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Day: September 21, 2018
September 212018
Canadian Dollar Pares Gains As Trade Deal Hopes Fade
The Canadian dollar started on Friday holding a three-month high as inflation data boosted odds of the central bank raising interest rates. Those gains were later pared after a White House official stated that the US is âvery, very closeâ to moving ahead on a trade deal without Canada, suggesting that the U.S. and Mexico will embark upon a bilateral agreement instead of a trilateral one. According to Statistics Canada, the national annual […]
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September 212018
Norwegian Krone Flat Following Interest Rate Hike
The Norwegian krone was little changed today after the nations central bank raised its key policy rate yesterday. The Norges Bank announced yesterday an increase of its main interest rate to 0.75% from the record low 0.5%. The central bank predicted additional rate hikes in the future: Overall, the outlook and the balance of risks imply a gradual interest rate increase in the years ahead. Governor Ãystein Olsen provided a more specific […]
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September 212018
Pound Drops on Failed Brexit Summit Amid Resurgent US Dollar
The British pound today dropped to new lows today following the failed Brexit summit in Salzburg where the EU rejected Britain’s Chequers Plan. The GBP/USD currency pair was further weighed down by the US dollar’s recovery, which drove the cable lower. The GBP/USD currency pair today dropped from a high of 1.3277 to a low of 1.3178 and was on a downtrend up to the time of writing. The currency pair’s decline was largely triggered by the European Union’s […]
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September 212018
Swiss Franc Strongest on Forex Market During Friday’s Trading
The Swiss franc was extremely strong today, beating all of its most-traded rivals. That is surprising, considering that Switzerland’s economic calendar is empty today, and the currency had no factors to facilitate such good performance. Yesterday, the nation’s central bank made its policy announcement. The Swiss National Bank released its monetary policy statement yesterday, announcing that it keeps monetary policy unchanged: […]
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September 212018
NZ Dollar Continues to Rise After Surging on Solid GDP
The New Zealand dollar jumped yesterday thanks to the faster-than-expected economic growth and continued to rise today as macroeconomic data released over the current trading session was also solid. Reported today by the Reserve Bank of New Zealand, credit card spending rose 7.7% in August from a year ago. The increase followed the growth by 3.3% in July. Released yesterday overnight, gross domestic product showed an increase by 1.0% in the June quarter from the previous […]
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September 212018
Japanese Yen Stays Weak, Economic Data Fails to Aid
The Japanese yen remained mostly soft today as the market sentiment stayed generally positive. The set of robust macroeconomic releases in Japan failed to support the currency. Japan’s core Consumer Price Index rose 0.9% in August, year-on-year. The growth was in line with market expectations and a bit faster than the July rate of increase of 0.8%. The Nikkei Flash Japan Manufacturing PMI rose from 52.5 to 52.9 in August. It was the highest reading […]
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