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Day: December 20, 2018
December 202018
Euro Rallies After Fed’s Statement, EU-Italy Budget Deal, Economic Data
The euro was very strong today against the majority of most-traded currencies with the exception of the extremely strong Japanese yen. The budget deal between Italy and the European Union, the dovish policy statement of the Federal Reserve, and positive macroeconomic data in the eurozone — all those factors contributed to the rally of the shared 19-nation currency. The major contributing factor for the rally was the policy announcement from the Fed. While Fed’s stance did not seem as dovish as many […]
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December 202018
NZ Dollar Pares Losses vs. US Dollar, Remains Soft vs. Other Majors
The New Zealand dollar managed to pare losses versus its US counterpart today, but remained weak against other most-traded currencies, including the Australian dollar, which itself was vulnerable. The kiwi started Thursday with huge losses due to the disappointing GDP report. The currency managed to bounce versus the greenback later as the US currency was under pressure following the dovish monetary policy statement from the Federal Reserve. During […]
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December 202018
Swedish Krona Climbs After Riksbank Raises Interest Rates
The Swedish krona jumped today after the nation’s central bank decided to reduce monetary easing, raising its benchmark repo rate. The Riksbank hiked its main interest rate from -0.5% to -0.25% effective from January 9, 2019. It was the first interest rate hike in more than seven years. Furthermore, the central bank signaled that it may raise the rate further in the second half of 2019. USD/SEK […]
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December 202018
Japanese Yen Strong After Fed Announcement Disappoints Markets
The Japanese yen was extremely strong today, rallying against all of its major rivals. Market analysts explained the rally by the reaction to the monetary policy announcement from the Federal Reserve. Experts argued that Fed’s policy statement was less dovish than markets had anticipated. And that led to a surge of risk aversion on markets, driving investors to seek safer assets. Meanwhile, the Bank of Japan concluded its policy meeting today. […]
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December 202018
Canadian Dollar Slides to 18-Month Low on Crude Prices, Manufacturing Data
The Canadian dollar is trading sideways against its US rival on Thursday as investors try to make sense of which direction the loonie is headed. The currency has tumbled to an 18-month low on crashing crude oil prices, and the currency was not helped by disappointing manufacturing data. Canada exports many commodities, primarily crude oil, and the country runs a current account deficit. The economy could take a hit if the global flow of trade […]
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December 202018
Sterling Pound Rallies on Upbeat Retail Sales Data and BoE Decision
The British pound today rallied higher against the US dollar from the mid-Asian session as markets digested yesterday’s Fed monetary policy statement. The pound’s rally was further boosted by the release of upbeat UK retail sales data in the early European session. The GBP/USD currency pair today rallied from an initial low of 1.2612 to a high of 1.2707 then retraced some of its gains. The currency pair’s initial rally was largely due […]
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December 202018
Australian Dollar Fails to Keep Gains After Mixed Employment Report
The Australian dollar attempted to rally today following mixed employment data released in Australia. The currency failed to keep gains, though, and is now trading near opening levels against most major rivals. The Australian Bureau of Statistics reported that employment increased by 37,000 jobs in November, seasonally adjusted, exceeding the analysts’ median estimate of 20,000. Yet diving deeper into the report reveals that the data was not particularly good. […]
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December 202018
EUR/USD Volatile As Markets Digest Fed Message
EUR/USD remained volatile following yesterday’s policy announcement from the Federal Reserve. Initially today, the currency pair was rising, but reversed its movement later and started to decline, though it is currently still trading above the opening level. Also yesterday, Italy and the European Union reached an agreement about the Italian budget, adding to bullish factors for the euro. Meanwhile, economic data released in the United States today was mixed, […]
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December 202018
NZD Drops Sharply on Wednesday, Attempts to Bounce on Thursday
The New Zealand dollar dropped sharply yesterday after the policy announcement from the US Federal Reserve and extended losses after the release of mixed domestic macroeconomic data. The currency is attempting to bounce today, but by now the kiwi has lost gains it had posted earlier. The biggest negative factor for kiwi (outside of the Fed announcement) was the disappointing growth of New Zealand’s gross domestic product. Statistics New Zealand reported […]
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December 202018
USD/THB Little Changed After Thai Central Bank Hikes Interest Rates
The Thai baht was little changed against the US dollar today following yesterday’s interest rate hike from the nation’s central bank. In fact, the baht was little changed versus the greenback for the whole year, being one of the most stable Asian currencies. The Bank of Thailand raised its main interest rate from 1.5% to 1.75 at yesterday’s meeting. Five members of the Monetary Policy Committee voted in favor of such change while […]
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