Day: December 11, 2018

December 11
2018

Euro Fails to Profit from Improving Economic Sentiment

The euro fell against most of its major rivals today with the exception of the Great Britain pound. Positive macroeconomic data was unable to support the currency. The ZEW Indicator of Economic Sentiment for Germany climbed from -24.1 in November to -17.5 in December instead of falling to -25.0 as analysts had predicted. The index for the whole eurozone edged up from -22.0 to -21.0, whereas analysts had predicted a decrease to -23.2. The report was not particularly […]

Read more
December 11
2018

Aussie Gains on Positive News About US-China Trade War

The Australian dollar gained today despite domestic macroeconomic data, which was not particularly supportive to the currency. The rally was a result of the positive market sentiment caused by news about good developments in the US-China trade relationships. The Australian Bureau of Statistics reported that the House Price Index fell 1.5% in the September quarter from the previous three months, matching the analysts’ general consensus, after falling 0.7% in the previous quarter. National Australia […]

Read more
December 11
2018

Chinese Yuan Strengthens Despite Poor Economic Data

The Chinese yuan is rising on Tuesday, despite the release of data that is reflecting poorly on the national economy. But investors might be focusing more on the US government’s actions on Huawei and the arrest of CFO Meng Wenzhou, which might lead to Beijing retaliating by targeting American executives. Ultimately, the situation could threaten the 90-day trade truce agreed upon by President Donald Trump and President Xi Jinping. According to the China Passenger Car […]

Read more
December 11
2018

British Pound Hits New Yearly Lows on Brexit News and Political Uncertainty

The British pound today dropped to new yearly lows in the American session after European Union officials insisted that they would not reopen Brexit negotiations. The pound made an about-turn after rallying higher in the early European session on positive Brexit news from Ireland regarding the Irish backstop amid positive UK jobs data. The GBP/USD currency pair today dropped from from a session high of 1.2639 to a low of 1.2492, […]

Read more