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Day: November 15, 2018
November 152018
Japanese Yen Gains As Economy Expected to Recover in Q4
The Japanese yen is gaining against the greenback after a survey of economists found that they expect the national economy to recover in the fourth quarter. Tokyo experienced a disappointing third quarter, stemming from natural disasters that impacted the overall economy, from consumer spending to industrial output. But with a trade war looming, can Tokyo really spark a rally in the October-to-December period? On Wednesday, it was reported that Japanâs gross […]
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November 152018
USD/CAD Pair Trades in a Range for the Fourth Consecutive Session
The USD/CAD currency pair today traded in a consolidative range extending a trend that has been going on since the start of the week. The currency pair has been range bound despite the commodity-linked loonie being relatively weak due to the massive drop in global crude oil prices as tracked by the West Texas Intermediate. The USD/CAD currency pair today traded between an opening high of 1.3249 and a low of 1.3207 and was within the range at the time of writing. […]
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November 152018
Pound Crashes as Two UK Ministers Resign Following Brexit Deal
The British pound today crashed to new 2-week lows after two UK Ministers and a junior minister led by former Brexit Secretary Dominic Raab resigned following yesterday’s draft Brexit deal. The Sterling was further weighed down by the disappointing retail sales data released earlier today, which pointed a grim picture of the UK economy. The GBP/USD currency pair today plunged from a high of 1.3029 to a low of 1.2755 and was on a downtrend […]
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November 152018
Australian Dollar Propelled by Solid Employment Data
The Australian dollar rose today, propelled higher by strong employment figures. The falling inflation expectations did not affect the currency at all. While the Aussie has trimmed gains against some of its most-traded rivals by now, the currency remains safely above the opening level. The Australian Bureau of Statistics reported that employment increased by 32,800 in October on a seasonally adjusted basis. That is compared to the increase of 19,900 predicted by specialists and the small gain […]
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November 152018
EUR/USD Recovers After Sharp Drop Despite Positive US Data
EUR/USD dropped sharply intraday but rebounded later despite the fact that most of US macroeconomic reports released today were better than expectations. Retail sales rose 0.8% in October, exceeding market expectations of a 0.6% increase. The September reading was revised from an increase by 0.1% to a decrease of the same rate. (Event A on the chart.) Philadelphia Fed manufacturing index decreased from 22.2 in October to 12.9 in November, far below the forecast […]
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