The New Zealand dollar climbed at the start of the current trading session following the release of surprisingly good employment data at the end of the previous session. But the currency has trimmed its gains against some rivals and lost them against others by now. The number of employed people in New Zealand increased by 0.5% in the December quarter from the previous three months. While the rate of growth slowed considerably from 2.2% the September quarter, it was … “NZ Dollar Gets Boost from Employment Data, Struggles to Keep Gains”
Author: admin_mm
USD: Not The Start Of A Long-Lasting Trade; JPY: In A Sweet Spot – ING
The US dollar is rocking and rolling alongside stock markets. What’s next? Here is the view from ING: Here is their view, courtesy of eFXnews: ING Research discusses the USD and JPY outlook amid the recent broad risk-off sentiment across global markets. “While one could argue that the correction in equity markets was long overdue, … “USD: Not The Start Of A Long-Lasting Trade; JPY: In A Sweet Spot – ING”
EUR/USD Trades Lower Amid Resurgence in US Dollar Demand
The EUR/USD currency pair today traded lower following a resurgence in US dollar demand during the European and early American sessions. The currency pair rallied higher during the Asian session as investors bought the low-yielding euro after European stocks joined the global equities sell-off. The EUR/USD currency pair lost over 120 points to decline from an intra-day high of 1.2435 to a low of 1.2312 at the time of writing. The main driver behind the currency pair’s … “EUR/USD Trades Lower Amid Resurgence in US Dollar Demand”
AUD Falls After Economic Data & RBA, Moves Away from Day’s Lows
The Australian dollar dropped today following the release of unfavorable macroeconomic reports and continued to move down after the Reserve Bank of Australia made its monetary policy decision. The currency has come off the day’s lows by now, though it is still trading below the opening level. Seasonally adjusted retail sales fell 0.5% in December from November, exceeding the median forecast of a 0.2% drop. The seasonally adjusted trade balance logged … “AUD Falls After Economic Data & RBA, Moves Away from Day’s Lows”
Euro Drops Against US Dollar on Weak Eurozone Retail Sales Data
The euro today gave up all its gains and traded much lower after the release of weak Eurozone retail sales data in the mid-European session. The euro had rallied to new daily highs following the release of positive Eurozone services PMIs by IHS Markit earlier in the session. The EUR/USD currency pair lost over 60 points to decline from a high of 1.2475 to a low of 1.2407 at the time of writing. The euro’s steady decline was precipitated … “Euro Drops Against US Dollar on Weak Eurozone Retail Sales Data”
Pound Slips After Growth of Britain’s Services Sector Slows
The Great Britain pound fell against its most-traded rivals today, though held its ground against the US dollar, after growth of Britain’s services sector slowed unexpectedly. The seasonally adjusted IHS Markit/CIPS UK Services PMI slipped from 54.2 in December to 53.0 in January. While the index stayed above the neutral 50.0 level, indicating that the sector continued to grow, the growth was the slowest in 16 months. Ahead of the report, … “Pound Slips After Growth of Britain’s Services Sector Slows”
Australian Dollar Recovers After Opening Lower
The Australian dollar rose against some of its major rivals today but that is after opening below the Friday’s close. Macroeconomic data released in Australia over the course of the trading session was generally supportive to the currency. The Australian Industry Group Australian Performance of Services Index increased from 52.0 to 54.9 points in January. The ANZ Commodity Price Index rose 0.7% in January from the previous month after logging three … “Australian Dollar Recovers After Opening Lower”
British Pound Slips to New Lows on Weak UK Construction Data
The British pound today declined against the US dollar staring in the early European session after the release of disappointing UK construction data. The pound’s decline gained traction during the early North American session after the release of the US non-farm payrolls report. The GBP/USD currency pair lost over 140 points to decline from a daily high of 1.4278 to hit a low of 1.4135 in the American session. The currency pair was trading relatively flat … “British Pound Slips to New Lows on Weak UK Construction Data”
US Dollar Climbs Against Major Peers on Broad Job Gains in January
After spending most of the day trading sideways, the US dollar quickly climbed higher against most of its major peers on Friday following the latest update to jobs gain. Broad gains in the private sector and a record low unemployment rate provided the greenback with enough lift to break away from stale trading to erase most of the losses it had suffered yesterday. The private sector in the United States hired more workers than … “US Dollar Climbs Against Major Peers on Broad Job Gains in January”
NZ Dollar Falls with Building Permits
The New Zealand dollar fell today against most-traded counterparts, including the US dollar, against which the kiwi was rising during the previous three trading sessions. The New Zealand currency behaved somewhat similar to its Australian counterpart, though its behavior was easier to understand as New Zealand macroeconomic data turned out to be rather poor. Statistics New Zealand reported that seasonally adjusted building permits declined … “NZ Dollar Falls with Building Permits”