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Day: August 8, 2018
August 82018
Japanese Yen Affected by Balance of Payments, Looks Ahead to GDP Data
The Japanese yen tumbled midweek after the countryâs balance of payments for June missed market forecasts. Investors will now look ahead to Japanâs second quarter gross domestic product (GDP) numbers to find direction in the currency. According to the US Department of Commerce, the US goods trade deficit with Japan declined 3.4% in June to $5.31 billion, but there has been a year-over-year jump of 1.9% to $34.6 billion in the first half of 2018. […]
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August 82018
Sterling Pound Tumbles to 11-Month Lows on Negative Sentiment
The Sterling pound today dropped to new 11-month lows following the resurgence of the US dollar amid negative investor sentiment towards the pound. The GBP/USD currency pair was weighed down by the looming fears of a no-deal Brexit as well as the ongoing trade standoff between the US and China. The GBP/USD currency pair today declined from a high of 1.2960 hit in the Asian session to a low of 1.2897 in the mid-European session. The currency pair’s decline was largely due […]
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August 82018
NZ Dollar Mixed After Macroeconomic Data & Ahead of RBNZ
The New Zealand dollar was mixed today after decent macroeconomic data and ahead of the central bank’s monetary policy meeting. The Reserve Bank of New Zealand inflation expectations in the September quarter for the next two years remained basically unchanged at 2.0%. Released yesterday, the GlobalDairyTrade Price Index showed no change. Dairy prices dropped 1.7% in the previous reporting period. The trade balance of China, New Zealand’s major trading partner, showed […]
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August 82018
Australian Dollar Mixed-to-Lower After RBA, Macroeconomic Data
The Australian dollar was little changed against most of its major rivals today but dropped versus the Japanese yen. Today’s macroeconomic data was rather poor, weighing on the currency. Yesterday, the Reserve Bank of Australian announced its policy decision. The central bank made no surprises, leaving interest rates stable and keeping the statement largely unchanged, reinforcing the view that the RBA will hike interest rates in the second half […]
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August 82018
EUR/USD Consolidates amid Light Macroeconomic Data
EUR/USD consolidated today, looking for direction. The current session was light in terms of macroeconomic data in the United States, providing no help for the currency pair in determining its next move. US crude oil inventories decreased by 1.4 million barrels last week, two times less than the market has anticipated — 2.8 million. The stockpiles increased by 3.8 million barrels the week before. At the same time, total motor gasoline inventories […]
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