The Japanese yen rallied against such most-traded rivals as the US dollar and the Great Britain pound during the current trading session. At the same time, it was unable to gain on the European currencies like the euro and Swiss franc, which is surprising considering the political turmoil in Europe, specifically in Spain. As for Japan itself, the economic reports released on Thursday missed expectations. The All Industry Activity Index rose 0.1% in August from the previous month, … “Japanese Yen Mixed During Thursday’s Trading”
Author: admin_mm
NZD/USD Tumbles Almost 2% as New Zealand Coalition Government Forms
The New Zealand dollar tumbled almost 2% against its US peer and more than 2% against such currencies as the euro and the Japanese yen. The reason was the slump was the news that the leftist Labour Party joined with the populist right-wing New Zealand First party to form a coalition government. There were several reasons for why markets reacted in a such negative fashion to the news. Firstly, markets do not like … “NZD/USD Tumbles Almost 2% as New Zealand Coalition Government Forms”
British Pound Plummets for Second Consecutive Day on Weak Retail Sales
The British pound fell against most of its peers for the second day in a row on Thursday, following the release of lower than expected retail sales data in the United Kingdom. The weak consumer demand continued a trend of disappointing economic releases over the past few days, as inflation rose while wage growth lagged behind. The UK Office for National Statistics said in a report that was published this morning that retail sales within … “British Pound Plummets for Second Consecutive Day on Weak Retail Sales”
EUR/USD Rallies as Spanish Government Tightens Grip on Catalonia
The EUR/USD currency pair rallied to new highs today despite the announcement by the Spanish government that it would invoke Article 155 suspending Catalonia’s autonomy. The currency pair rallied higher in the early North American session ignoring the release of positive US unemployment data by the Department of Labor. The EUR/USD currency pair rallied by over 80 points from its daily low of 1.1767 established early in the European session. Given today’s empty … “EUR/USD Rallies as Spanish Government Tightens Grip on Catalonia”
AUD Gains on USD, Falls vs. Other Major Despite Supportive Data
The Australian dollar rallied against its US counterpart but fell against other most-traded rivals during the current trading session. That is despite the strong domestic employment data and decent macroeconomic reports released from China, Australia’s biggest trading partner. Australia’s employment rose by 19,800 in September from the previous month, seasonally adjusted, exceeding the median forecast of an increase by 14,100. Furthermore, the unemployment rate unexpectedly ticked down … “AUD Gains on USD, Falls vs. Other Major Despite Supportive Data”
Appointing Taylor to Fed Chair could boost the USD by
Speculation is mounting about the next person to lead the Fed. Will Yellen continue? Will it be someone else? One of the options is John Taylor, best known for the Taylor Rule. How will the US dollar react? Here is the view from BTMU: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research … “Appointing Taylor to Fed Chair could boost the USD by”
Australian Dollar Mixed After Confusing Economic Data
The Australian dollar was mixed today following confusing macroeconomic data. The currency gained on such rivals as the Japanese yen and the Swiss franc, but fell versus the euro and was flat against the US dollar. The Westpac/Melbourne Institute Leading Index rose 0.1% in September from the previous month after falling by 0.1% in August. But the six month annualized growth rate, which suggests the likely pace of economic activity relative to trend three … “Australian Dollar Mixed After Confusing Economic Data”
Euro Recovers Against US Dollar on Weak Housing Data
The euro today recovered the ground it had lost against the US dollar during the early European session after the release of disappointing US housing data. The euro was largely weaker against the US dollar for most of the European session despite an early morning speech by Mario Draghi, the President of the European Central Bank. The EUR/USD currency pair recovered most of the ground it had lost earlier in the session when it was trading … “Euro Recovers Against US Dollar on Weak Housing Data”
Canadian Dollar Rallies on Back of Supportive Fundamentals
The Canadian dollar rallied today amid positive macroeconomic data, a rally of prices for crude oil, and hopes that the trade agreement with the United States can still be preserved. Canada’s manufacturing sales rose 1.6% in August. That was an unexpectedly good reading considering that the sales dropped 2.6% in July and experts were expecting another drop in August, though just a minor one by 0.1%. US inventories of crude shrank … “Canadian Dollar Rallies on Back of Supportive Fundamentals”
British Pound Declines Against Major Peers on Lackluster Labor Data
The British pound declined against most other major currencies on Wednesday as the latest labor market figures painted a mixed picture of unemployment and wage growth. Lower expectations of an interest rate hike followed todayâs figures, which further weighed on the British currency. A fresh report from the UK Office for National Statistics showed that the unemployment rate was at 4.3% in August, which matched expectations. 52,000 people went out of unemployment in the three … “British Pound Declines Against Major Peers on Lackluster Labor Data”