Breaking News

Day: March 26, 2019

March 26
2019

Chinese Yuan Mixed As Investors Wait Out Trade Talks

The Chinese yuan is mixed against several major currency rivals on Tuesday as investors hold steady and wait out the US-China trade talks. In the meantime, investors are looking at a myriad of reports to find a short-term trading direction for the currency. How much longer can traders hold out hope for a conclusion to the trade spat between the world’s two largest economies? This week, an American delegation is in Beijing to discuss a trade agreement. Recently, […]

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March 26
2019

Pound Rallies on Positive Sentiment, Drops From Highs

The British pound today rallied higher against the US dollar in the early London session driven by positive investor sentiment despite disappointing UK mortgages data. The GBP/USD currency pair headed lower in the American session even as the UK Parliament prepared for another round of indicative votes on the current Brexit deal. The GBP/USD currency pair today rallied from a low of 1.3158 to a high of 1.3261 in the mid-European session before retracing some of its gains. […]

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March 26
2019

Euro Gains Despite Worsening German Consumer Climate

The euro gained on most other major currencies, with the exception of the Great Britain pound, today as the market sentiment stabilized. The currency managed to keep gains even after the release of a somewhat disappointing macroeconomic report for Germany. The German GfK Consumer Climate logged a figure of 10.4 for April, down from 10.7 for March. Analysts had expected a small increase to 10.8. It was the first decline of the indicator since the start of the year. EUR/USD was […]

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March 26
2019

Japanese Yen Drops as Market Sentiment Stabilizes, BoJ Doesn’t Help

The Japanese yen was the weakest currency on the Forex market today as the risk sentiment stabilized. Releases from the Bank of Japan did nothing to help the currency. The BoJ released Summary of Opinions at the March monetary policy meeting today. The central bank mentioned that the slowdown of other economies can hurt the economy of Japan: While uncertainties regarding overseas economies started to become apparent from around last autumn, slowdowns have materialized. Reflecting […]

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March 26
2019

The USD/JPY Currency Pair Is Apparently Under Bearish Pressure

Last week, the appreciation of the Japanese yen took price under the supportive trendline of the ascending trend that started at the beginning of 2019. Long-term perspective On the daily chart, after the rejection from the 105 support area on January 3, 2019, price undertook an ascending move that recovered most of the depreciation that began from the 114 resistance zone. On this path, the pair confirmed major support areas — 108.12, 108.89 and 110.27 — but failed […]

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March 26
2019

NZ Dollar Weak Despite Trade Surplus

The New Zealand dollar was one of the weakest currencies on the Forex market today, though managed to outperform the Japanese yen. Better-than-expected domestic macroeconomic data failed to bolster the kiwi. Statistics New Zealand reported that the trade balance turned from a deficit of NZ$948 million in January to a surplus of NZ$12 million in February. That was a surprise to analysts, who were expecting a deficit of NZ$200 million. Milk powder, butter, and cheese led the rise […]

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March 26
2019

EUR/USD Fails to Hold onto Gains

EUR/USD stabilized yesterday after Friday’s huge sell-off. Today, the currency pair attempted to keep gains but failed and is trading below the opening level as of now. The pair dropped despite today’s data released in the United States was almost universally disappointing. Both housing starts and building permits fell in February. Housing starts were at the seasonally adjusted annual rate of 1.16 million, down from the January positively revised estimate […]

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