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Day: March 1, 2019
March 12019
Swiss Franc Mixed amid Confusing Data, Market Sentiment
The Swiss franc traded mixed today, rising against some rivals and falling versus others. While initially the currency was weaker due to risk appetite caused by the positive manufacturing report for China, the Swissie rebounded against many peers later. Mixed domestic macroeconomic data was not helping the currency in finding direction. Switzerland’s Federal Statistical Office reported that retail sales dropped 0.4% in January, seasonally adjusted, instead […]
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March 12019
Aussie Retreats After Rally Caused by China’s Economic Data
The Australian dollar rallied today, boosted by better-than-expected macroeconomic data for China. Domestic data was supportive as well. Yet that did not prevent the currency from reversing its gains later as it moved below the opening level against most major peers. The Caixin China Manufacturing Purchasing Managers’ Index climbed to 49.9 in February from 48.3 in January. It was “only fractionally below the neutral 50.0 mark.” Analysts […]
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March 12019
Canadian Dollar Weakens on Q4 Slowdown, Current Account Gap
The Canadian dollar tumbled against some of its major rivals to kick off the new month on Friday. The loonie fell on reports that economic growth slowed in the fourth quarter, and new data that found the nationâs current account deficit widened during the October-to-December period. The buck has had a rough start to 2019, and many analysts anticipate the pain to continue. According to Statistics Canada, the Q4 gross domestic product (GDP) advanced at an annualized […]
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March 12019
Euro Drops on Mixed Eurozone Data, Rallies on Weak US Data
The euro today dropped lower against the US dollar in the late Asian session before rallying higher on upbeat German retail sales data for January. The EUR/USD later declined despite the release of mixed German unemployment data, then rallied higher into the American session. The EUR/USD currency pair today hit a low of 1.1350 in the early European session before rallying to a high of 1.1408 in the American session. The release of the German retail sales data […]
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March 12019
EUR/USD Trims Gains Caused by Poor US Data
EUR/USD attempted to rally today on the back of US macroeconomic reports, virtually all of which were worse than expected. The currency pair was unable to hold onto gains for long, though, and has retreated to trade just slightly above the opening level by now. Due to the government shutdown, the December estimates for personal income and spending as well for core PCE inflation came out just today, while January data was only available […]
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