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Day: April 2, 2018
April 22018
Canadian Dollar Reverses Rally, Follows Crude Oil in Decline
After rallying earlier today, the Canadian dollar fell against its most-traded peers, following the slump of crude oil prices. Prices for crude slumped more than 2% today. There were various reasons for that, including trade war fears and an increase of oil production in Russia. Oil is the major export commodity for Canada, therefore it has a big impact on performance of the Canadian currency. The IHS Markit Canada Manufacturing PMI […]
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April 22018
US Dollar Rallies Higher on Manufacturing PMI Releases
The US dollar today rallied against some of its main trading peers including the euro and the Canadian dollar. The greenback’s rally was triggered by the release of the IHS Markit US Manufacturing PMI for March, which was slightly lower than expected, but still tilted the scales in favor of the greenback. The US Dollar Index, which tracks the greenback’s performance against a basket of its peers, rallied from a daily low of 89.82 to a high of 90.15. […]
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April 22018
Australian Dollar Declines on China’s Data, Trade War Fears
The Australian dollar fell today after negative macroeconomic data from China and signs that the United States and China are close to starting a full-blown trade war. The Caixin China General Manufacturing PMI dropped from 51.6 in February to 51.0 in March. The drop was totally unexpected to economists, who were counting on an increase to 51.8. Staying with the theme of China, the Asian nation announced a tit-for-tat response for the US tariffs on country’s goods. […]
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April 22018
Japanese Yen Falls as Macroeconomic Data Disappoints
The Japanese yen was flat versus the US dollar and lower against other major currencies today after the release of disappointing macroeconomic reports in Japan. The Bank of Japan Tankan manufacturing index dropped from 26 in the December quarter to 24 in the March quarter. The non-manufacturing index declined from 25 to 23. Both values were below the economists’ expectations. Private data echoed the negativity of the official report, with the Nikkei Japan Manufacturing PMI […]
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April 22018
EUR/USD Ticks Up in Light Trading
EUR/USD ticked up today as the dollar was under pressure from growing fears of a trade war between the United States and China. The rally was very limited as trading was thin because Easter Monday is a holiday in many countries. Markit manufacturing PMI rose from 55.3 in February to 55.6 in March according to the final estimate. It was close to the analysts’ forecasts and the preliminary reading of 55.7. (Event A on the chart.) ISM manufacturing […]
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April 22018
[Poll] Fixed Spread vs. Variable Spread vs. Commission
When you start trading Forex, the first thing you notice is that there is no explicit fee that a broker charges you (unless you start with an ECN account). In fact, “no fees and no commission” is a phrase you can often see in Forex related advertisements. Obviously, brokers cannot operate without earnings, so most FX traders get to pay some sort of spread […]
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