Day: February 25, 2019

February 25
2019

Pound Rallies on Hopes That Brexit Will Be Delayed, Later Drops

The British pound today rallied slightly against the US dollar amid investor hopes that the UK government would postpone Brexit to allow time for further negotiations. The pound later fell in the early American session as news headlines indicated that the British Prime Minister Theresa May was keen on leaving the EU within the current deadline. The GBP/USD currency pair today rallied to a high of 1.3100, but could not break above […]

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February 25
2019

US Dollar Rivals Benefit From Bearish Data

The US dollar is weakening against a basket of currencies to start the trading week. The dollar’s main rivals are benefiting from bearish economic data, as well as renewed risk appetite on reports of â€œsubstantial progress” in US-China trade negotiations. In the background is a survey of economist that finds many expect a recession soon. According to the US Census Bureau, domestic wholesale inventories rose 1.1% in December. The ratio of inventories to sales climbed to a 30-month high […]

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February 25
2019

NZ Dollar Gains on Risk Appetite, Robust Retail Sales

The New Zealand dollar gained today, joining its Australian counterpart, boosted by positive fundamentals, both domestic and overseas. On top of positive developments in the Sino-US trading negotiations, which were boosting other riskier currencies, the kiwi had positive domestic macroeconomic as additional supporting factor. Statistics New Zealand reported that retail sales increased 1.7% in the December quarter from the previous three months after rising 0.3% in the September quarter. […]

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February 25
2019

Australian Dollar Gains as USA Delays Tariffs on China

The Australian dollar got a lift today from positive developments in the Sino-US trade talks. US President Donald Trump announced a delay in implementations of additional tariffs on Chinese imports, which were scheduled to kick off starting March 1, citing “substantial progress” in the trade talks between the United States and China. Trump also confirmed that he is planning to meet with Chinese President Xi Jinping in March. The news lifted […]

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