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Day: November 30, 2018
November 302018
US Dollar Rebounds on Fed Minutes, G20 Summit Optimism
The US dollar rebounded at the end of the trading week after new Federal Reserve minutes show the central bank favors raising interest rates in December and beyond. With investors paying close attention to this weekendâs G20 summit, all eyes are on President Donald Trumpâs critical meeting with Chinese President Xi Jinping. Wall Street is trying to be optimistic, but is a new trade agreement hopeless? According […]
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November 302018
Canadian Dollar Falls After GDP Miss, Reverses Losses Later
The Canadian dollar fell today after Canada’s GDP data turned out to be disappointing. The currency swiftly reversed its movement, though, trimming losses against some rivals, while erasing them outright against others. The loonie even managed to gain on the euro, which felt pressure from slowing eurozone inflation. Statistic Canada reported that gross domestic product fell 0.1% in September from the previous month — the first […]
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November 302018
Swiss Franc Declines as Economic Barometer Falls Below Expectations
The Swiss franc declined today following the release of underwhelming macroeconomic data. While the currency actually gained immediately after the release, the rally was short-lived, and the Swissie retreated afterwards. The KOF Economic Barometer fell from 100.2 in October to 99.1 in November. Experts had predicted a smaller drop to 99.6. The report commented on the result: This monthâs decline was in particular due to less favourable export prospects. The impetus from foreign demand is […]
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November 302018
New Zealand Building Consents Rise, NZ Dollar Goes Higher
The New Zealand dollar gained today. Domestic macroeconomic data released overnight was good, but it does not seem to contribute much to the currency’s rally. Statistics New Zealand reported that the seasonally adjusted number of building consents increased 1.5% in October from the previous month. The increase followed the 1.3% drop in September. Year-on-year, the indicator rose 6.7%. NZD/USD edged up from 0.6857 to 0.6868 as of 13:36 GMT today. […]
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November 302018
Australian Dollar Weaker After China’s Disappointing Data
The Australian dollar fell today. While domestic macroeconomic data was decent, reports in China, Australia’s biggest trading partner, were disappointing. China’s official manufacturing Purchasing Managers’ Index fell from 50.2 in October to 50.0 in November. Economists had expected the index to remain unchanged. The non-manufacturing PMI dropped to 53.4 from 53.9, touching the lowest level in 15 months. Analysts had also expected the indicator to stay little changed. […]
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November 302018
Euro Declines on Weak Eurozone CPI Data Ahead of G20 Summit
The euro today headed lower against the US dollar from the early European session following the release of the mixed German retail sales data. The EUR/USD currency pair extended its losses in the mid-European session after the release of disappointing eurozone inflation data. The EUR/USD currency pair today declined from a high of 1.1400 in the Asian session to a low of 1.1356, but had retraced some of its losses at the time of writing. The currency pair opened […]
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