The EUR/USD currency pair today fell to new multi-month lows after the release of disappointing French GDP data among other macro releases from the euro block. The pair’s decline was further accelerated by the release of upbeat Q1 GDP data from the USA. The EUR/USD currency pair lost over 60 points to decline from an initial high of 1.2116 to a low of 1.2053, but later rebounded. The currency pair’s decline started in the late … “EUR/USD Declines on Weak Eurozone Releases and Upbeat US GDP, Later Rebounds”
Author: admin_mm
Japanese Yen Rallies Undisturbed by Detrimental Fundamentals
The Japanese yen was little changed against the US dollar but gained on other major rivals today. That was a surprising performance as fundamentals did not look supportive to the currency. The Bank of Japan left interest rates and the size of Japanese government bonds purchases unchanged at today’s meeting, as was widely expected. There was one dissenter who voted for increasing monetary easing. The central bank also released its economic … “Japanese Yen Rallies Undisturbed by Detrimental Fundamentals”
New Zealand Dollar Holds Ground Despite Unexpected Trade Deficit
The New Zealand dollar was little change against some currencies and gained against others today even though the nation’s trade balance demonstrated an unexpected deficit last month. Statistics New Zealand reported that the trade balance turned from a surplus of NZ$172 million in February to a deficit of NZ$86 million in March. That was a total surprise to economists, who were expecting a substantial increase of the surplus to NZ$270 million. It was … “New Zealand Dollar Holds Ground Despite Unexpected Trade Deficit”
EUR/USD Rallies Briefly on ECB Decision and Draghi Speech, Later Declines
The EUR/USD currency pair today rallied briefly after a speech by the European Central Bank President Mario Draghi following the bank’s interest rate decision. The currency pair’s decline was triggered by the resurgence of the US dollar following reports that top US government officials were heading to China for talks on the ongoing US-China trade war. The currency pair initially rallied to 1.2209 after Draghi’s hawkish speech before it dropped massively … “EUR/USD Rallies Briefly on ECB Decision and Draghi Speech, Later Declines”
ECB Analysis: Draghi was not dovish and the euro likes it
ECB President Mario Draghi referred to the recent moderation in growth but expressed confidence that the recovery remains solid. The EUR/USD is bouncing after touching the lowest levels since January 12th. The ECB left all its policy measures unchanged and did not touch the statement as expected. ECB President Mario Draghi did not drag the Euro … “ECB Analysis: Draghi was not dovish and the euro likes it”
Rising Import Prices Give Little Help to Australian Dollar
Macroeconomic data released in Australia today was much better than expected, but that had little impact on the Australian dollar. The currency was mixed intraday and is trading virtually flat as of now. The Australian Bureau of Statistics reported that import prices rose 2.1% in the March quarter of 2018 from the previous three months following the 2.0% increase in the December quarter. That was a noticeably faster pace of growth than 1.3% … “Rising Import Prices Give Little Help to Australian Dollar”
Krona Drops as Sweden’s Central Bank Postpones Rate Hike
The Swedish krona fell today, touching the lowest level since June against the US dollar, as the nation’s central bank postponed the planned date of an interest rate hike from the third quarter of this year to the fourth quarter. The Riksbank left its main interest rate at -0.5% today. The central bank voiced concern about inflation: Underlying inflation has been somewhat lower than expected recently, which raises questions regarding … “Krona Drops as Sweden’s Central Bank Postpones Rate Hike”
Dollar Domination unlikely deterred by slower GDP – Preview
The first estimate for first-quarter GDP growth is expected to show a slowdown amid seasonal factors. Slower growth is unlikely to derail the Fed from remaining upbeat on the economy. Barring a total shock, the US Dollar is unlikely to lose its upward momentum. The US publishes its first read of GDP growth for Q1 … “Dollar Domination unlikely deterred by slower GDP – Preview”
EUR/USD Declines As US Treasury Yields Continue to Rise
EUR/USD declined today ahead of tomorrow’s European Central Bank meeting. The US dollar also rallied against other most-traded currencies, supported by rising US Treasury yields. Wednesday was light on macroeconomic reports, therefore traders turned their attention to other fundamental factors. In particular, they focused on rising US Treasury yields, with the 10-year note hanging above 3% at the highest level in three years. As higher yields reflect … “EUR/USD Declines As US Treasury Yields Continue to Rise”
Kuroda gets a low yen for his 5th anniversary at the BOJ – no policy change likely
The Bank of Japan makes its rate decision as Governor Kuroda completes five years to the massive QQE program. The BOJ is expected to keep its ultra-loose monetary policy and provide more details in its quarterly report. The recent fall in the value of the Yen is encouraging for the Bank. Why this meeting is … “Kuroda gets a low yen for his 5th anniversary at the BOJ – no policy change likely”