The Japanese yen gained on its major rivals (though not on the Great Britain pound) today despite mixed domestic economic indicators. The likely reason for the currency’s good performance was the market sentiment that favored safer currencies. Growth of Japan’s gross domestic product in the second quarter of this year was finalized at 0.6%. It was slower than the median forecast of 0.7% and the preliminary estimate of 1.0% but faster than the 0.3% … “Yen Gains Despite Disappointing Growth of Japan’s Economy”
Author: admin_mm
Aussie Gains on Greenback, Dragged Down vs. Other Rivals by Economic Data
The Australian dollar joined the broad based rally against its US rival. Against other currencies, the Aussie declined as basically all domestic macroeconomic reports released over the Thursday’s session were poor. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index registered a reading of 55.3 in August, down from 60.5 in the previous month. Australia’s seasonally adjusted retail sales showed no change in July, … “Aussie Gains on Greenback, Dragged Down vs. Other Rivals by Economic Data”
Pound Gains on Vulnerable Dollar, Falls Against Other Rivals
The GBP/USD currency pair (also know as the Cable) rallied today on the back of the US dollar’s weakness. The Great Britain pound fell against other currencies, though. In fact, there were speculations that the sterling may reach parity with the euro. Today’s comments from European Central Bank President Mario Draghi sent the US dollar lower against other currencies, helping the Cable to gain. Yet the situation does not look … “Pound Gains on Vulnerable Dollar, Falls Against Other Rivals”
Canadian Dollar Consolidates Gains Made Against US Dollar
The Canadian dollar today consolidated gains made against its US counterpart yesterday after the BoC rate hike decision. The USD/CAD pair tested new lows after the release of disappointing US jobless claims data and weak Canadian building permits data early in the North American session. The USD/CAD pair lost over 110 points at the height of its decline as the loonie gained steadily against the greenback throughout today’s session. The Canadian … “Canadian Dollar Consolidates Gains Made Against US Dollar”
US Dollar Loses Ground Against Euro Following ECB Decision
The US dollar fell against the euro on Thursday following the latest monetary policy decision from the European Central Bank, which maintained interest rates unchanged. The greenback further weakened in the wake of lackluster economic data in the United States. Following its latest meeting, The European Central Bank said in a press release earlier today that the Governing Council decided to keep interest rates at 0% in a move that was widely expected by analysts. … “US Dollar Loses Ground Against Euro Following ECB Decision”
USD/CAD: Air Pocket Into 1.2130 But Some Profit-Taking On
Dollar/CAD is trading under 1.24 ahead of the BOC decision. The team at TD sees a big air pocket on the way down. Here is their view, courtesy of eFXnews: TD FX Strategy Research notes that the focus this week for CAD traders shifts from data to policy, with the BoC meeting Wednesday. “We believe … “USD/CAD: Air Pocket Into 1.2130 But Some Profit-Taking On”
Japanese Cash Earnings Drop Unexpectedly, Yen Fails to Hold Ground
The Japanese yen was attempting to hold ground after the report that showed a drop of wages in Japan. The attempt was succeeding for some time but ultimately failed, and the currency is now trading below the opening level. Average cash earnings fell 0.3% in July instead of rising 0.5% as analysts had predicted. On a bright side, the previous month’s reading got a revision from a drop by 0.4% to an increase by the same rate. There is … “Japanese Cash Earnings Drop Unexpectedly, Yen Fails to Hold Ground”
Aussie Goes Down Even as Economic Growth Accelerates
The Australian dollar fell today even as Australia’s economic growth accelerated last quarter. Australian gross domestic product rose 0.8% on the seasonally adjusted basis in the June quarter of this year from the previous three months. The economy grew 0.3% in the March quarter. Meanwhile, fears of North Korea, which seemed to abate yesterday, returned today. AUD/USD fell from 0.7995 to 0.7976 as of 11:59 GMT today after rising to the high of 0.8020 … “Aussie Goes Down Even as Economic Growth Accelerates”
Swiss Franc Vulnerable Without Help from Risk Aversion
The Swiss franc was weak today as risk aversion on the market has petered out, making traders less interested in safety provided by the currency. Switzerland’s macroeconomic reports were not supportive to the currency either. Swiss gross domestic product rose 0.3% in the second quarter of this year. While it was an acceleration from the previous quarter’s negatively revised increase of 0.1% (0.3% before the revision), the actual growth failed to reach the 0.5% … “Swiss Franc Vulnerable Without Help from Risk Aversion”
British Pound Rallies Against US Dollar Despite Weak UK PMI Data
The British pound today rallied to new highs against the US dollar despite the release of weak Markit/CIPS UK services PMI data. The cable rallied much higher after the release of disappointing US durable goods orders early in the North American session. The currency pair rallied by over 100 points from its daily lows to hit a new monthly high of 1.3033 crossing the 1.3000 psychological barrier. The British pound’s initial rally … “British Pound Rallies Against US Dollar Despite Weak UK PMI Data”