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Day: February 18, 2019
February 182019
Chinese Yuan Gains on Trade Talk Momentum, Trade Data
The Chinese yuan is gaining against major currency rivals on Monday as it is being supported by US-China trade talk momentum and better-than-expected January trade data. The yuanâs ascent was capped on disappointing auto sales figures and future industry projections. Last week, an American delegation was in Beijing for US-China trade deliberations. Both sides failed to reach a new trade agreement, but investors are cheering on reports that the discussions […]
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February 182019
Euro Rallies on Trade Talk Hopes, Drops on Shift in Investor Sentiment
The euro today rallied higher against the US dollar driven by investor hopes of a breakthrough in the ongoing Sino-US trade talks and a risk-on market sentiment. The EUR/USD currency pair’s performance today was largely driven by market sentiment given that US markets were closed in celebration of Presidents’ Day holiday. The EUR/USD currency pair today traded between a high of 1.1334 and a low of 1.1292 by rallying higher then retracing its gains before […]
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February 182019
Sterling Opens Higher, Continues to Rise vs. US Dollar & Yen
The Great Britain pound opened sharply higher today. While it has backed off closer to the Friday’s close against some peers, the sterling continued to move higher versus such currencies as the US dollar and the Japanese yen. As for today’s macroeconomic data, the Rightmove House Price Index rose 0.7% in February after increasing 0.4% in January. Annual growth was at just 0.2%. The news about resignation of several Members of Parliament from […]
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February 182019
Yen Weakest on Forex Market amid Risk Appetite, Japan’s Data Doesn’t Help
The Japanese yen was the weakest major currency on the Forex market today amid risk appetite caused by optimism about Sino-US trade talks. Better-than-expected domestic macroeconomic data was unable to provide support for the Japanese currency. The Japanese Cabinet Office reported that machinery orders (excluding volatile components) fell 0.1% in December from the previous month. The decline was much smaller than the forecast drop of 1.1%. Nevertheless, the orders were […]
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