The New Zealand dollar fell against other major currencies and, similarly to its Australian counterpart, ignored domestic macroeconomic data, which was extremely good. Credit card spending rose 7.0% in February year-on-year and 0.7% month-over-month. The number of visitors arrived in New Zealand increased by 7% last month compared to the same period a year ago and by 2% from the previous month, showing a healthy state of the tourism sector, which is … “Positive Economic Data Fails to Support New Zealand Dollar”
Author: admin_mm
Australian Dollar Falls Even as Leading Index Improves
The Australian dollar erased its intraday gains versus the US dollar and fell against other most-traded currencies today even as Australia’s leading indicators were improving. The Westpac-Melbourne Institute Leading Economic Index in Australia rose 0.3% in February from the previous month. The indicator was down 0.2% in January — the sharpest decline since December 2015. Yet today’s positive report failed to help the Aussie, perhaps because traders were nervous … “Australian Dollar Falls Even as Leading Index Improves”
Canadian Dollar Supported by Strong Rally of Crude Oil
The Canadian dollar was little changed against its US counterpart and gained on other most-traded rivals thanks to the strong rally of crude oil — Canada’s most important export commodity. Prices for crude jumped more than 2%, touching the highest level in three weeks intraday, on the outlook for shrinking global glut. Meanwhile, Statistics Canada reported that wholesale sales rose 0.1% in January, matching forecasts exactly. The sales were down … “Canadian Dollar Supported by Strong Rally of Crude Oil”
US Dollar Rallies as Markets Prepare for Fed Hike
The US dollar gained against other most-traded currencies today as market participants were preparing for tomorrow’s policy announcement from the Federal Reserve. The Fed will conclude its two-day meeting and announce the policy decision at 18:00 GMT tomorrow. It will be followed by a press conference at 18:30 GMT. The gathering will be the first with Jerome Powell as a chairman. Markets consider an interest rate hike at tomorrow’s meeting almost guaranteed, … “US Dollar Rallies as Markets Prepare for Fed Hike”
Euro Sinks to New Lows on Weak German ZEW Survey Data
The euro today booked significant losses against the US dollar following the release of German ZEW survey data for March. The ZEW data triggered a decline that extended from the early European session into the American session as the US dollar gained ground against the single currency. The EUR/USD currency pair today lost over 90 points to drop from a high of 1.2354 to a low of 1.2262. The release of the German ZEW survey expectations for March, … “Euro Sinks to New Lows on Weak German ZEW Survey Data”
Pound Loses Ground Following Weak UK Inflation Data
The British pound today declined against the US dollar following the release of the UK Consumer Price Index data for February. The pound gave up all of its earlier gains accumulated during the late Asian session and early European session before the release of the UK inflation data. The GBP/USD currency pair today lost over 80 points to decline from a high of 1.4067 to trade at a low of 1.3983 at the time of writing. The Sterling pound gave … “Pound Loses Ground Following Weak UK Inflation Data”
Swiss Franc Vulnerable Despite Positive Fundamentals
The Swiss franc slipped versus the US dollar today despite supportive fundamentals. Against other currencies, the Swissie was mixed. Switzerland’s trade balance surplus widened from CHF 1.1 billion in January to CHF 3.2 billion in February, above the consensus forecast. The economic forecast by the Federal Governmentâs Expert Group painted a positive picture of the Swiss economy. Yet all that was not particularly helpful to the Swissie, perhaps because traders … “Swiss Franc Vulnerable Despite Positive Fundamentals”
Aussie Drops Intraday, Reverses Decline Sharply
The Australian dollar dropped intraday during the current trading session but has started a rebound at 10:45 GMT and managed to erase its losses against most of its rivals by now, with the notable exception of the US dollar. The minutes of the March policy meeting released by the Reserve Bank of Australia today provided no surprises. The central bank was optimistic about the domestic economy overall but mentioned several headwinds. Among them was … “Aussie Drops Intraday, Reverses Decline Sharply”
Pound Climbs on Reports About Brexit Transition Deal
The Great Britain pound jumped today against its most-traded peers on news that the United Kingdom and the European Union have reached a transition deal that would keep trade between the UK and the EU. Analysts were bullish on the sterling at the start of the current trading session, hoping that Britain and the EU will reach an agreement that would allow trading between the two to remain unhindered after the Brexit for at least couple of years before … “Pound Climbs on Reports About Brexit Transition Deal”
Japanese Yen Loses Intraday Gains
The Japanese yen gained during the Asian trading session but has lost its gains by the start of the European session and is trading below the opening level now. The Bank of Japan released the Summary of Opinions at its March policy meeting, revealing that policy makers wanted to maintain the current extremely accommodative monetary policy: There is no change in the judgment that it is necessary to continue pursuing powerful monetary easing … “Japanese Yen Loses Intraday Gains”