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Day: March 29, 2019
March 292019
Sterling Reverses Gains as MPs Reject May’s Brexit Proposal Again
The Great Britain pound was rising initially today but reversed gains after UK Prime Minister Theresa May failed yet again to convince the Parliament to vote for her Brexit plans. There were plenty of economic reports released in the United Kingdom today but they had limited impact on the market as the investors’ attention was focused on the Brexit vote. May presented a stripped-down version of the EU-UK Brexit Withdrawal Agreement to the Parliament […]
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March 292019
Canadian Dollar Rallies on GDP, Energy Prices
The Canadian dollar is rallying to finish the trading week, buoyed by economic growth beating market expectations and rising energy prices. Despite the multiple bearish forecasts regarding the loonieâs future, the currency recorded an impressive 2% to 3% gain against its most-traded rivals in the first quarter of 2019. According to Statistics Canada, the Canadian economy expanded 0.3% in January, which is more than the 0.1% growth economists had penciled in. Most […]
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March 292019
Euro Struggles to Rally Despite Upbeat German Retail Sales Data
The euro today hit new 3-week lows against the US dollar despite the release of upbeat German retail sales data in the early European session. The EUR/USD currency pair spiked lower shortly after the release of positive German jobs data, then recouped its losses to trade sideways. The EUR/USD currency pair today spiked to a three week low of 1.1209 before recovering and rallying almost to its daily high of 1.1238. The currency […]
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March 292019
Aussie Trims Gains After Rallying on Risk Appetite, Domestic Data
The Australian dollar gained today thanks to the mild risk appetite on the Forex market and positive domestic macroeconomic data. By now, though, the currency has trimmed gains versus some of its rivals. The Reserve Bank of Australia reported that private sector credit increased by 0.3% in February from the previous month. Analysts had expected the same 0.2% rate of growth as in January. Year-on-year, the indicator rose 4.9%. AUD/USD was up from 0.7076 […]
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March 292019
Japanese Yen Attempts to Rebound After Falling on Market Sentiment, Domestic Reports Helpful
Japan’s macroeconomic data released during the Friday’s trading session was good for the most part, but that did not prevent the Japanese yen from falling due to mild risk appetite on the Forex market. Yet currently, the yen is trying to rebound and has basically erased losses versus some of its major rivals, including the euro and the Great Britain pound. The Tokyo core CPI rose 1.1% in February from a year […]
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March 292019
NZ Dollar Recovers Despite Underwhelming Housing Data
The New Zealand dollar was recovering today after the previous sharp sell-off with the help of the market sentiment, which was somewhat improving as was demonstrated by gains of Asian stocks. The rebound was limited, though, and was nowhere near significant enough to erase the Wednesday’s huge losses. Domestic macroeconomic data was not helpful to the currency. The Statistics New Zealand reported that the seasonally adjusted number of building consents increased by 1.9% […]
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March 292019
EUR/USD Moves in Range After Attempting to Bounce
EUR/USD attempted to bounce today after three consecutive days of decline. Some market analysts speculated that the reason for that was the inflation data miss. But the currency pair was actually moving in a range after the US releases, failing to push further up. Personal income rose 0.2% in February after falling 0.1% in January and climbing 1.0% in December. Personal spending rose 0.1% in January following the 0.6% drop registered […]
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