The Japanese yen climbed against other most-traded currencies today despite domestic news that was not favorable to the currency. Some market analysts explained the rally by risk aversion among investors. Markit reported that the Jibun Bank Japan Manufacturing Purchasing Managers’ Index was at 49.4 in July, almost unchanged from June’s figure of 49.3. Being below the neutral 50.0 level, the indicator was showing a decline of the sector. … “Japanese Yen Rallies Despite Negative Domestic News”
Category: Forex news
Pound Falls to 2.5-Year Lows, Ignores BoE and Rallies on USD Weakness
The British pound today fell to 2.5-year lows against the much stronger US dollar, which was boosted by yesterday’s FOMC rate decision. The GBP/USD currency pair was barely affected by the Bank of England‘s interest rate decision before rallying higher later driven by the weak greenback. The GBP/USD currency pair today fell to a low … “Pound Falls to 2.5-Year Lows, Ignores BoE and Rallies on USD Weakness”
Euro Falls to Multi-Year Lows on FOMC, Recovers on Weak US Data
The euro today recovered most of its daily losses against the US dollar following the release of weak US manufacturing data in the early American session. The EUR/USD currency pair had fallen to a multi-year low in the Asian session following the Federal Reserve‘s hawkish rate cut before rallying higher later. The EUR/USD currency pair … “Euro Falls to Multi-Year Lows on FOMC, Recovers on Weak US Data”
NZD/CAD Under the Weekly Support of 0.8692
The New Zealand dollar versus the Canadian dollar currency pair is in a spot from where it could go either way for a considerable amount of time and pips. Long-term perspective After falsely piercing 0.8692, the low of 0.8628 favored the bulls who managed to bring the price very close to the local support level of 0.8915. The next step would have been a consolidation and the continuation of the ascending move, as the bulls had the situation in their favor. … “NZD/CAD Under the Weekly Support of 0.8692”
NFP Preview: 5 scenarios for EUR/USD, mostly downbeat
US Non-Farm Payrolls are set to provide a fresh direction after markets digested the Fed decision. Low expectations may lead to a positive surprise. The US dollar is well-positioned into the release. The historic rate cut by the Federal Reserve – which turned out to be hawkish and dollar-positive – may be behind us. However, the next … “NFP Preview: 5 scenarios for EUR/USD, mostly downbeat”
EUR/USD levels to watch after Powell’s powerful performance
The Federal Reserve has countered its rate cut with a confident message. Fed Chair Jerome Powell has extended the dollar gains with three critical comments. EUR/USD has fallen to the lowest in two years and eyes critical levels below. The confident message in the Fed statement – expressing confidence on inflation, employment and the two … “EUR/USD levels to watch after Powell’s powerful performance”
3 reasons why the USD can continue higher after the hawkish Fed cut
The Federal Reserve has cut its interest rates for the first time in a decade as expected. The Fed also signaled it is unlikely to reduced rates anytime soon. The USD has been advancing ahead of the release and the move may further extend. The Fed finally did it – cutting rates for the first … “3 reasons why the USD can continue higher after the hawkish Fed cut”
EUR/USD may retreat ahead of the Fed with EZ inflation and GDP figures
Euro-zone July inflation and second-quarter GDP are set to show a slowdown. The European Central Bank will be using this data to construct its monetary stimulus package. The figures due out hours before the critical Fed meeting may weaken the euro. “The economic outlook is getting worse and worse” – said Mario Draghi, President of … “EUR/USD may retreat ahead of the Fed with EZ inflation and GDP figures”
Chinese Yuan Weakens As Trade Talk Hopes Fade
The Chinese yuan is weakening against several major currency rivals to kick off the trading week, driven by investors not expecting much to come out of the renewed US-China trade negotiations this week. Tradersâ hopes were dashed after one prominent White House official conceded he âwouldnât expect any grand dealâ as the worldâs two largest economies hold talks. Larry Kudlow, the director of the National Economic Council, … “Chinese Yuan Weakens As Trade Talk Hopes Fade”
Sterling Suffers from Rising Chances of No-Deal Brexit
The Great Britain pound slumped against all other most-traded currencies today amid concerns that chances for a no-deal Brexit increase. And a hard Brexit can deal a serious blow to Britain’s economy. The currency was trading at the lowest level in about two years. An official spokesman of Britain’s Prime Minister Boris Johnson said that the PM will not meet leaders of the European Union to discuss a trade deal until they drop … “Sterling Suffers from Rising Chances of No-Deal Brexit”