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Day: January 31, 2019
January 312019
Chinese Yuan Rises on Services PMI, Capped by Manufacturing Contraction
The Chinese yuan is making significant gains against its major currency rivals towards the end of the trading week. The yuan is rising on the latest services economic data, but the currencyâs rally was capped by concerning manufacturing news. In China, the Purchasing Managersâ Index (PMI) has become an important economic indicator. It is monitored closely by the market because it is a survey of businesses in a particular industry. Any reading above […]
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January 312019
Euro Falls to Daily Lows Below Key Level on Mixed Eurozone Data
The euro today fell from yesterday’s highs, which were triggered by the dovish FOMC policy statement and comments, following the release of mixed eurozone data. The EUR/USD currency pair recovered slightly after the release of higher-than-expected US jobless claims data, which painted a different picture of the country’s labor market. The EUR/USD currency pair today dropped from a high of 1.1515 to a low of 1.1470 after the multiple eurozone releases. The currency pair’s decline […]
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January 312019
Yen Gains on Fed’s Dovish Stance, Domestic Macroeconomic Data
The Japanese yen gained against its most-traded counterparts today. Some market analysts explained the rally by the better-than-expected domestic macroeconomic data, while others believed that the dovish stance of the US Federal Reserve helped the currency to gain, especially versus the US dollar. The Bank of Japan released the Summary of Opinions at the last week’s monetary policy meeting. The central bank signaled that it is ready to ease its already extremely […]
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January 312019
Australian Dollar Rallies on Back of China’s Improving Data
The Australian dollar gained against most of its major rivals today thanks to the better-than-expected macroeconomic reports released in China, Australia’s biggest trading partner. Data in Australia itself was somewhat mixed, but none of the reports released today was outright negative. China’s official manufacturing Purchasing Managers’ Index edged up from 49.4 in December to 49.5 in January, whereas analysts had expected it to fall to 49.3. Still, being […]
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January 312019
EUR/USD Falls on Eurozone Macroeconomic Data
EUR/USD fell today, likely dragged down by mixed macroeconomic data released in the eurozone during the Thursday’s trading session. US economic reports were mixed as well, but that did not prevent the dollar from gaining on the euro. Initial jobless claims jumped from 200k to 253k last week. Market participants were completely unprepared for such a big jump, expecting just a relatively small increase to 215k. Chicago PMI […]
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