Day: December 12, 2018

December 12
2018

Japanese Yen Shows No Clear Trend After Mixed Data

The Japanese yen did not have a clear trend today, rising against some currencies but falling versus others. Macroeconomic data released during the Asian trading session was mixed. The Corporate Goods Price Index rose 2.3% in November from the previous year, a bit less than analysts had predicted — 2.4%. The Indices of Tertiary Industry Activity increased 1.9% in October from the previous month, exceeding the average forecast […]

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December 12
2018

Australian Dollar Gains Despite Interest Rate Projections, Unimpressive Economic Data

The Australian gained against most of its major rivals today, with the exception of the euro. News from Australia itself was not particularly supportive, but the currency profited from the positive market sentiment caused by the news from Great Britain. The National Australia Bank pushed back its projections for an interest rate hike from the Reserve Bank of Australia. Previously, the NAB was predicting that the RBA will perform couple of hikes […]

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December 12
2018

Chinese Yuan Strengthens As Beijing Prepares for 2019 Economic Plan

The Chinese yuan is strengthening midweek as the federal government prepares to unveil its economic game plan. After a disappointing 2018 performance, mostly due to the US-China trade war, Beijing is looking to spur growth by introducing a series of measures that President Xi Jinping hopes will limit the damage. President Xi and the nation’s top leaders will converge on the Central Economic Work Conference, an annual gathering of ministers, provincial governors, senior […]

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December 12
2018

British Pound Rallies as PM May Expected to Win Leadership Challenge

The British pound today rallied higher from the early European session as analysts predicted that the British Prime Minister will win the leadership challenge from within her party. Most analysts are predicting that Theresa May will win the no-confidence vote scheduled for later today despite 48 Tory MPs submitting letters that triggered the vote. The GBP/USD currency pair today rallied from a low of 1.2477 in the early […]

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December 12
2018

EUR/USD Climbs as US Inflation Stagnates

EUR/USD rallied today after data showed that US inflation stalled last month. The general positive market sentiment also helped the currency pair. CPI showed no change in November, exactly as analysts had predicted. The index was up 0.3% in October. (Event A on the chart.) US crude oil inventories fell by 1.2 million barrels last week, less than analysts had predicted (3.0 million barrels) and logged […]

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December 12
2018

Japanese Yen Trades with Losses During Wednesday’s Asian Session

The Japanese yen started the Wednesday’s session in the red across the board. The positive market sentiment was the likely reason for the losses of the safe-haven currency, though negative macroeconomic data might have played its part as well. Japan’s Cabinet Office reported that the seasonally adjusted number of core machinery orders increased by 7.6% in October from September. While it was a better reading than September’s drop by 18.3%, the increase failed to meet […]

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