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Day: December 19, 2018

December 19
2018

Chinese Yuan Posts Modest Gains As Beijing Begins Stimulus

The Chinese yuan is posting modest gains against some of its currency rivals after the federal government started to launch several aspects of its stimulus program this week. Experts do believe that the yuan will rebound next year, especially if the US and China are able to reach a new trade deal during the 90-day truce. China’s chief economic planner, the National Development and Reform Commission (NDRC), has […]

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December 19
2018

Canadian Dollar Recovers Against US Peer Despite Weak CPI Data

The Canadian dollar today rallied against the US dollar despite the release of weak Canadian inflation data in the early American session. The USD/CAD currency pair started reversing its earlier gains and extended its losses on the back of negative investor sentiment towards the US dollar. The USD/CAD currency pair today dropped from a high of 1.3483 in the early European session to hit a low of 1.3415 in the American session. The currency pair was in a consolidative phase […]

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December 19
2018

Indonesian Rupiah Climbs vs. US Dollar As Crude Oil Prices Drop

The Indonesian rupiah climbed against the US dollar today. Market analysts explained the rally by falling prices for crude oil. Specialists explained that falling prices for crude reduce inflationary pressure. The strengthening currency can also allow Indonesia’s central bank to keep interest rates unchanged at the policy meeting on Thursday. The weakness of the dollar itself also helped the rupiah to gain against the US currency. USD/IDR declined 0.43% to 14,438.8 as of 12:08 GMT […]

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December 19
2018

Australian Dollar Strong Despite Negative Fundamentals

The Australian dollar was strong today, rising against almost all of its major rivals with the exception of the euro, shrugging of negative fundamentals. The Leading Economic Index in Australia fell 0.1% in November after rising at the same rate the month before. Together with the risk-negative market sentiment, it looked like fundamentals should drag the currency down. Yet it was not the case as the Aussie demonstrated surprising resilience. AUD/USD advanced […]

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December 19
2018

British Pound Drops Despite In-Line Inflation Data Ahead of Fed Decision

The British pound today declined against the US dollar in the early European session despite the release of November inflation data, which met expectations. The GBP/USD currency pair continues to trade in a tight range for the week against the weak US dollar largely due to the prevailing uncertainty regarding Brexit. The GBP/USD currency pair today dropped from a high of 1.2680 to hit a low of 1.2642 and was within this range at the time of writing. The currency pair’s […]

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December 19
2018

Yen Mixed on Japanese Trade Balance, Market Sentiment

The Japanese yen traded mixed today, rising against such currencies as the US dollar and the Swiss franc, but falling versus others, like the euro. Japan’s macroeconomic data released over the session was poor, with the trade balance deficit widening sharply from Â¥0.29 trillion in October to Â¥0.49 trillion in November. Analysts had expected a much smaller increase to Â¥0.31 trillion. The Thomson Reuters/INSEAD Asian Business Sentiment Index edged […]

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December 19
2018

Fed Projections Less Dovish than Expected, EUR/USD Pares Gains

EUR/USD was rising gradually today ahead of the Federal Open Market Committee policy meeting but retreated sharply after the event. While the FOMC hiked its key interest rates, that was already expected and priced in. What really grabbed traders’ attention were the statement and the economic projections, especially for monetary policy. And the fact that they turned out to be not as dovish as markets had expected caused the US […]

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