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Day: January 21, 2019
January 212019
Chinese Yuan Weakens As Growth Slows to 28-Year Low
The Chinese yuan weakened against its major currency rivals to kick off the trading week as the latest gross domestic product (GDP) figures were released. And it was not pretty for the worldâs second-largest economy, though some traders are finding needles in a haystack with government data. On Monday, China announced that its official economic growth totaled 6.6% in 2018, which represents the slowest pace since 1990. This […]
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January 212019
Canadian Dollar Declines Against US Peer on Weak Crude Oil Prices
The Canadian dollar today fell against its US counterpart as investors reacted to a drop in global crude oil prices during today’s session. The loonie, whose performance is closely linked to crude oil prices, fell despite the lack of much activity around the greenback as US markets remain closed. The USD/CAD currency pair today rallied from an Asian session low of 1.3250 to a high of 1.3295 in the mid-European session as the loonie lost ground […]
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January 212019
Australian Dollar Posts Small Losses After China’s Growth Slows
The Australian dollar demonstrated small losses during the current trading session after economic data showed slowing growth in China, Australia’s biggest trading partner. Trading was more quiet than usual today as US markets are closed for a holiday. The National Bureau of Statistics of China reported that gross domestic product grew 6.4% in the fourth quarter of 2018, year-on-year, slowing from the 6.5% rate of growth in the third quarter. It […]
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