The Swiss franc gained on its most-trade rivals, though not on the US dollar, today after the release of a good inflation print. The Federal Statistical Office reported that the Swiss Consumer Price Index rose 0.4% in March, the same as in February. Analysts had predicted a slower growth by 0.2%. The report said: Various factors contributed to the 0.4% rise compared with the previous month, such as an increase in the price of international package holidays, air […]
Read moreThe euro today declined against the US dollar following the release of weak Markit services PMIs from across the Eurozone in the early European session. The release of weak US data early in the American session could not reverse the euro’s slide against the greenback. The EUR/USD currency pair today lost over 50 points to decline from a high of 1.2290 to trade at a low of 1.2235. The currency pair’s initial decline was triggered by the release of German […]
Read moreThe Australian dollar was rather weak today, falling against the US dollar and hovering near the opening level against such currencies like the euro and the Japanese yen. It was surprising considering positive macroeconomic releases from Australia and the generally good market sentiment. The Australian Industry Group services index climbed from 54.0 in February to 56.9 in January. Australia’s trade balance logged a surplus of A$0.83 billion in February. While it […]
Read moreEUR/USD backed off today after yesterday’s rally as fears of a trade war between the United States and China subsided. With no clear date of implementation of tariffs in China and the USA, chances are that the world’s two biggest economies may reach an agreement before a full-scale trade war starts. The current trading session was relatively light on economic news from the United States, and so traders wait for tomorrow’s important employment […]
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