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Day: January 25, 2019
January 252019
US Government Shutdown Ends Temporarily, Dollar Unimpressed
The US dollar had muted reaction to the announcement of a stop-gap agreement between President Donald Trump and the Congress to end the government shutdown without funding the wall with Mexico. Trump said today: I am very proud to announce today that we have reached a deal to end the shutdown and re-open the federal government. The deal will result in government funding for three weeks till February 15. If by that time no longer-term deal […]
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January 252019
Pound Rallies on Hopes of Avoiding No-Deal Brexit
The Great Britain pound rose against its most-traded rivals today on hopes that the country will be able to avoid hard Brexit that can cause serious damage to Britain’s economy. The Sun newspaper reported that Northern Ireland’s Democratic Unionist Party had privately decided to back the Brexit deal proposed by UK Prime Minister Theresa May. In return, the DUP demands that the controversial Irish backstop should have […]
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January 252019
Canadian Dollar Strengthens As BOC Weighs Rate Hike
The Canadian dollar is strengthening against its US counterpart as the central bank hinted that a rate hike is on the table, but it depends entirely on economic data â both at home and abroad. The loonie has improved against the greenback so far this year, despite the Bank of Canada (BOC) taking a wait-and-see approach on interest rates. Rising crude oil prices are also helping lift the currency to finish off […]
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January 252019
Euro Keeps Rising From 5-Week Lows Despite Mixed German IFO Data
The euro today rallied from 5-week lows hit yesterday following the ECB monetary policy decision and the balanced policy stance outlined by Mario Draghi. The EUR/USD currency pair’s rally started in the Asian session driven by a shift in investor sentiment and also as a pullback from yesterday’s crash. The EUR/USD currency pair today rallied from an opening low of 1.1304 to hit a high of 1.1350 in the mid-European session. The currency pair’s initial rally was caused […]
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January 252019
Australian Dollar Gains After Falling on Thursday
The Australian dollar rose today, gaining on most major currencies, with the exception of the euro. While no macroeconomic data was released in Australia today, several reports came out yesterday, including the extremely positive employment report. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed persons in Australia increased by 21,600 in December from the previous month. Experts had predicted a smaller figure of 17,300. Furthermore, the November increase […]
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January 252019
Japanese Yen Declines Even as Inflation Beats Expectations
The Japanese yen fell today, demonstrating the weakest performance among the major currencies, despite the better-then-expected inflation report. Analysts blamed the risk-on market sentiment for the decline. The Tokyo core Consumer Price Index rose 1.1% in January, year-on-year, while economists had predicted the same 0.9% rate of growth as in December. Released yesterday, the Nikkei Flash Japan Manufacturing PMI showed a drop to 50.0 in January from 52.6 in December, whereas experts had […]
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