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Day: September 6, 2018
September 62018
Japanese Yen Strengthens to One-Week High Despite Typhoon, Earthquake
The Japanese yen is strengthening against its American counterpart on Thursday, despite concerns that the recent typhoon and earthquake that tore through Japan could impact the national economy. The latest weather events are leaving investors fearful of the long-term consequences, especially at a time when the government is trying to stimulate the sluggish economy. Typhoon Jebi struck western Japan earlier this week, leaving 11 people dead and 100s wounded. […]
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September 62018
Swedish Krona Drops After Riksbank Pushes Back Rate Hike Date
The Swedish krona dropped today after Sweden’s central bank kept its benchmark repo rate unchanged and pushed back the planned rate hike to a later date. The Riksbank left its main interest rate at -0.5%, in line with market expectations. The central bank’s statement was rather optimistic, saying: Economic activity in Sweden is strong and inflation is close to the target of 2 per cent. The bank added that it […]
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September 62018
Swiss Franc Rises on Robust GDP Growth
The Swiss franc gained against most of its major rivals today, boosted by risk aversion and the better-than-expected GDP print. The Swiss Federal Statistics Office reported that gross domestic product grew 0.7% in the second quarter of this year following the 1.0% growth in the first quarter (revised, 0.6% before the revision). Experts had predicted a slower rate of growth — 0.5%. The report stated that the expansion was “at an above-average rate for the fifth quarter […]
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September 62018
Euro Rallies on Weak US ADP Employment Data and Positive Sentiment
The euro today rallied higher against the US dollar following the release of disappointing employment data from the USA in the early American session. The EUR/USD currency pair was trading sideways in the mid-European session following a brief decline during the Asian session largely driven by market sentiment. The EUR/USD currency pair today dropped from an opening high of 1.1659 to a low of 1.1614 in the early European session before rallying higher and recouping most of its […]
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September 62018
Australian Dollar Soft Despite Better-Than-Expected Trade Balance
The Australian dollar was mixed-to-lower today despite domestic macroeconomic data that showed a better-than-expected trade balance. The Australian Bureau of Statistics reported that the trade surplus decreased to A$1.55 billion in July from A$1.94 billion in June. Despite the decrease, the actual reading was better than the median forecast of A$1.46 billion. Yet the Aussie did not react to the report, and analysts explained that by risk aversion on the Forex market. AUD/USD rallied […]
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September 62018
EUR/USD Flat After ADP Employment Missed Expectations
EUR/USD attempted to rally after the employment report from Automatic Data Processing failed to meet market expectations. Yet the currency pair was unable to sustain the rally and is trading near the opening level now. Markets were cautious ahead of tomorrow’s nonfarm payrolls and were watching developments in trade negotiations between the United States and its trading partners — China and Canada. ADP employment rose by 163k in August. That is compared […]
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