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Day: October 8, 2018
October 82018
Pound Retreats as Brexit Optimism Wanes
The Great Britain pound declined today as optimism about a trade deal between the United Kingdom and the European Union started to wane. Earlier, the sterling was strong on the signs that the Brexit deal is near. But the recent reports put a damper on such hopes. Prime minister’s spokesman said: It is worth me pointing out that thereâs a difference between people talking optimistically about a deal and a deal, including both […]
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October 82018
Euro Declines on Italyâs Defiance to the EU Amid Trade War Fears
The euro today fell to new 6-week lows against the US dollar as investors remained concerned about Italy’s defiance towards the EU’s budget demands. The risk-off sentiment in the market further contributed to the EUR/USD currency pair’s decline as trade war fears dominated the markets on a data-light Monday. The EUR/USD currency pair today dropped from an opening high of 1.1529 to a low of 1.1458 in the early American session, but had recovered slightly at the time of writing. […]
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October 82018
Australian Dollar Mixed, Fundamentals Don’t Help to Find Direction
The Australian dollar was mixed today, trading basically flat against its US counterpart, rising against the euro, but falling versus the Japanese yen. Fundamentals, which were mixed themselves, did not help the currency to find a direction. The People’s Bank of China announced that it is cutting the reserve ratio requirements for most commercial banks by 1%. While it helped to mitigate the impact of the falling Chinese stocks on the Forex […]
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