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Day: September 5, 2018
September 52018
Chinese Yuan Appreciates As Investors Bullish on Currency, Economy
The Chinese yuan is strengthening against its US counterpart midweek, buoyed by reports that investors appear to be bullish on the currency, the national economy, and the domestic bond market. The yuan also gained momentum on a recent analysis by a Wall Street giant that the currency could gain a greater global reserve market share. Hedge funds and money managers say China is becoming an attractive destination for foreign investors because the government has […]
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September 52018
Euro Declines on Negative Market Sentiment, Rallies on Weak US Dollar
The euro today initially fell drastically in the Asian session as concerns regarding the risk of emerging markets contagion triggered a selloff in riskier currencies including the euro. However, the single currency mounted a recovery from the early European session as market fears dissipated and the US dollar retreated from previous highs. The EUR/USD currency pair today dropped from a high of 1.1608 in the Asian session to a low of 1.1543 before rallying higher in the European session. The currency […]
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September 52018
Aussie Struggles to Keep Gains Despite Better-Than-Expected GDP
The Australian dollar was volatile today, struggling to preserve its gains. While it was trading above the opening level against most major rivals, the Aussie struggled to move higher despite a very supportive factor in the form of the faster-than-expected economic growth. The Australian Bureau of Statistics reported that gross domestic product rose 0.9% in the June quarter from the previous three months. Year-on-year, GDP climbed 3.4%. That was a faster […]
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September 52018
NZ Dollar Stands Firm in Face of Overwhelmingly Negative Data
The New Zealand dollar was relatively firm today. That is surprising considering that macroeconomic data was overwhelmingly negative to the currency. Released during the American trading session, the GlobalDairyTrade Price Index dropped 0.7%. The ANZ Commodity Price Index, released during the Asian session, showed a drop of 1.1% in August from the previous month. While it was a slower decline than 3.3% registered in the preceding month, it was […]
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