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Day: August 17, 2018
August 172018
Euro Firm on Friday After Positive Macroeconomic Releases
The euro rose on Friday. Macroeconomic data released in the eurozone during the trading session was good, with inflation coming out within expectations and the current account beating forecasts. Eurostat reported that eurozone inflation was at 2.1% in July, up from 2.0% in June, according to the final estimate. The reading was the same as in preliminary estimate and matched forecasts. According to the data provided by the European Central Bank, the current account surplus in June was […]
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August 172018
NZ Dollar Dollar Rises After Better-Than-Expected PPI
The New Zealand dollar rose today, boosted by the Producer Price Index, which came out much better than was expected by economists. The output PPI rose 0.9% in the June quarter from the previous three months, while the input PPI rose 1.0%. That is compared to analysts’ predictions of a growth by 0.1% and 0.2% respectively. The kiwi was heading to end the week as the strongest currency, but analysts were skeptical about longevity […]
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August 172018
Canadian Dollar Jumps Despite NAFTA Exclusion
The Canadian dollar is rallying to finish off the trading week. The loonie is strengthening on higher energy prices and strong inflation numbers, but the currencyâs gains may have been capped by President Donald Trump excluding Canada from the latest North American Free Trade Agreement (NAFTA) talks with Mexico. On Thursday, speaking at a televised cabinet meeting, President Trump suggested that US trade representatives are purposely freezing […]
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August 172018
Turkish Lira Halts Recovery, Falls vs. Dollar & Euro
The Turkish lira halted its rebound and fell versus the US dollar and the euro today as concerns about the situation in Turkey resurfaced. Lately, it looked like the fears about the financial stability in the Middle Eastern nation subsided. Yet concerns returned after the United States threatened to slap additional tariffs on Turkish goods unless Turkey releases the detained American pastor. Relations between the two NATO allies soured after the Turkish government […]
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August 172018
EUR/USD Gains on Optimism About US-China Trade Talks
EUR/USD rose today, extending its bounce, on reports that the United States and China will resume trade negotiations. While those will be low level exploratory talks, market participants were happy to see that the world’s two biggest economies want to find compromise and avoid trade wars. As for US macroeconomic data, it was mixed today. Michigan Sentiment Index dropped to 95.3 in August from 97.9 in July […]
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August 172018
Japanese Yen Finds Direction As Investors Show Currency Is âUndervaluedâ
The Japanese yen is continuing to find direction at the end of the trading week as analysts say that the currency is âundervalued.â As the market fears over the Turkish crisis dissipate, several currencies are looking to gain some momentum in this volatile environment, and one of them might be the yen. In the fallout of the lira crash, investors have been diving into the Japanese yen. And this could help appreciate the currency for the remainder of 2018. According to Bloomberg, […]
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