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Day: March 28, 2019
March 282019
US Dollar Mixed on Q4 GDP Revision, Weekly Jobless Claims
The US dollar is mixed against a basket of currencies towards the end of the trading week. The greenback is making sense of an influx of economic data that paints an interesting portrait of the country: a slowing economy, but a solid labor market. On Thursday, the Bureau of Economic Analysis (BEA) revised its fourth-quarter gross domestic product (GDP) figures. The US government found that the national economy advanced at a slower pace in the October-to-December period, from 2.6% […]
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March 282019
Euro Falls Almost to 3-Week Lows on Weak German Inflation Data
The euro today fell for the third straight session against the US dollar driven by the risk-off investor sentiment and weak confidence prints released by the European Commission. The EUR/USD currency pair’s fall was further accelerated by the weak German inflation data and the resurgent US dollar, which rose driven by the flight to safety conditions. The EUR/USD currency pair today fell from a session high of 1.1260 to a low of 1.1213 in the American session and was near these […]
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March 282019
Slower-than-Expected US Economic Growth Doesn’t Prevent Slide of EUR/USD
US economic growth was slower than previously estimated. But that did not prevent EUR/USD from extending its decline. Market analysts speculated that the reason for the currency pair’s poor performance was the outlook for the European Central Bank to keep interest rates low for an extended period of time. Additionally, the poor data increased demand for the greenback as a safe haven. US GDP rose 2.2% in Q4 2018 according to the final […]
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March 282019
NZ Dollar Stable Despite Deteriorating Consumer Sentiment
The New Zealand business confidence deteriorated this month, and the outlook was rather pessimistic. Yet surprisingly, the New Zealand dollar held its ground versus most-traded rivals, even gaining on European currencies like the euro and the Swiss franc. The ANZ Business confidence fell to -38.0 in March from -30.9 in April. The activity outlook dropped to 6.3 to 10.5. The report commented on the state of New Zealand’s economy: The New Zealand economy is delicately […]
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March 282019
AUD/NZD Is Sitting in a Very Interesting Spot
The decline of the New Zealand dollar versus the Australian dollar dragged the currency pair at the resistance of an established descending trend. Long-term perspective After the New Zealand dollar depreciated, following the RBNZ dovish tone, the price got under the important resistance zone made up by the 1.04528 level and the trend-line of the descending trend which started around the 1.10 level, on October 10, 2018. Along its way from 1.10, the price consolidated five intermediary […]
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