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Day: September 13, 2018
September 132018
Chinese Yuan Rallies As Trump Invites Renewed Trade Talks
The Chinese yuan is rallying towards the end of the trading week after President Donald Trump invited Chinese officials to restart trade negotiations. The yuan, nearing a one-week high against its US counterpart, has been paring some of its losses against a basket of currencies in recent trading sessions, advancing 0.15% since Monday. On Wednesday, the Trump administration has invited Chinese officials to Washington for renewed trade talks, which comes […]
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September 132018
Solid Macroeconomic Data Doesn’t Help Japanese Yen
Macroeconomic data released in Japan over the trading session was solid, but that did not help the Japanese yen, which dropped against all other most-traded currencies. The most likely reason for the decline was the improving market sentiment. The Producer Price Index rose 3.0% in August from the same month a year ago, the same as in July and missing the consensus forecast of 3.1% just slightly. Core machinery orders from the private […]
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September 132018
US Dollar Declines vs. Other Majors After CPI Miss, Gains vs. Yen
The US dollar was broadly lower against its most-traded rivals today following the release of a worse-than-expected inflation report and the improvement of the market sentiment. The currency managed to gain on the Japanese yen, though. The Consumer Price Index rose 0.2% in August, the same as in July. Experts were anticipating a slightly faster growth by 0.3%. The growth of the core CPI also missed expectations, slowing from 0.2% in July to 0.1% in August. The seasonally adjusted number of unemployment […]
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September 132018
Euro Rallies Higher on Weak US CPI Data Amid Dovish ECB Rate Decision
The euro today rallied higher against the US dollar in the early American session following the release of disappointing US inflation data. The EUR/USD currency pair barely reacted when the European Central Bank announced its interest rate decision earlier today, which was in line with expectations. The EUR/USD currency pair today rallied from a low of 1.1608 to a high of 1.1677 and was on an uptrend at the time of writing. The currency pair was on a downtrend […]
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September 132018
Australian Dollar Higher Across the Board After Employment Report
The Australian dollar gained against all of its most-traded rivals today on the back of solid employment growth, which was faster than expected, and the improving market sentiment. The Australian Bureau of Statistics reported that employment jumped by 44,000 in August after falling by 4,300 in July. That is compared to the predicted increase of 16,500. The unemployment rate slipped from 5.4% to 5.3%, in line with expectations. Released separately, the Melbourne Institute Survey of Consumer […]
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September 132018
Turkish Lira Rallies After Central Bank Hikes Policy Rate
The Turkish lira gained today after the nation’s central bank increase some of its interest rates and talked about possibility of more hikes in the future. The Central Bank of the Republic of Turkey announced today that it boosted its one week repo auction rate from 17.5% to 24%. While the decision was not unexpected, the scope of the increase was larger than even most optimistic forecasts. Moreover, the central bank stated […]
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September 132018
Sterling Pound Trades Sideways on BoE Rate Decision, Later Declines
The Sterling pound today traded sideways immediately after the Bank of England announced its interest rate decision, which was in line with expectations. The GBP/USD currency pair headed lower afterwards even as investors adjusted to the rate decision while looking forward to other fundamental triggers. The GBP/USD currency pair today traded in ranged between a low of 1.3026 and a high of 1.3071 and was on a downtrend at the time of writing. The currency pair rallied higher […]
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September 132018
EUR/USD Jumps After US Inflation Misses Expectations
EUR/USD rose sharply today after the US inflation report came out worse than was expected. The miss was not big, but it was enough to propel the currency pair higher. CPI rose 0.2% in August, the same as in July. Analysts had expected a bit bigger increase by 0.3%. (Event A on the chart.) Initial jobless claims ticked down from 205k to 204k last week, reaching the lowest level since […]
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