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Day: November 16, 2018
November 162018
Canadian Dollar Rises on Oil Prices, Manufacturing Data
The Canadian dollar is posting modest gains at the end of the trading week, buoyed by higher energy prices and positive manufacturing data. Amid cratering crude prices, the loonie has struggled to find direction, mainly because traders are waiting to see what the Organization for Petroleum Exporting Countries (OPEC) will do relating to output. Crude entered into a bear market after recording the longest stretch of losses in three decades. Since snapping […]
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November 162018
NZ Dollar Declines Despite Rising Manufacturing Index
The New Zealand dollar declined against its most-traded rivals today even after data released overnight showed that the manufacturing sector expanded with accelerating pace. The BusinessNZ Performance of Manufacturing Index edged up from 51.9 to 53.5 in October. That was the highest reading since May. The report commented on the result, saying that “the October result was a welcome change from where the survey has sat for the previous four […]
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November 162018
Euro Rallies on Draghi Speech, Later Declines on Eurozone CPI Data
The euro inched higher against the US dollar in the Asian session and jumped higher in the early European session after Mario Draghi’s mostly hawkish speech in Frankfurt. The euro then headed lower against the greenback following the release of the latest eurozone CPI data, which was in-line with expectations. The EUR/USD currency pair today rallied to a high of 1.1369 before dropping to a low of 1.1320 after the inflation data. The currency pair initially headed […]
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November 162018
EUR/USD Jumps on Dovish Fed
EUR/USD jumped today. Market analysts speculated that the possible reason for that was the dovish tone of several Federal Reserve officials. While Fed Chairman Jerome Powell was optimistic about US economic growth, he cautioned against headwinds to growth and fading fiscal stimulus. Fed Vice Chairman Richard Clarida said that the benchmark interest rate is getting close to a neutral level. Meanwhile, US economic reports […]
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