Macroeconomic data released in Japan today was good, but the Japanese yen fell nevertheless. It looks like market participants continued to eschew currencies perceived to be a safe haven. The Tokyo core Consumer Price Index rose 0.7% in June from a year ago, accelerating from 0.5% in May and beating market expectations of a 0.6% growth. The unemployment rate unexpectedly edged down from 2.5% in April to 2.2% in May. Industrial … “Japanese Yen Falls, Failing to Profit from Positive Data”
Author: admin_mm
NZ Dollar Higher vs. Some Rivals, Falls vs. European Currencies
The New Zealand dollar gained against some currencies but fell versus European ones, like the euro and the Swiss franc, most likely because the European Union was able to reach an agreement about immigration. As for domestic news, Statistics New Zealand reported the seasonally adjusted number of building permits rose 7.1% in May from the previous month. The increase followed the 3.6% drop registered in April. NZD/USD edged up from 0.6756 … “NZ Dollar Higher vs. Some Rivals, Falls vs. European Currencies”
Euro Holds On to Gains After EU Migration Deal Amid Strong US PCE Data
The euro today held on to its gains in the American session despite the release of strong US inflation data, which boosted the greenback. The EUR/USD currency pair has rallied significantly higher overnight after European leaders finally reached a deal on Migration at the EU Summit. The EUR/USD currency pair rallied from a low of 1.1564 to a high of 1.1666 gaining over 100 points in the Asian session and has been trading sideways since then. The currency … “Euro Holds On to Gains After EU Migration Deal Amid Strong US PCE Data”
SNB Maintains Easing Bias, Swiss Franc Reverses Rally
The Swiss franc rallied against some of its rivals intraday but has lost its gains by now, similarly to the Japanese yen. It looks like currently traders are less interested in safe currencies. Yesterday, the Swiss National Bank released its Quarterly Bulletin. The central bank reiterated that “the currency remains highly valued,” therefore “the SNB will remain active in the foreign exchange market as necessary.” The bank noted that … “SNB Maintains Easing Bias, Swiss Franc Reverses Rally”
Japanese Yen Loses Gains After Retail Sales Disappoint
The Japanese yen rallied intraday during the Thursday’s trading session but has lost its gains by now. Worse-than-expected domestic retail sales data was not helping the currency. Japan’s retail sales rose 0.6% in May, year-on-year. That was a far slower pace of growth than 1.3% predicted by analysts and 1.5% registered in April. Month-on-month, sales dropped 1.7% — the biggest decline in 21 months. USD/JPY was down from … “Japanese Yen Loses Gains After Retail Sales Disappoint”
New Zealand Dollar Slumps After RBNZ Dovish Statement
The New Zealand dollar slumped today after the Reserve Bank of New Zealand released monetary policy statement that was more dovish than market participants had anticipated. The RBNZ left its main interest rate at 1.75%. Such decision was widely expected. While the central bank said that “outlook for the New Zealand economy[…]remains intact,” it outlined plenty of risks. Globally, trade wars was the major risk: … “New Zealand Dollar Slumps After RBNZ Dovish Statement”
Euro Declines on Weak German CPI and US GDP Data, Later Recovers
The euro today retraced most of its gains against the US dollar following the release of German CPI data in the mid-European session. The EUR/USD currency pair headed lower after several releases from the US docket such as the initial jobless claims data did not meet expectations. The EUR/USD currency pair today rallied from a low of 1.1526 to a high of 1.1600 before heading lower following the German and US releases. The currency pair … “Euro Declines on Weak German CPI and US GDP Data, Later Recovers”
500 Days in Office—Is Trump Making Good on His Financial Promises?
US President Donald Trump has been in office for more than 500 days, and his Administration has gone to great lengths to persuade the American people that the economy is in good hands. When Donald Trump was sworn in as the 45th President of the United States on January 20, 2017, he promised to “make … “500 Days in Office—Is Trump Making Good on His Financial Promises?”
500 Days in Office—Is Trump Making Good on His Financial Promises?
US President Donald Trump has been in office for more than 500 days, and his Administration has gone to great lengths to persuade the American people that the economy is in good hands. When Donald Trump was sworn in as the 45th President of the United States on January 20, 2017, he promised to “make … “500 Days in Office—Is Trump Making Good on His Financial Promises?”
Pound Drops, Manages to Recover Against Some Rivals
The Great Britain pound fell against its major rivals today, though currently the sterling managed to erase losses against some of them. The possible reasons for the decline were the strength of the US dollar and the dovish Financial Stability Report. The Nationwide House Price Index rose 0.5% in June. While it seemed a decent enough reading, especially compared to the predicted increase by just 0.3% and the drop by 0.2% logged in May, experts pointed out … “Pound Drops, Manages to Recover Against Some Rivals”