Day: April 4, 2018

April 4
2018

Canadian Dollar Rebound from Intraday Drop

The Canadian dollar declined intraday during Wednesday’s trading session but has managed to erase its losses versus most major currencies and even logged gains against some of them. The main theme for the Wednesday’s session was escalation of trade tensions between China and the United States. The resulting risk aversion drove down risky assets, including crude oil — Canada’s biggest source of export income. Yet the loonie managed to reverse […]

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April 4
2018

Sterling Shows Resilience in Face of Poor Data from Britain

The Great Britain pound rallied today against some of its major rivals, though not against the euro, even as macroeconomic data released in the United Kingdom over the trading session was rather poor. The seasonally adjusted IHS Markit/CIPS UK Construction PMI slumped from 51.4 in February to 47.0 in March, far below the consensus forecast of 50.9. The index fell below the neutral 50.0 level for the first time in six months, meaning […]

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April 4
2018

EUR/USD Trades in a Tight Range on Both Eurozone and US Data

The EUR/USD currency pair today traded in a tight range from the early European session following the release of mixed Eurozone data. The currency pair remained stable during the American session following several US releases such as the ADP employment change data. The EUR/USD currency pair today traded in a 58-point range between a high of 1.2314 and a low of 1.2256. The core Eurozone CPI print released by Eurostat early in the European session missed expectations […]

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April 4
2018

Aussie Unsure Where to Go in Turbulent Environment

The Australian dollar was little changed today against some rivals, while falling versus the strong yen, amid mixed domestic macroeconomic data, poor data from China (Australia’s biggest trading partner), and escalating trade wars between China and the United States. Talking about Australian economic reports, on the positive side, retail sales rose 0.6% in February from January (seasonally adjusted), two times the forecast rate of increase. […]

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April 4
2018

Yen Gains As Trade War Between US & China Escalates

The Japanese yen rose today on signs that the trade war between the United States and China escalates. In response to the US tariffs on Chinese goods, China announced its plans to impose tariffs on about $50 billion of US imports. The new duties will be applied to 106 US products. Trade wars between two world’s biggest economies does not bode well to the global economy, therefore the news spurred investors to seek […]

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April 4
2018

EUR/USD Rises on Mixed US Data, Trade Wars Escalation

EUR/USD rallied today as markets were rocked by the news that China announced tariffs on US goods in retaliation to the duties introduced by the United States on Chinese imports. As for US economic reports, employment data was surprisingly good, but the services sector was growing with slower pace and the increase of factory orders failed to meet market expectations. ADP employment increased by 241k in March, far above the predicted value of 208k. Furthermore, the previous […]

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