policy meeting of the European Central Bank … “US Dollar Ends Week as Third Strongest Currency”
Canadian Dollar Soft on Friday, Heads to Weekly Gains
The Canadian dollar traded flat-to-lower against its major rivals today following the decline of crude oil prices. For the week, though, the currency was heading to strong gains. Crude oil declined on Friday as the number of US oil rigs increased. The Canadian currency often follows moves of crude as the commodity is the major component of Canada’s trade revenue. Talking about trade, concerns about trade wars between the United States and their allies … “Canadian Dollar Soft on Friday, Heads to Weekly Gains”
IMF Says Chinese Yuan âFairly Valuedâ As Currency Slips Further
The Chinese yuan continued its slide on Friday as the currency fell beyond its 13-month low. Despite the US government hinting that the central bank is purposely debasing the yuan, the International Monetary Fund (IMF) said it is âfairly valued.â Speaking in an interview with CNBC, James Daniel, the IMF mission chief for China, explained that the deviation in US and Chinese monetary policies have been contributing the latest decline in the yuan. … “IMF Says Chinese Yuan âFairly Valuedâ As Currency Slips Further”
US Dollar Soft Despite Strong US GDP Growth
The US dollar was broadly lower against its major peers today, though the losses were very limited. The currency fell after the release of a GDP report, even though it was very good, showing that the US economy was growing with the fastest pace in four years. The Bureau of Economic Analysis reported that US gross domestic product rose 4.1% in the second quarter of this year — a sharp acceleration … “US Dollar Soft Despite Strong US GDP Growth”
US GDP is quite good and the USD sell-off will likely be limited
The US reported a 4.1% annualized growth; an excellent number is absolute terms. However, it did not beat expectations nor the hype. The limited USD “sell the fact” is unlikely to be sustained. The US economy grew at an annualized growth rate of 4.1% in the second quarter of the year. This met analysts’ expectations. … “US GDP is quite good and the USD sell-off will likely be limited”
US GDP is quite good and the USD sell-off will likely be limited
The US reported a 4.1% annualized growth; an excellent number is absolute terms. However, it did not beat expectations nor the hype. The limited USD “sell the fact” is unlikely to be sustained. The US economy grew at an annualized growth rate of 4.1% in the second quarter of the year. This met analysts’ expectations. … “US GDP is quite good and the USD sell-off will likely be limited”
Euro Rallies Against US Dollar as US Q2 GDP Estimate Misses Expectations
The EUR/USD currency pair opened today’s session with a bearish outlook given the dovish outlook painted by ECB President Mario Draghi yesterday, which led to a bearish ‘outside day.’ The currency pair was on a downtrend up to the early American session when the flash US Q2 GDP report was released, which boosted the pair. … “Euro Rallies Against US Dollar as US Q2 GDP Estimate Misses Expectations”
Australian Dollar Mixed After Producer Inflation Unexpectedly Slows
The Australian dollar was mixed today, rising against such currencies as the euro and Swiss franc but falling against the US dollar and the Japanese yen, after a report showed that Australia’s producer inflation slowed unexpectedly. The Australian Bureau of Statistics reported that the Producer Price Index rose 0.3% in the June quarter from the previous three months. Analysts had expected the same 0.5% rate of growth as in the March quarter. Next week, … “Australian Dollar Mixed After Producer Inflation Unexpectedly Slows”