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Day: February 22, 2019
February 222019
Canadian Dollar Surges Despite Disappointing Retail Sales
The Canadian dollar is strengthening against a basket of currencies at the end of the trading week, despite disappointing retail sales data. The loonieâs performance also comes as the central bank warned that the path of interest rates remains âuncertain,â leaving markets guessing when the next rate hike will take place in 2019 â if at all. According to Statistics Canada, December retail sales fell 0.1% to $50.4 billion, beating median estimates […]
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February 222019
EUR/USD Pair Extends Range-Bound Action for Third Straight Session
The EUR/USD currency pair today extended its range-bound trading pattern for the third consecutive session as the pair reacted to mixed German data and news headlines. The currency pair’s performance was influenced by headlines regarding the US-China trade negotiations and Brexit developments, but investors remained undecided. The EUR/USD currency pair today traded in a wide range defined by a high of 1.1356 and a low of 1.1316 and was within the same range at the time of writing. The currency pair […]
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February 222019
Australian Dollar Gains Even as RBA Chief Mentions Higher Chances of Interest Rate Cut
The Australian dollar was the strongest currency on the Forex market today as traders were cautiously optimistic, waiting for the outcome of the US-China trade negotiations in Washington. The chief of Australia’s central bank reiterated that chances of an interest rate cut increased, but that hardly affected the currency. Philip Lowe, Governor of the Reserve Bank of Australia, was speaking today. He made some dovish remarks, talking about “the accumulation of downside risks.” As a result, Lowe […]
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February 222019
NZ Dollar Rebounds After Falling on Interest Rate Cut Speculations
The New Zealand dollar fell intraday after the nation’s central bank proposed to raise capital requirements for New Zealand’s top banks, leading to speculations that an interest rate cut may follow. The currency has rebounded by now, though, even gaining against some of its rivals. The Reserve Bank of New Zealand proposed to raise capital requirements for the nation’s four biggest banks as a measure “of levelling the playing field.” In response to concerns that […]
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February 222019
Japan’s Inflation Matches Expectations, Yen Falls on Risk Appetite
The Japanese yen fell today amid mild risk appetite on markets. Japan’s inflation came out within expectations but was still far away from the central bank’s 2% target. The national Consumer Price Index rose 0.2% in January from a year ago, slowing from 0.3% in December. Core inflation was at 0.8%. It was within expectations and slightly higher than 0.7% in the previous month. USD/JPY edged […]
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