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Day: February 11, 2019
February 112019
Chinese Yuan Weakens As Q1 GDP Expected to Slow to 6%
The Chinese yuan is weakening to kick off the trading week as a state-run newspaper anticipates economic growth to slump to a historically-low level in the first quarter. Investors are also combing through the latest forex exchange reserve data. According to Economic Information Daily, a newspaper run by the governmentâs Xinhua news agency, the Chinese economy is projected to grow just 6% in the January-to-March period, which would be the lowest on record. It is not […]
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February 112019
British Pound Declines on Weak UK Data as Brexit Jitters Persist
The British pound today dropped to new daily lows in the early European session following the release of weak UK manufacturing and GDP data at that time. The Sterling was further weighed down by the uncertainty surrounding the Brexit issue with only 46 days left before Brexit day. The GBP/USD currency pair today dropped from an intra-day high of 1.2939 to a low of 1.2857 and was almost guaranteed to end the day near its daily […]
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February 112019
Australian Dollar Trades Slightly Lower on Uneventful Monday
The Australian dollar traded slightly lower today, continuing feeling the pressure of Reserve Bank of Australia’s stance, which shifted from cautiously hawkish to neutral. Surprisingly, the Aussie performed better versus safer currencies despite investors’ mood being spoiled by worse-than-expected macroeconomic data in Great Britain. As for economic reports in Australia itself, today’s docket was empty. The rest of the week will be different, with home loans and the NAB business confidence […]
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February 112019
Swiss Franc Trades Flat-to-Lower After Flash Crash, Ignores Falling CPI
The Swiss franc experienced a “flash crash” today, falling sharply at the start of the trading session but reversing losses almost immediately afterwards. The worse-than-expected drop of the Swiss Consumer Price Index had limited impact on the currency. Switzerland’s Federal Statistical Office reported that the CPI fell 0.3% in January from the previous month, the same as in December. Analysts had expected a smaller decrease of 0.2%. Year-over-year, the index rose 0.6%. USD/CHF traded at about […]
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