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Day: October 12, 2018

October 12
2018

Euro Declines on Flat German Inflation Amid US Dollar Rebound

The euro today dropped from 2-week highs against the US dollar as the greenback rallied higher from the early European session to recoup most of yesterday’s losses. The EUR/USD currency pair rallied slightly after the release of positive German inflation data, but could not sustain its rally due to the resurgent greenback. The EUR/USD currency pair today dropped from an Asian session high of 1.1610 to a low of 1.1533 in the early American session, […]

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October 12
2018

US Dollar Halts Decline as Stocks Sell-Off Pauses

The US dollar rallied today against most of its major peers, breaking the three-day long streak of losses. The greenback has lost its gains against the Japanese yen by now but kept them against other rivals. The US Dollar Index rose 0.25% today. Market analysts explained the rally by the rise of global stocks. US stocks demonstrated particularly big gains, with the S&P 500 Index and the NASDAQ Composite Index […]

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October 12
2018

EUR/USD Reverses Movement on Friday, Goes Down

EUR/USD reversed its movement today, going down after rising earlier during the week. Market analysts explained it by the rally of the dollar caused by the jump of global stocks. US stocks in particular showed big gains, signaling about improving confidence in the US economy. As for US macroeconomic data it was mixed, with rising import prices, but deteriorating consumer sentiment. Import prices rose 0.5% in September, exceeding the average […]

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October 12
2018

Chinese Yuan Still Lower on Reports US Will Not Label China ‘Currency Manipulator’

The Chinese yuan is still trading lower on Friday, despite reports that the US Treasury Department will not label the world’s second-largest economy a â€œcurrency manipulator.” The positive news was offset by an International Monetary Fund (IMF) forecast that lowers the nation’s economic growth over the next two years amid the US-China trade spat. For months, the US government has said that it is working with other G7 […]

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October 12
2018

Japanese Yen Traders Near Opening After Falling Earlier

The Japanese yen fell intraday but as many other currencies was trading near its opening level later. Domestic macroeconomic data was mixed, giving the currency no reason to go one way or the other. The M2 money supply increased by 2.8% in September from a year ago, while analysts had expected the same 2.9% rate of growth as in the previous month. The seasonally adjusted Indices of Tertiary Industry Activity rose 0.5% […]

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October 12
2018

NZ Dollar Rallies Intraday, Trims Gains Later

The New Zealand dollar rose today, though the currency has trimmed its gains by now, losing them outright against some rivals. The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell to 51.7 in September from 52.0 in August. The report commented on the result:   New Zealand’s manufacturing sector remained within a tight and low level of expansion for September. Unlike many other Asian currencies, New Zealand did not get […]

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October 12
2018

Australian Dollar Shows Resilience in Face of Adverse Fundamentals

The Australian dollar managed to hold its ground, trading near the opening level against its major peers, despite fundamentals that were rather unfavorable to the currency today. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans dropped by 2.1% in August from July. Analysts had expected a smaller drop by 0.9%. Yesterday, the International Monetary Fund downgraded the growth outlook in 2019 for Asia in general and Australia and China, […]

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