Dollar Goes Lower, Waits for Economic Data

The US dollar fell against its most-traded peers during the Tuesday’s trading session as dollar bulls struggled to find a new catalysts for a rally. Economic data released over the rest of the week may provide such catalysts if it turns out good. The greenback moved lower versus the euro amid speculations about quantitative easing tapering from the European Central Bank. The political crisis in Spain had limited impact on the shared European … “Dollar Goes Lower, Waits for Economic Data”

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Japanese Yen Gains vs. US Dollar, Falls vs. Other Majors

The Japanese yen rose against the US dollar today but fell against other major rivals. The drop followed last week’s substantial gains. Bank of Japan Governor Haruhiko Kuroda reiterated during today’s speech that the central bank is going to maintain monetary stimulus till inflation reaches the 2% goal. Kuroda had a fairly optimistic outlook for Japan’s economy, despite stagnating consumer price growth, saying: Japan’s … “Japanese Yen Gains vs. US Dollar, Falls vs. Other Majors”

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Canadian Dollar Rallies Against US Dollar on Positive Housing Data

The Canadian dollar today rallied against its US counterpart after the release of positive housing data by Statistics Canada. The rebound in global crude oil prices triggered the USD/CAD’s downward spiral at the start of today’s session even as OPEC and non-OPEC countries consider extending production cuts. The USD/CAD currency pair lost about 70 points at the height of its decline to hit new three-day lows below the crucial 1.2500 support level. The commodity-linked … “Canadian Dollar Rallies Against US Dollar on Positive Housing Data”

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EUR/USD Retreats from Weekly Highs on Catalan Uncertainties

The EUR/USD currency pair today retreated from daily highs hit in the early European session due to uncertainties relating to the Catalan independence movement. The currency pair had rallied to weekly highs in the early European session following a broad-based selling of the US dollar and positive German trade balance data. The EUR/USD currency pair rallied to weekly highs above the critical 1.1800 levels, before retracing some of its gains as investors waited for news … “EUR/USD Retreats from Weekly Highs on Catalan Uncertainties”

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Pound Rallies Despite Conflicting Economic Reports

The Great Britain pound gained today as the outlook for monetary tightening continued to support the currency despite today’s mixed macroeconomic data. Manufacturing production rose 0.4% in August, while industrial production increased by 0.2%. Experts had predicted a rise by 0.2% for both indicators. Meanwhile, the trade balance widened by £6.2 billion to £13.2 billion instead of falling as forecasters had promised. Still, market participants did not think that it will … “Pound Rallies Despite Conflicting Economic Reports”

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Australian Dollar Rises Following Business Confidence

The Australian dollar rose today as data released over the trading session revealed that the business confidence improved last month. National Australia Bank reported the business confidence index rose from 5 to 7 in September. The report was fairly optimistic, saying: Business conditions stayed rock solid in September, while confidence edged up following the big decline last month. Almost all industries fared well with one … “Australian Dollar Rises Following Business Confidence”

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RBA not expected to change rates in the near term

Summary: RBA maintains interest rates at 1.50% RBA signals that interest rates will remain steady in the near term RBA upbeat on unemployment, expects wage growth to rise Low inflation on account of oil prices, but wage growth could see giving rise to inflation GDP growth consistent with a pickup in non-mining investment The Reserve … “RBA not expected to change rates in the near term”

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Mexican Peso Declines as Inflation Data Disappoints Investors

The Mexican peso dropped against the US dollar on Monday to begin the week on a negative note. The peso weakened following a data release that revealed weaker inflation than expected in the southern neighbor of the United States. Mexico’s National Institute of Statistics and Geography stated in a report, which was published earlier today, that the consumer price index rose 0.31% between August and September. The reading was lower than analyst estimates, which had … “Mexican Peso Declines as Inflation Data Disappoints Investors”

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EUR/USD Trades Sideways in a Slow Start to the Week

The EUR/USD currency pair today traded sideways in a slow start to the week underpinned by an empty US docket due to the celebration of Columbus Day in the USA. Several releases from the European docket such as the German industrial production data boosted the currency pair for a while before the uptrend reversed later. The currency pair was trading sideways for most of today’s session beginning with a downtrend in the late Asian session and spending most of the day in a 30 point … “EUR/USD Trades Sideways in a Slow Start to the Week”

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Australian Dollar Trades Lower After China’s Services PMI Disappoints

The Australian dollar traded a bit lower today following the release of disappointing macroeconomic data for China. The Caixin China General Services PMI slumped from 52.7 to 50.6 in September. Experts were completely wrong with their predictions of an increase to 53.1. The reading was the lowest since December 2015. AUD/USD slid from 0.7769 to 0.7758 as of 15:15 GMT today. EUR/AUD rose from 1.5093 to 1.5128. If you have any questions, comments … “Australian Dollar Trades Lower After China’s Services PMI Disappoints”

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