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Day: February 19, 2019
February 192019
Canadian Dollar Gains on Lack of Data, Higher Energy Prices
The Canadian dollar is taking advantage of the lack of data and news on Tuesday, rallying mostly on higher energy prices. After several consecutive reports of mixed numbers, the loonie is enjoying a breather and making gains against some of its currency rivals. In recent days, it was revealed that manufacturing sales fell 1.3% in December, new housing prices were flat, hourly wage growth was up 1.8% in January, and the Canadian […]
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February 192019
Swedish Krona Plunges After Inflation Slows Unexpectedly
The Swedish krona tanked today after nation’s inflation slowed unexpectedly last month, threatening the central bank’s plans to raise interest rates. Sweden’s annual consumer inflation slowed to 1.9% in January from 2.0% in the previous month. That was contrary to analysts’ forecasts, which promised an increase to 2.2%. Previously, the krona was supported by prospects for an interest rate hike in the second half of this year. But such prospects diminished after […]
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February 192019
Sterling Gains on Employment Data, Prospects for Delayed Brexit
The Great Britain pound gained today after employment data showed strong performance of the labor market in Britain. Prospects for a delay for the Brexit also supported the currency. The Office for National Statistics released a report on the UK labor market in the period from October to December, which showed very strong numbers. The employment rate was at 75.8%, the highest since estimates began in 1971. The unemployment rate remained at 4%, and no lower figures have been […]
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February 192019
Euro Drops on Weak Data amid Investor Fears of New US Car Tariffs
The euro today was on a downtrend against the US dollar from the early Asian session as investors worried about the introduction of new car tariffs by the US. The pair spiked higher briefly in the early European session, but quickly gave up its gains following the release of weak macro data from across the eurozone. The EUR/USD currency pair today hit a high of 1.1325 briefly before falling to new daily lows at 1.1275 and was […]
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February 192019
Japanese Yen Weakens After Kuroda Talks About Policy Easing
The Japanese yen weakened today, falling against the US dollar, after Bank of Japan Governor Haruhiko Kuroda said that the central bank may ease its already extremely accommodative monetary policy further. Kuroda suggested today that the central bank may step in if a rise of the yen will hurt the economy and pose an obstacle for inflation reaching the 2% target: If (currency moves) are having an impact on the economy and prices, […]
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February 192019
Swiss Franc Flat vs. Majors, Gains on Yen & Commodity Currencies
The Swiss franc was flat against most major currencies, with the exception of the Japanese yen, after the release of a trade balance report in Switzerland today. Risk aversion helped the Swissie to gain on commodity currencies. Switzerland’s Federal Statistical Office reported that the trade balance surplus shrank to CHF 1.39 billion in January from CHF 1.76 billion in December, demonstrating the smallest surplus since September. The report was not necessarily bad, […]
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February 192019
Australian Dollar Falls After Release of RBA Minutes
The Australian dollar fell today after the release of monetary policy minutes by the Reserve Bank of Australia. The currency also declined as optimism about this week’s trade negotiations between the United States and China turned into cautiousness. The RBA was less optimistic about economy both domestic and abroad, saying: Slowing growth in China and ongoing trade tensions had led to lower growth in global trade. Forecasters had lowered their outlook […]
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