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Day: March 22, 2019
March 222019
Chinese Yuan Mixed As Market Weighs PBOCâs Overhaul to Interest Rates
The Chinese yuan is mixed at the end of the trading week as the market weighs the Peopleâs Bank of China (PBOC)âs long-postponed measure to overhaul interest rates. Investors might also be anxious over new data that found soaring debt levels and rising unemployment in the worldâs second-largest economy could threaten stimulus initiatives. Other reports suggest the US wants Beijing to “double or triple” its offer to purchase American goods has not […]
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March 222019
Japanese Yen Gains, Ignoring Poor Domestic Data
The Japanese yen gained against its most-traded rivals today despite worse-than-expected domestic macroeconomic data. Japan’s core Consumer Price Index rose 0.7% in February from a year ago, while analysts had expected the same 0.8% rate of growth as in January. The Nikkei Flash Japan Manufacturing PMI remained unchanged at 48.9 in March, while experts had predicted an increase to 49.2. USD/JPY dropped from 110.84 to 110.25 as of 13:26 GMT […]
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March 222019
Australian Dollar Mixed After PMI Releases
The Australian dollar was mixed, falling against some rivals but gaining on the euro. Markit released PMIs for manufacturing and services industries today, which were not particularly good. The Commonwealth Bank Flash Manufacturing PMI dropped to 52.0 in March from 52.9 in February, demonstrating a slower rate of expansion. The Commonwealth Bank Flash Services Business Activity Index rose to 49.8 from 48.7. The index remained slightly below the neutral 50.0 […]
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March 222019
Euro Crashes on Disappointing Eurozone PMI Prints
The euro today crashed against the US dollar in the early European session following the release of disappointing PMI data from across the eurozone by IHS Markit. The EUR/USD currency pair’s crash was triggered by the release of disappointing German and eurozone PMI prints, which came in at record lows painting a bleak picture for most eurozone economies. The EUR/USD currency pair today fell from a daily high of 1.1391 to a low of 1.1289 following the weak PMI […]
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March 222019
EUR/USD Sinks After Terrible Data in Eurozone
EUR/USD dropped today as basically all macroeconomic reports for the eurozone released today were bad. US economic data were bad for the most part as well (with the exception of the housing data) but that did not prevent the dollar from gaining on the euro. Flash readings for Markit manufacturing PMI and Markit services PMI were released today. Manufacturing PMI dropped to 52.5 in March from 53.0 in February instead of rising to 53.5 […]
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