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Day: September 11, 2018
September 112018
Canadian Dollar Strengthens on Renewed NAFTA Talks, Capped by Housing Data
The Canadian dollar is strengthening against its US counterpart on Tuesday after officials confirmed that they are extending talks to renegotiate the North American Free Trade Agreement (NAFTA). The latest reports suggest that American trade representatives are encouraging Ottawa to open up its market and modify its protectionist systems that have been in place for decades. On Monday, Canadian Foreign Affairs Minister Chrystia Freeland met […]
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September 112018
Australian Dollar Falls with Business Confidence
The Australian dollar fell against its most-traded rivals after the release of mixed domestic macroeconomic data. Surprisingly, the Aussie managed to gain on the Japanese yen. The business confidence reported by the National Australia Bank fell from +7 to +4 in August. At the same time, the business conditions improved from +13 to +15. Markets were in a risk-off mode today, favoring safer currencies and putting pressure on riskier ones, therefore it is surprising to see […]
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September 112018
Rising Risk Aversion Helps Swiss Franc to Rebound
The Swiss franc rose against its most-traded peers today amid rising risk aversion on the Forex market. Traders became more nervous after China threatened to retaliate in response to the US tariffs. China and the United States are the world’s biggest economies, therefore a trade war between them can have a very significant negative impact on the global economic growth. Earlier, the Swissie declined as Italian-German yield spread narrowed after concerns […]
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September 112018
Sterling Pound Drops on Risk Aversion Despite Positive UK Jobs Data
The Sterling pound today declined against the US dollar following the release of the latest UK jobs report in the early European session. The GBP/USD currency pair’s decline was largely due to risk aversion among investors reacting to the latest headlines in the Sino-US trade war. The GBP/USD currency pair today declined from an Asian session high of 1.3087 to hit a low of 1.2964 in the mid-European session. The currency pair’s decline coincided with the release of the latest […]
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September 112018
EUR/USD Fails to Rally amid Escalating Trade Tensions
EUR/USD attempted to rally today but failed amid signs of escalating trade tensions between the United States and China. The start of the week was light in terms of macroeconomic data in the USA, but that should change later with the PPI on Wednesday, the CPI on Thursday, and retail sales on Friday. Wholesale inventories rose by 0.6% in July. Experts were anticipating the same 0.7% rate of growth as in June. (Event A on the chart.) Yesterday, a report on consumer credit […]
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