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Day: March 20, 2019
March 202019
Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices
The Canadian dollar fell against most of its major peers on Wednesday, with the exception of the US dollar. That was surprising, considering that fundamentals did not look particularly bad for the currency. Prices for crude jumped more than 1% on Wednesday after a surprise big drop of US oil inventories. Usually, the Canadian currency follows moves of prices for Canada’s major export commodity. But that was not the case today. […]
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March 202019
NZ Dollar Jumps Sharply After Release of New Zealand GDP
The New Zealand dollar was falling for the most part of the Wednesday’s session, rebounding for a short time after the US Federal Reserve turned out to be surprisingly dovish. Yet the kiwi jumped sharply by the end of the session after the release of New Zealand’s gross domestic product. Statistics New Zealand reported that GDP rose 0.6% in the December quarter from the previous three months following the 0.3% growth in the September quarter. The actual reading […]
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March 202019
US Dollar Falls As âPatientâ Fed Signals One Rate Hike in 2019
The US dollar is holding steady midweek as the Federal Reserve concluded its two-day policy meeting. The US central bank did not pull off any surprises on Wednesday, signaling that it has become far more bearish than in previous meetings, whether it relates to policy maneuvers or economic estimates. According to the Fedâs new dot plot, Chair Jerome Powell confirmed that it plans just one […]
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March 202019
Pound Slumps on Short Brexit Extension Request, Mixed CPI Data
The British pound today fell to new 1-week lows against the US dollar after the UK Prime Minister confirmed that she had requested for a short Brexit extension from the EU. The GBP/USD currency pair had traded sideways before heading lower amid mostly neutral investor sentiment and a positive reaction to the latest UK inflation report. The GBP/USD currency pair today fell from an opening high of 1.3270 to a weekly low […]
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March 202019
Yen Soft Following Release of BoJ Minutes
The Japanese yen fell slightly today following the release of minutes of the monetary policy meeting by the Bank of Japan. The BoJ released minutes of its January monetary policy meeting today. The notes showed that policy makers planned to maintain the current extremely accommodative policy in the near future: Most members shared the recognition that, although it would take time to achieve the 2 percent price stability target, it was appropriate to persistently […]
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March 202019
Australian Dollar Rebounds Despite Domestic Data
The Australian dollar behaved similarly to its New Zealand counterpart today, falling intraday but rebounding later. Domestic macroeconomic data was not good, but that did not prevent the Aussie from bouncing. The six month annualized growth rate in the WestpacâMelbourne Institute Leading Index fell from â0.37% in January to â0.56% in February. The report commented: The signal from the Index is certainly consistent with the weak momentum in the second […]
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March 202019
NZ Dollar Trims Losses After Falling Earlier
The New Zealand dollar fell today, being one of the weakest currencies on the Forex market together with its Australian counterpart. The currency has trimmed its losses by now, though. Latest macroeconomic data released in New Zealand was decent, giving no additional reasons for the kiwi to go down. Global Dairy Trade Price Index showed an increase by 1.9% that followed the increase by 3.3% in the previous reporting period. Statistics New […]
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March 202019
EUR/USD Surges After Dovish FOMC
EUR/USD jumped sharply today after the Federal Open Market Committee turned out to be even more dovish than was expected. While most market participants were expecting the FOMC to reduce the planned number of interest rate hikes in 2019 from two to one, the Committee actually dropped plans to hike rates this year entirely. US crude oil inventories shrank by as much as 9.6 million barrels last week […]
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