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Day: October 16, 2018
October 162018
Chinese Yuan Struggles to Find Direction Amid Bearish Economic Data
The Chinese yuan is struggling to find direction on Tuesday as the federal government released economic data that should trouble both officials and investors. Analysts do warn that the currency may get a lift on state stimulus amid the lingering trade dispute between the worldâs two largest economies. Last month, the consumer inflation rate advanced for the fourth straight month, reports the National Bureau of Statistics. Inflation edged up 2.5% year-over-year […]
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October 162018
Loonie Jumps as Positive Fundamentals Outweigh Domestic Data
The Canadian dollar gained today as positive factors outweighed domestic macroeconomic data, which failed to meet market expectations. The currency gained for the fourth consecutive trading session against its US counterpart. One of the possible reasons for the loonie’s gains was the positive market sentiment. Another one were stable prices for crude oil. As for economic data, Statistics Canada reported: Foreign investment in Canadian securities slowed to $2.8 billion in August, down […]
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October 162018
US Dollar Mostly Weak but Gains on Safe Currencies
The US dollar was generally weak today as risk appetite made investors seek riskier currencies with higher yield. For the same reason the greenback gained on safe currencies, like the Japanese yen and the Swiss franc. Italy submitted its budget to the European Commission, which will decide whether it is within the European Union spending rules. While the budget remained with a sharp increase of deficit, there were hopes that […]
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October 162018
Euro Drops and Trades Flat on Weak German Investor Sentiment
The euro today has been alternating between gains and losses against the US dollar from the start of the session due to the risk-off sentiment in the markets. The EUR/USD currency pair dipped to new daily lows after the release of the German ZEW survey data, whose prints came in way below expectations. The EUR/USD currency pair today traded in a range marked by a high of 1.1598 and a low of 1.1564, but was trading flat at the time of writing. The currency […]
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October 162018
Australian Dollar Flat After RBA Minutes, China’s Inflation Data
The Australian dollar was basically flat against most of its major peers following the release of policy minutes by the Reserve Bank of Australia and inflation data in China, Australiaâs biggest trading partner. The RBA released minutes of its October meeting, which did not provide many new insights. The notes were mostly optimistic, stating that the appreciation of the US dollar, while being generally negative to emerging market economies, was helpful […]
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October 162018
Sterling Pound Rallies on Positive Brexit News and UK Jobs Data
The Sterling pound today rallied higher after the release of positive UK jobs data especially the unexpected increase in wages in the three months to August. The GBP/USD currency pair’s rally was initially triggered by comments from Germany’s Europe minister who stated that the likelihood of a Brexit deal was high. The GBP/USD currency pair today rallied from a low of 1.3140 in the Asian session to a high of 1.3222 in the mid-European session. The currency pair opened […]
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October 162018
NZ Dollar Rises as Inflation Accelerates Beyond Expectations
The New Zealand dollar gained today after a report released overnight showed that inflation accelerated last quarter more than was expected. Statistics New Zealand reported that the Consumer Price Index rose 0.9% in the September quarter from the previous three months. That is compared to an increase by 0.7% predicted by analysts and the 0.4% gain registered in the prior quarter. Annual inflation was at 1.9%. NZD/USD gained from 0.6547 […]
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October 162018
EUR/USD Retreats After Rallying Earlier on Tuesday
EUR/USD rallied on Tuesday but was heading to end the session flat. While the currency pair got boost from the dollar’s weakness caused by the positive market sentiment, it looks like optimism slowly eroded. US macroeconomic releases added to the downside momentum as basically all US indicators were better than expected. Industrial production rose 0.3% in September. That is compared to the median forecast of a 0.2% increase and the 0.4% growth […]
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