Day: March 13, 2019

March 13
2019

Canadian Dollar Strengthens on Rallying Energy Prices

The Canadian dollar is strengthening to a one-week high against its American counterpart midweek on rallying energy prices and slowing US inflation. The bearish domestic outlook is lingering in the background as investors fear that, despite the impressive February jobs report, the national economy is barely expanding, even with the pause on interest rate hikes. Crude prices were supported by two US Energy Information Administration (EIA) reports. The first showed […]

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March 13
2019

New Zealand Dollar Falls During Wednesday’s Trading

The New Zealand dollar behaved similarly to its Australian counterpart today, falling intraday but trimming losses later. Market analysts explained the decline by the sharp drop of major Asian stock indices. As for reports from New Zealand itself, the only macroeconomic indicator released was the food price index. It showed growth by 0.4% in February, without adjustments for seasonal variations. Seasonally adjusted, the index increased 0.7%. The currency will likely […]

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March 13
2019

Australian Dollar Declines with Consumer Sentiment

The Australian dollar fell today, though the currency has rebounded from the day’s lows by now. The possible reason for the decline was deterioration of the consumer sentiment. The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.8% in March after rising 4.3% in February. The report said:   The consumer mood deteriorated in March, sentiment falling to its lowest level since September 2017. With the index moving back below 100, pessimists again outnumber […]

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March 13
2019

Euro Rallies on Positive European Releases and Mixed US Prints

The euro today extended its rally against the US dollar for the fourth consecutive session driven by positive eurozone releases. The EUR/USD’s rally was also boosted by the release of mixed US data and the improved market risk sentiment amid Brexit hopes. The EUR/USD currency pair today rallied from a low of 1.1276 in the early European session to a high of 1.1315 in the American session ahead of today’s crucial Brexit vote. The currency pair traded sideways […]

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March 13
2019

EUR/USD Rises for Fourth Consecutive Session

EUR/USD gained today, rising for the fourth consecutive trading session. Some market analysts explained the rally by US producer inflation, which missed expectations. But other US indicators were good, and it did not seem that macroeconomic data affected the currency pair to a great degree. Other analysts speculated that the euro benefited from the news from Great Britain. The UK Parliament rejected the revised Brexit deal agreed […]

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