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Day: August 23, 2018
August 232018
Euro Trades Lower on Mixed Eurozone Data and Strong Dollar
The euro today traded lower against the US dollar despite the release of mixed economic releases from across the Eurozone, which should have boosted the single currency. The EUR/USD currency pair was further weighed down by yesterday’s optimistic FOMC minutes, which boosted the greenback. The EUR/USD currency pair today traded in a range between a high of 1.1588 and a low of 1.1543 and was on a downtrend at the time of writing. The currency pair rallied slightly after […]
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August 232018
Canadian Dollar Hits Two-Week High on NAFTA Talks, Offsets Bad Data
The Canadian dollar is trading at its best level in two weeks against its US counterpart on Thursday. The loonie is rallying on reports that progress is being made in North American Free Trade Agreement (NAFTA) negotiations. This news, which is bullish for the Canadian economy, allowed the loonie to dismiss lower energy prices and recent negative economic data. Mexican officials confirmed that an agreement with the US could […]
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August 232018
Japanese Yen Soft Despite Accelerating Manufacturing Growth
The Japanese yen fell against some of its most-traded rivals and was flat against others today despite accelerating growth of Japan’s manufacturing sector and political turmoil in various parts of the world. The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index rose a bit to 52.5 in August from 52.3 in July. The actual figure was slightly above the forecast value of 52.4. The report commented on the result: August flash data extended the current growth […]
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August 232018
Australian Dollar Sinks amid Political Turmoil
The Australian dollar dropped today amid political turmoil in Australia, which will likely result in a shift in the country’s leadership. Australia’s Prime Minister Malcolm Turnbull just survived a challenge to his leadership earlier this week. But now the Prime Minister faces a new challenge, which he will likely fail after losing support of his own party. If that happens, the new prime minister will be seventh […]
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August 232018
EUR/USD Halts Rally After Five Days of Gains
EUR/USD fell today after rising for five straight sessions. While markets initially considered yesterday’s FOMC policy minutes dovish, today they changed their stance, believing that the notes were hawkish enough to make the September interest rate hike almost guaranteed. As for US macroeconomic data, unemployment claims were better than expected, but other indicators missed expectations, allowing the currency pair to trim its losses. […]
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