The New Zealand dollar fell against its most-traded peers today following the mixed macroeconomic reports and ahead of the central bank’s policy meeting. The New Zealand trade balance increased to NZ$294 million in May from NZ$193 million in April (revised negatively from NZ$263 million). That is instead of a decline to NZ$100 million predicted by economists. The ANZ Business Confidence worsened to -39.0 in June from -27.2 in May. The report commented on the result: … “New Zealand Dollar Falls After Economic Data, Ahead of RBNZ”
Author: admin_mm
US Dollar Rises as Trump Avoids Harshest Measures on China
The US dollar today rallied higher against its main trading partners as news emerged that President Donald Trump‘s administration would not be pursuing the harshest measures against China. Several positive releases from the US docket such as the advance goods trade balance also served to strengthen the greenback in the early American session. The US dollar today gained against its main trading peers as tracked by the US Dollar … “US Dollar Rises as Trump Avoids Harshest Measures on China”
AUD/USD: A Monthly Close Below 0.7315/30 Would Target 0.6800/50 – NAB
The Australian dollar has been suffering on trade wars. How low can it go? Here is their view, courtesy of eFXdata: NAB discusses AUD/USD technical outlook and flags a bearish setup upon a break of the 2 year parallel uptrend channel at 0.7315/30. “Weekly hammer candle last week implies that LT support should hold on a … “AUD/USD: A Monthly Close Below 0.7315/30 Would Target 0.6800/50 – NAB”
AUD/USD: A Monthly Close Below 0.7315/30 Would Target 0.6800/50 – NAB
The Australian dollar has been suffering on trade wars. How low can it go? Here is their view, courtesy of eFXdata: NAB discusses AUD/USD technical outlook and flags a bearish setup upon a break of the 2 year parallel uptrend channel at 0.7315/30. “Weekly hammer candle last week implies that LT support should hold on a … “AUD/USD: A Monthly Close Below 0.7315/30 Would Target 0.6800/50 – NAB”
British Pound Falls on the BoE’s Newest Memberâs Dovish Speech
The Sterling pound today fell to new lows against the US dollar following a dovish speech by the Bank of England‘s newest member Jonathan Haskel at his appointment hearing before the UK Parliament. Haskel’s comments coupled with renewed US dollar demand served to trigger the selling of the pound given that Haskel is replacing a hawkish BoE member. The GBP/USD currency pair today declined from a high of 1.3292 to a low of 1.3207, but … “British Pound Falls on the BoE’s Newest Memberâs Dovish Speech”
Yen Continues to Get Boost from Trade War Fears, Ignores Soft Inflation
The Japanese yen gained on its major rivals today despite somewhat soft inflation print that came out in Japan during the Asian trading session. The major supporting factor for the currency remained fears of trade wars. The Bank of Japan core Consumer Price Index rose 0.5% in May, year-on-year, the same as in April. Analysts had expected inflation to accelerate to 0.6%. The Services Producer Price Index rose 1.0% in May, year-on-year, also … “Yen Continues to Get Boost from Trade War Fears, Ignores Soft Inflation”
Canadian Dollar Soft Under Pressure from Trade War Fears
The Canadian dollar fell against major currencies today, joining other commodity currencies in decline. The main theme on Monday was the escalating threat of trade wars between world’s major economies. Commodity currencies are usually sensitive to swings in market sentiment, and this was certainly the case lately. With signs of more and more protectionist measures from the United States and similar responses from their trading partners, risk aversion was … “Canadian Dollar Soft Under Pressure from Trade War Fears”
Turkish Lira Rallies After Erdogan’v Victory in Presidential Election
The Turkish lira rallied today after victory of Recep Tayyip Erdogan in the presidential election. Erdogan’s victory in the Turkish presidential election reduced political uncertainty, making the lira a bit more appealing to investors. Market analysts argued, though, that there is a high chance that the rally will be short-lived. They pointed out that Erdogan’s presidency was the major reason for the 21% depreciation of the currency this year in the first place. … “Turkish Lira Rallies After Erdogan’v Victory in Presidential Election”
Chinese Yuan at Lowest Since December
The Chinese yuan fell to the lowest level in six months today amid worsening trade tensions between the United States and China, which led to risk aversion on the Forex market. Washington announced restrictions of Chinese investment in US in addition to the previously announced tariffs on Chinese goods — a move that will likely prompt a retaliation from the word’s second biggest economy. In the wake of worsening trade tensions, the People’s Bank of China reduced the reserve requirement … “Chinese Yuan at Lowest Since December”
Euro Trades Sideways on Mixed German IFO Survey Data
The euro today rallied slightly higher after the release of the German IFO business climate index for June, which matched expectations. The euro opened today’s session on a downtrend even as the selling pressure on the single currency increased due to the ongoing trade tensions between the US, China and the European Union. The EUR/USD currency pair today traded in a sideways range marked by a high of 1.1669 and a low of 1.1629, but was looking to break higher at the time of writing. … “Euro Trades Sideways on Mixed German IFO Survey Data”