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Day: November 29, 2018
November 292018
Canadian Dollar Pares Losses on Energy Prices, Account Deficit
The Canadian dollar is paring its earlier losses against its American counterpart on Thursday, buoyed by rallying energy prices and a smaller current account deficit. The loonie has weakened nearly 1% over the last trading week, mainly because of the bear market in international crude oil markets. According to Statistics Canada, the national current account deficit tumbled to $10.34 billion in the third quarter of this year, down from a revised $16.68 […]
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November 292018
Euro Declines on Weak Eurozone Data, Later Rallies on Weak US Data
The euro today fell from Asian session highs in the early European session following the release of mixed macro data from across the euro area. The EUR/USD currency pair later rallied higher in the mid-European session as market risk sentiment improved before heading lower in the American session. The EUR/USD currency pair today traded between a high of 1.1402 and a low of 1.1348, but was trading almost flat at the time of writing. The currency pair’s […]
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November 292018
Swiss Franc Declines After GDP Unexpectedly Contracts
The Swiss franc dropped today as Switzerland’s economic growth halted unexpectedly. The currency did not react to the report immediately, moving largely sideways for some time, but declined sharply later. Swiss gross domestic product fell 0.2% in the third quarter of 2018. That is instead of rising 0.4% as economists had predicted. GDP advanced 0.7% in the previous three months. USD/CHF inched up from 0.9936 to 0.9944 as of 12:58 GMT […]
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November 292018
NZ Dollar Drops on Negative Business Confidence, Trims Losses Later
The New Zealand dollar fell today as the business confidence remained negative. Yet by now, the currency has trimmed losses, erasing them outright against some of its rivals. The ANZ Business Confidence remained at -37.1 in November, the same as in October. Not everything in the report was bad, though, as it said: Encouragingly, both residential and commercial construction intentions bounced back markedly. NZD/USD traded near its opening level of 0.6867 as of 12:35 […]
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November 292018
British Pound Heads Lower on Barnier and Carney Brexit Warnings
The British pound today dropped to new daily lows following warning comments made by the European Union’s chief Brexit negotiator, Michel Barnier regarding the latest Brexit deal. The pound’s decline was further weighed down by a warning from the BoE Governor Mark Carney that most UK businesses are ill-prepared for a no-deal Brexit scenario. The GBP/USD currency pair today dropped from an Asian session high of 1.2850 to a low of 1.2755 […]
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November 292018
EUR/USD Stable, Shows Muted Reaction to FOMC Minutes
EUR/USD was mostly stable today. The currency pair attempted to rally after the minutes of the latest Federal Open Market Committee meeting. Yet the attempt failed, and the EUR/USD pair retreated almost immediately. Personal income and spending rose in October more than was expected, 0.5% and 0.6% respectively. That is compared to the consensus forecast of 0.4% for both indicators and the 0.2% increase registered in September (unchanged from the initial estimate for income, revised […]
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