The Australian dollar declined against its major rivals today despite a positive economic report released in Australia during the current trading session. Australia’s Producer Price Index rose 0.6% in the December quarter of 2017 from the previous three months. That was a bigger increase than 0.4% predicted by analysts and 0.2% registered in the September quarter. Yet the Aussie did not respond to the helpful data, extending its drop. Market experts … “Australian Dollar Doesn’t Find Help from Positive PPI”
Author: admin_mm
Pound Rallies Against US Dollar on Strong UK Housing Data
The British pound today rallied higher against the US dollar in the early European session despite the release of weak UK manufacturing data. The pound’s rally was largely triggered by the weaker US dollar and positive UK housing data released by Nationwide Building Society earlier in the session. The GBP/USD currency pair rallied higher by over 110 points from a daily low of 1.4159 to hit a high of 1.4275 in the early European session. The currency pair … “Pound Rallies Against US Dollar on Strong UK Housing Data”
Positive Economic Data Doesn’t Prevent Slump of Australian Dollar
The Australian dollar slumped against virtually all of its major rivals today even though domestic macroeconomic data was supportive for Australia’s currency for the most part. The Australian Industry Group Australian Performance of Manufacturing Index climbed from 56.2 in December to 58.7 in January. The Import Price Index rose by 2.0% in the December quarter from the previous three months after falling by 1.6% in the September quarter. The Index of Commodity Prices declined 0.6% … “Positive Economic Data Doesn’t Prevent Slump of Australian Dollar”
Chinese Yuan Retreats vs. US Dollar Even as China’s Manufacturing Grows
The Chinese yuan fell against the US dollar today despite the relatively positive report about China’s manufacturing sector. The seasonally adjusted Caixin China General Manufacturing PMI was at 51.5 in January, unchanged from December and in line with expectations. The report said: Chinaâs manufacturing sector continued to expand at the start of 2018, with production rising to the greatest extent in just over a year. Yet the support from the positive data was … “Chinese Yuan Retreats vs. US Dollar Even as China’s Manufacturing Grows”
Euro Rallies Higher Against US Dollar on Upbeat Eurozone CPI
The euro today rallied higher against the US dollar amid a raft of macro releases from both the Eurozone and the US dockets. The single currency was boosted by the release of German December employment change data, which was better than expected. The EUR/USD currency pair today gained over 70 points from a low of 1.2399 to hit a high of 1.2473. The currency pair was on an uptrend from the Asian session as investors ditched the greenback … “Euro Rallies Higher Against US Dollar on Upbeat Eurozone CPI”
Australian Dollar Bounces After Losses Caused by Disappointing Data
The Australian dollar slumped at the start of the current trading session, driven down by disappointing domestic macroeconomic reports, but managed to bounce by now. The Australian Consumer Price Index rose 0.6% in the December quarter from the previous three months, the same as in the September quarter but below the analysts’ projection of 0.7%. The trimmed mean CPI increased by 0.4%, also demonstrating the similar rate of growth to that of the previous quarter but missing expectations of a 0.5% increase. … “Australian Dollar Bounces After Losses Caused by Disappointing Data”
NZ Dollar Strong Despite Mixed Data from China
The New Zealand dollar was extremely strong today, jumping more than 1% against such most-traded currencies as the US dollar and the Japanese yen, despite mixed economic reports from New Zealand’s biggest trading partner — China. The China Federation of Logistics and Purchasing reported that the manufacturing Purchasing Managers’ Index slipped from 51.6 to 51.3 in January. Meanwhile, the non-manufacturing PMI gained from 55.0 to 55.3. Earlier this week, … “NZ Dollar Strong Despite Mixed Data from China”
Japanese Yen Rallies After Stocks Sell-Off, Struggles to Keep Gains
The Japanese yen rallied today but struggled to keep gains, losing them against some rivals outright. The possible reason for the rally was a massive sell-off of global stocks. As for macroeconomic indicators released in Japan over the course of the trading session, they were mixed. Stocks all over the world were in retreat today, like the Dow Jones Industrial Average that has lost more than 300 points during the Tuesday’s session. … “Japanese Yen Rallies After Stocks Sell-Off, Struggles to Keep Gains”
Euro Bounces with Help from Positive GDP Figures
The euro was down intraday during the Tuesday’s session but bounced later, getting support from positive GDP figure released from the eurozone. Not all European macroeconomic indicators were good, though. French gross domestic product increased by 0.6% in the fourth quarter of 2017, a bit more than analysts had predicted — 0.5%. Spanish GDP rose by 0.7%, in line with expectations and somewhat slower than the 0.8% rate … “Euro Bounces with Help from Positive GDP Figures”
US Dollar Plummets As Anticipation Builds Up for Interest Rate Decision
The US dollar plummeted against the euro to reach its lowest level in four days as traders held their positions while they wait to see the outcome of the Federal Open Market Committee‘s meeting. The greenback also weakened versus the British pound today following a strong reading for UK consumer credit in December, which overshadowed worries about the future of the Brexit negotiations. The Federal Open Market Committee is scheduled to end its latest … “US Dollar Plummets As Anticipation Builds Up for Interest Rate Decision”