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Day: January 22, 2019
January 222019
Canadian Dollar Falls on Poor Macroeconomic Data, Market Sentiment
The Canadian dollar fell against its most-traded peers today after the release of negative macroeconomic data and as the market sentiment soured on worsening global growth projections. Statistics Canada reported that manufacturing sales fell 1.4% in November, demonstrating the second consecutive monthly drop. Analysts had predicted a smaller decline by 0.8%. The data was not entirely bad, though, as the main reason for the decline was the drop in sales of petroleum and coal products. […]
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January 222019
US Dollar Firms to Two-Week High on Strong Data, Thawed US-China Tensions
The US dollar is firming to its best level in two weeks on better-than-expected industrial figures and improved US-China trade relations. Greenback investors are shrugging off warnings of sluggish global economic growth and weak Chinese economic data. Heading into 2019, traders anticipated a bearish trend, but the currency has performed modestly well against a basket of currencies. According to the Federal Reserve, US manufacturing output climbed 1.1% in December, […]
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January 222019
Improving German Economic Sentiment Doesn’t Prevent Euro from Falling
The euro fell against most of its major rivals today even after the German economic sentiment improved unexpectedly. The losses were small for the most part, though. The ZEW Indicator of Economic Sentiment for Germany improved from -17.5 to -15.0 in January. ZEW President Professor Achim Wambach expressed his surprise with the improvement considering all the negative factors: It is remarkable that the ZEW Economic Sentiment for Germany has not […]
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January 222019
British Pound Rallies on Upbeat UK Wages Data Amid Brexit Hopes
The Sterling pound today rallied higher against the US dollar following the release of upbeat UK wages data in the early European session. The pound was also boosted by investor hopes of another Brexit referendum after the Labour Party introduced a motion to back the same in Parliament. The GBP/USD currency pair today rallied from a low of 1.2855 to a high of 1.2927 after the positive wages report. The currency pair’s latest rally was driven by the upbeat […]
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