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Day: December 4, 2018
December 42018
Swiss Franc Gains Despite Slowing CPI
The Swiss franc was behaving similar to the Japanese yen today, rising against its rivals due to waning risk appetite. Negative domestic macroeconomic data was unable to prevent the rally. The Federal Statistical Office reported that the Swiss Consumer Price Index fell 0.3% in November from the previous month after increasing 0.2% in October. Analysts had expected a smaller decrease by 0.1%. The report commented on the result: The 0.3% drop compared […]
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December 42018
Chinese Yuan Keeps Up the Momentum on US Trade Truce
The Chinese yuan is continuing to post significant gains in the aftermath of the US-China trade truce. With trade hostilities suspended for 90 days, the yuan is looking to pare its steep losses, and some analysts believe the currency could become a global heavyweight in the years to come. Now if only the economy would rally as much as the yuan. Over the weekend, President Donald Trump and President Xi Jinping sat down for a face-to-face meeting. While […]
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December 42018
Euro Rallies Against US Dollar Amid Falling US Bond Yields, Later Declines
The euro today rallied higher against the weaker US dollar boosted by bearish investor sentiment towards the world’s reserve currency. The EUR/USD currency pair rallied higher as markets reacted to falling US Treasury yields amid doubts about the trade ceasefire between the US and China. The EUR/USD currency pair today rallied from an opening low of 1.1348 to a high of 1.1419 in the mid-European session before retracing some of its gains. The currency pair’s […]
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December 42018
Yen Surges as Risk Appetite Caused by US-China Truce Wanes
The Japanese yen jumped against its most-traded rivals today as optimism caused by the truce in the trade war between the United States and China waned, and market participants started to question whether the agreement will hold. Markets rejoiced yesterday due to announcement that the USA and China agreed to not implement additional tariffs on each other for a 90-day period, opening their markets in the meantime. Yet today the positive sentiment caused by the news weakened, sending […]
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December 42018
Aussie Mixed After RBA, Current Account
The Australian dollar was mixed today after the nation’s central bank kept interest rates unchanged, while the current account deficit narrowed. The Reserve Bank of Australia kept its benchmark cash rate at 1.5% today, surprising no one. The central bank was fairly optimistic about economic growth, both domestic and global, though mentioned dangers of trade wars to global trade. The RBA stated: Further progress in reducing unemployment […]
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