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Day: January 23, 2019
January 232019
Chinese Yuan Rebounds From Two-Week Low As Economic Worries Fade
The Chinese yuan is rebounding from a two-week low as economic worries dissipate. The yuan, which was one of the weakest Asian currencies last year, is gaining on reports that the federal government does not want to see it weaken too much should it affect trade negotiations. There has been talk that the worldâs two largest economies are inching towards a new trade agreement. As the yuan makes […]
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January 232019
Canadian Dollar Declines Against US Dollar on Weak Retail Sales Data
The Canadian dollar today dropped to new daily lows against its US counterpart following the release of weak Canadian retail sales data. The loonie had made gains against the greenback earlier today as evidenced by the USD/CAD currency pair’s decline before retracing all of its gains after the release. The USD/CAD currency pair today dropped from an opening high of 1.3357 to a low of 1.3301 before retracing all its losses in the American […]
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January 232019
Yen Soft After BoJ Monetary Policy Meeting, Economic Forecast
The Japanese yen was soft today after the Bank of Japan performed a monetary policy meeting and revised its economic projections. The losses were not particularly big, though. As was widely expected, the BoJ left its monetary policy unchanged, with the main interest rate staying at -0.1%. As for economic projections, the central bank cut its growth forecast for the fiscal year of 2018 to 0.9%-1.0% from the October’s estimate of 1.3%-1.5%. The inflation forecast […]
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January 232019
EUR/USD Falls on Wednesday
EUR/USD fell during Wednesday’s trading. Analysts pointed at several possible reasons for the drop, including the continuing government shutdown in the United States and cancellation of trade talks between the USA and China scheduled for this week. As for macroeconomic data, the government shutdown means that there will be few reports this week. Richmond Fed manufacturing index rose from â8 in December to â2 in January, matching forecasts exactly. (Event A on the chart.) Yesterday, […]
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January 232019
NZ Dollar Rallies After Consumer Inflation Surprises Positively
The New Zealand dollar climbed by the end of the Tuesday’s trading session and continued to rally during the early Wednesday’s session. The rally was a result of the better-than-expected inflation data. Before the report, the currency was moving either sideways or down versus its major peers. Statistics New Zealand reported that the Consumer Price Index rose 0.1% in the December quarter of 2018 from the previous three months. Analysts had predicted ahead of the report no […]
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