The Indonesian rupiah fell today, prompting speculations that the nation’s central bank will intervene to defend the currency. The rupiah was under pressure from rising US Treasury yields and strengthening US dollar, which were sapping appeal from assets of emerging markets. The central bank was trying to hold off depreciation of the currency, but had little success so far. That resulted in speculations that the Bank Indonesia may … “Bank Indonesia May Intervene to Support Falling Rupiah”
Author: admin_mm
Yen Continues to Fall After Economic Data Disappoints
The Japanese yen has started a decline at the end of the previous trading session and continued to move lower during today’s session. Japan’s macroeconomic data was somewhat disappointing, meaning that it could not stop the currency’s fall. The Indices of All Industry Activity rose 0.4% in February from the previous month. While the reading was better than the drop by 1.1% registered in January, it still managed to miss the median forecast of a 0.6% … “Yen Continues to Fall After Economic Data Disappoints”
EUR/USD Rallies Higher Despite Weak German IFO Survey Data
The EUR/USD currency pair today rallied higher despite the release of the disappointing German IFO business climate index early in the European session. The pair maintained its uptrend into the early North Americans session despite the release of positive US macro data. The EUR/USD currency pair today rallied by over 55 points from a low of 1.2184 to trade at a high of 1.2243 at the time of writing. The release of the German IFO Business Climate data triggered … “EUR/USD Rallies Higher Despite Weak German IFO Survey Data”
EUR/USD: A Cautious ECB To Keep A Lid On EUR – Barclays
The European Central Bank convenes on Thursday to make its decision. Will Draghi drag the euro down? Here is the view from Barclays: Here is their view, courtesy of eFXdata: Barclays Research discusses the EUR outlook around the ECB meeting on Thursday and expects a cautious tone from President Draghi which could keep the EUR contained for … “EUR/USD: A Cautious ECB To Keep A Lid On EUR – Barclays”
Pound Rallies Higher Boosted by Improved Public Sector Finances
The British pound today rallied slightly against the US dollar following the release of upbeat UK public sector finances report early in the European session. The GBP/USD currency pair was on track to reverse the massive decline that occurred during the last 5 trading sessions where the pair lost over 450 points. The GBP/USD currency pair today gained over 65 points to rally from a daily low of 1.3917 to trade at a high … “Pound Rallies Higher Boosted by Improved Public Sector Finances”
New Zealand Dollar Weakest Major Currency During Tuesday Trading
The New Zealand dollar was the weakest major currency today, falling for the sixth straight trading session versus the US dollar and for eighth versus the euro and the extremely weak Japanese yen (which was the second weakest). There was no apparent reason for such a sell-off. Some market analysts speculated that it happened due to diminishing prospects for an interest rate hike from the Reserve Bank of New Zealand in the foreseeable future. Currently, … “New Zealand Dollar Weakest Major Currency During Tuesday Trading”
Australian Dollar Bounces After Release of CPI Reports
The Australian dollar fell intraday during the current trading session but bounced after the release of inflation reports even though the data was not particularly supportive. The Australian Bureau of Statistics reported that the Consumer Price Index rose 0.4% in the March quarter of 2018 from the previous three months, slower than in the December quarter of 2017 (0.6%) and slightly below the median forecast (0.5%). The trimmed mean CPI reported by the Reserve Bank … “Australian Dollar Bounces After Release of CPI Reports”
All’s Fair In A Trade War—China’s Payback Could Hurt Markets Even More
The real problem with a possible trade war between China and the United States is that nobody knows what it would look like. For years, the successive US and Chinese leaders have left that hot potato well alone knowing the potential pain it could bring. However, Donald Trump is not a typical US president. There … “All’s Fair In A Trade War—China’s Payback Could Hurt Markets Even More”
Euro Declines on Mixed Eurozone Markit Flash PMI Releases
The euro today declined against the US dollar despite the release of mostly positive PMI data by Markit Economics from across the Eurozone. The single currency’s decline was largely fueled by the resurgent demand for the greenback as trade tensions between China and the USA calmed down. The EUR/USD currency pair lost over 70 points to decline from a high of 1.2289 to trade at a low of 1.2213 at the time of writing. The currency pair’s decline could have been … “Euro Declines on Mixed Eurozone Markit Flash PMI Releases”
Japanese Yen Soft Despite Positive Manufacturing Report
The Japanese yen fell against the US dollar today despite a positive report about Japan’s manufacturing released by Markit during the trading session. The yen was also soft against other currencies, though managed to regain ground versus the euro. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index ticked up from 53.1 in March to 53.3 in April, matching the consensus forecast. Yet that did not prevent the Japanese currency … “Japanese Yen Soft Despite Positive Manufacturing Report”