After 3.5 years in the company, Andy Zhang, General Manager of Leverate’s China branch in Shanghai, is leaving his position to pursue a new path in his life. Mr. Zhang was the first Leverate employee in China recruited by Itai Damti, one of Leverate’s founders. Andy had a key role in establishing Leverate’s foothold in … “Leverate China GM Andy Zhang moving on to pursue personal interests”
Author: admin_mm
US Dollar Emerges as Strongest Currency Courtesy of Trade War Fears
The US dollar emerged as the strongest currency on the Forex market today after trade war tensions continued to escalate as US President Donald Trump chose the European Union as the new target for his criticism of unfair trade deals. While previously Trump was chastising mostly China, he said in an interview yesterday: The European Union is possibly as bad as China, just smaller. It’s terrible what they do to us. But the mean … “US Dollar Emerges as Strongest Currency Courtesy of Trade War Fears”
Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases
The euro today traded lower against the US dollar amid the deepening of the political crisis in Germany as the Interior Minister Horst Seehofer threatened to resign. The release of mixed Eurozone PMIs by IHS Markit in the early European session could not reverse the pair’s downtrend as the US dollar gained ground over the single currency. The EUR/USD currency pair today declined from an opening high of 1.1678 to a low of 1.1596 and was on a downtrend at the time of writing. The currency … “Euro Trades Lower on Germany Political Crisis and Mixed PMI Releases”
Good Manufacturing PMI Unable to Prevent Sterling from Falling
The Great Britain pound fell today despite the manufacturing data that was above expectations. Traders were still concerned that the United Kingdom and the European Union may not reach a Brexit deal before the UK officially severs ties with the EU. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose a bit to 54.4 in June from 54.3 in May (revised negatively from the original reading of 54.4). … “Good Manufacturing PMI Unable to Prevent Sterling from Falling”
Australian Dollar Trades Weakest on Monday
The Australian dollar was the weakest currency on the Forex market during the current trading session, falling against all other most-traded rivals. The most likely reason for that was the persisting fears of trade wars between the United States and their trading partners. Macroeconomic releases on the weekend and Monday were mixed, giving the currency no reason to go in one direction or the other. The Manufacturing Index released by Australia Industry Group fell from 57.5 … “Australian Dollar Trades Weakest on Monday”
Japanese Yen Strong Despite Mixed Tankan Survey
The Japanese yen was rather strong today despite a mixed Tankan survey. The currency fell against the US dollar, though, which was also very strong on Monday. The Tankan Manufacturing Index fell from 24 in the March quarter to 21 in the June quarter, below the average forecast of 22. At the same time, the Tankan Non-Manufacturing Index rose from 23 to 24, whereas experts had predicted no change. Meanwhile, trade wars … “Japanese Yen Strong Despite Mixed Tankan Survey”
Euro Ends Week Second Strongest
The euro ended the past trading week as the second strongest major currency. The only currency that outperformed the euro was the Canadian dollar. Interestingly enough, both currencies logged most of their gains on Friday. The euro rallied after the European Union members managed to achieve an agreement that tackles Europe’s migration problem. The Canadian dollar also had its share of positive factors, including strong domestic macroeconomic data and a rally of prices … “Euro Ends Week Second Strongest”
Canadian Dollar Ends Trading Strong, Getting Help from Various Factors
The Canadian dollar ended Friday’s trading extremely strong thanks to the positive domestic macroeconomic data, rising crude oil prices, and the general positive market sentiment. Statistics Canada reported that gross domestic product rose 0.1% in April following the 0.3% increase in March. Economists had predicted no growth. The Industrial Product Price Index rose 1.0% and the Raw Materials Price Index rose 3.8% in May. Both indicators were … “Canadian Dollar Ends Trading Strong, Getting Help from Various Factors”
Swiss Franc Ends Friday Strong
On Friday, the Swiss franc ended trading strong against most of its rivals, with the exception of other European currencies. While domestic data was good, the likely reason for the good performance was the European Union migration deal. As for domestic fundamentals, the KOF Economic Barometer rose from 100.0 in May to 101.7 in June, demonstrating the first increase after the three months of a decline. Analysts had predicted just a marginal increase to 100.3. The report … “Swiss Franc Ends Friday Strong”
Great Britain Pound Rallies After Positive Revision to GDP
The Great Britain pound rallied today thanks to positive macroeconomic reports released in the United Kingdom. The most notable of them was the positive revision to gross domestic product. The Office for National Statistics reported that UK GDP rose 0.2% in the first quarter of 2018 from the previous three months according to the final estimate. While it was a slower rate of growth than 0.4% logged in the fourth quarter of 2017, it was faster … “Great Britain Pound Rallies After Positive Revision to GDP”