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Day: February 4, 2019
February 42019
Japanese Yen Trades Slightly Lower amid Mild Risk Appetite
The Japanese yen was flat-to-lower today as mild risk appetite on the Forex market made safe currencies less appealing to traders. The losses were limited, though, and the currency has trimmed most of them by now. As for today’s macroeconomic data in Japan, the Bank of Japan reported that monetary base expanded by 4.7% in January from a year ago. That was in line with market expectations of a 4.6% increase and the previous month’s growth of 4.8%. Being […]
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February 42019
Canadian Dollar Weakens on Sliding Crude Prices, Sluggish Growth
The Canadian dollar is losing ground against its major currency rivals to kick off the trading week. The loonie is falling on sliding crude oil prices, bearish economic data, and a dovish Bank of Canada (BOC) that is unlikely to raise interest rates for another few months. Oil retreated from last weekâs intraday high on Monday as concerns pertaining to the US and Chinese economies and sanctions slapped on Venezuela dominated the international […]
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February 42019
Euro Mixed After Poor Macroeconomic Reports
The euro was trading mixed today, falling against some majors, including the US dollar and the Great Britain pound, but rising versus safe haven currencies. Macroeconomic data in the eurozone was mostly poor and put downward pressure on the currency. The Sentix Investor Confidence dropped from -1.5 in January to -3.7 in February, while analysts had expected an improvement to -1.1. The report commented about the result: Even in February, the bad news for the economy […]
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February 42019
Pound Declines on Weak Construction PMI and Brexit Concerns
The Sterling pound declined today as markets remained cautious amid Brexit concerns as EU leaders continue to reject the UK’s alternative Brexit Plan B. The pound was dealt a further blow after the UK construction PMI missed expectations indicating that the industry grew much slower than expected. The GBP/USD currency pair today dropped from a daily high of 1.3095 to a low of 1.3043 in the early European session following the weak PMI […]
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February 42019
NZ Dollar Mixed amid Quiet Lunar New Year Trading
The New Zealand dollar was mixed on Monday, falling against such major currencies like the US dollar and the euro but rising versus safe currencies like the Japanese yen and the Swiss franc. Unlike its Australian counterpart, the New Zealand dollar got support from positive domestic macroeconomic data as the Statistics New Zealand reported that the seasonally adjusted number of building permits rose 5.1% in December from the previous month, […]
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February 42019
Australian Dollar Soft on Poor Housing Data, Other Reports
The Australian dollar traded flat-to-lower today after the release of underwhelming macroeconomic reports in Australia. Economic data in China, Australia’s biggest trading partner, was neutral, having a limited impact on the currency. The biggest negative impact perhaps had the building permits report from the Australian Bureau of Statistics, which showed a drop by 8.4% in December from the previous month on a seasonally adjusted basis, which followed the 9.8% decline in November (revised, 9.1% before […]
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