The New Zealand dollar slumped against its major rivals today, falling to the lowest level since December versus its US counterpart, after the Reserve Bank of New Zealand kept interest rates unchanged and expressed dovishness in its statement. The RBNZ left the main interest rate at the historically low level of 1.75% as was widely expected. The central bank revised the growth forecast lower. Gross domestic product is expected to rise … “NZ Dollar Dives After RBNZ Keeps Rates on Hold”
Author: admin_mm
EUR/USD Rallies From New 2018 Lows on Positive Market Sentiment
The EUR/USD currency pair today rallied from a new 2018 low set in the late Asian session based on improved investor sentiment towards the single currency. The currency pair’s rebound from its lowest levels since December 22 could have been triggered by technically oversold levels, which led to widespread short-covering trades. The EUR/USD currency pair today rallied from a low of 1.1822 to a high of 1.1895 before giving up … “EUR/USD Rallies From New 2018 Lows on Positive Market Sentiment”
Aussie faces resistance and is stuck down under
The AUD/USD reached the lowest levels in 11 months and began recovering as the US Dollar finally takes a breather. However, the pair may run into massive resistance. The Technical Confluences Indicator shows that the 0.7477 level is the convergence of the Simple Moving Average 200-15m, the SMA50-1h, the Fibonacci 38.2% one-day, the one-month low, the one-week low, and the … “Aussie faces resistance and is stuck down under”
USD/CAD awaits a hopeful Canadian jobs report
Canada is expected to post a second consecutive month of upbeat job gains. The high hopes for the April are based on other positive data but may lead to disappointment. The USD/CAD is looking for a new direction, and this report may supply it. Canada publishes its jobs report on Friday, May 11th, at 12:30 … “USD/CAD awaits a hopeful Canadian jobs report”
Japanese Yen Weak Across the Board
The Japanese yen was weak across the board today. Analysts provided various possible reasons for the currency’s extremely poor performance. Some market analysts argued that the yen was soft because of the crude oil rally following the announcement that the United States are pulling back from the Iranian nuclear deal. The higher prices for crude made more attractive riskier currencies related to commodities, while sapping strength from safer … “Japanese Yen Weak Across the Board”
Euro Falls to New Lows on Fed Chair Jerome Powellâs Speech
The euro today fell to new lows against the US dollar following Federal Research Chairmam, Jerome Powell‘s speech in Zurich during the early European session. The euro’s downtrend extended into the American session as demand for the US dollar increased driven by buying pressure from American traders. The EUR/USD currency pair lost over 95 points to decline from a high of 1.1937 to a low of 1.1838 breaking below the crucial 1.1900 resistance level. … “Euro Falls to New Lows on Fed Chair Jerome Powellâs Speech”
3 ways Trump can go on Iran and what it means for currencies
Trump is set to announce his decision on the Iran deal on Tuesday at 18:00 GMT. This is the most important foreign policy move in 15 months, and the world is watching. There are three potential scenarios for his decision and the impact on oil and currency values. US President Donald Trump will tell the … “3 ways Trump can go on Iran and what it means for currencies”
Australian Dollar Tanks After Disappointing Retail Sales
The Australian dollar slumped against all major currencies today, falling to the lowest level since June 2017 against the US dollar, after nation’s retail sales unexpectedly halted growth in March. Rising imports in China, Australia’s biggest trading partner, did little to support the currency. Australian retail sales showed no growth in March from the previous month following the 0.6% increase in February. That is compared to the predicted growth … “Australian Dollar Tanks After Disappointing Retail Sales”
Canadian Dollar Mixed-to-Lower Despite Strong Rally of Crude
The Canadian dollar traded mixed-to-lower today. With lack of any macroeconomic releases during the Monday’s trading session, traders turned their attention towards future releases. The rally of crude oil prices had limited impact on the currency. Prices for crude oil jumped more than 1% today as plenty of factors were supporting the commodity. Usually, the loonie follows moves of crude, but today that was not the case. By now, the currency … “Canadian Dollar Mixed-to-Lower Despite Strong Rally of Crude”
US Dollar Touches Record High for 2018
The US dollar was mixed today, rising against some rivals, falling against others, or staying flat versus some. The currency remained broadly supported by the outlook for higher interest rates from the Federal Reserve. The Dollar Index rose 0.16% to 92.716 today. Earlier today, the index touched 92.974 — the highest level this year. Some analysts speculated that the rally of crude oil prices was helpful to the currency as higher energy … “US Dollar Touches Record High for 2018”