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Day: April 2, 2019
April 22019
Chinese Yuan Weakens Despite Bullish Manufacturing Data
The Chinese yuan is weakening against some of its currency rivals on Tuesday, despite a myriad of data that suggests the economy might be rebounding as the year progresses. Should investors be optimistic, or should they maintain a modicum of skepticism? Last month, the manufacturing sector experienced a surprise return to growth, buoyed by the federal governmentâs efforts to stimulate the economy. The Caixin/Markit Manufacturing Purchasing Managersâ Index (PMI) increased to 50.8 in March, beating the median […]
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April 22019
Euro Trades Sideways on Data Divergence, Falls on Dollar Rally
The euro today traded sideways against the US dollar amid a mixed market mood as investors weighed the data divergence between the EU and the US. The EUR/USD currency pair later broke out of its sideways range in the American session as the US dollar recovered. The EUR/USD currency pair today traded in a range marked by a high of 1.1212 and a low of 1.1189 before briefly breaking lower. The currency pair was under pressure from the Asian session […]
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