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Day: April 3, 2019

April 3
2019

Euro Rallies on Upbeat Eurozone PMI and Retail Sales Data

The euro today rallied higher against the US dollar in the early European session following the release of upbeat PMI data from across the eurozone by IHS Markit. The EUR/USD currency pair later rallied higher in the American session following the release of weak US ADP employment data and a weak US dollar. The EUR/USD currency pair today rallied from an opening low of 1.1200 to a high of 1.1254 before dropping and later rallying higher. The currency […]

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April 3
2019

Swiss Franc Mixed on Higher Inflation, Slumping Manufacturing

The Swiss franc was mixed midweek as the currency was data-dependent against some of its major rivals. Investors combed through numbers that found higher-than-expected inflation, lower-than-expected manufacturing activity, and commendable retail sales figures. According to the Swiss Federal Statistics Office (FSO), retail sales rose 0.3% in February, up from the previous month’s 0.1% decline. They also beat market forecasts of a 0.2% drop. However, a measurement of retail […]

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April 3
2019

Pound Rallies as Theresa May Meets Jeremy Corbyn

The Great Britain pound gained on most other major currencies today as British Prime Minister Theresa May was meeting with opposition Labour leader Jeremy Corbyn. Market participants were hoping that the meeting between May and Corbyn will end the Brexit deadlock. If compromise is reached, it may mean softer Brexit, perhaps involving a customs union between the United Kingdom and the European Union. Additionally, it […]

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April 3
2019

Australian Dollar Recovers after Tuesday’s Slump Thanks to China’s, Domestic Data

The Australian dollar recovered today after yesterday’s drop caused by Australia’s central bank. Macroeconomic data, both domestic and Chinese, was the major cause for the currency’s rally today. The Australian Bureau of Statistics reported that retail sales grew 0.8% in February from January, seasonally adjusted. That is more than two times the forecast increase by 0.3%. The seasonally adjusted trade balance widened to A$4.8 billion in February from A$4.35 […]

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April 3
2019

NZ Dollar Gets Lifted by Positive News from China

The New Zealand dollar rallied today, lifted by positive news from China. China’s service sector expanded more than was expected, while rumors circulated that the United States and China are close to a trade deal. The Caixin China Services PMI climbed from 51.1 in February to 54.4 in March. That is compared to the average forecast of an increase to just 52.3. As for economic data in New Zealand itself, there were just […]

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April 3
2019

Big Test for Canadian Dollar vs. Japanese Yen

On CAD/JPY, the price managed to rally to an area which not only served as a solid support in the second half of 2018, but also primed as an important boundary since the earliest times of the pair. Long-term perspective After the retracement from 78.22 at the beginning of 2019, the price prevailed in reconquering, in two months, two important support areas: 81.38 and 83.81, respectively. Because of this achievement, the profit-taking phase which followed caused a drop from 85.23 that […]

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April 3
2019

EUR/USD Gains on Positive Market Sentiment, Ignores US Data

EUR/USD rallied on the positive market sentiment caused by the optimistic outlook for the Sino-US trade talks. Currently though, the currency pair has trimmed its gains. While the EUR/USD pair attempted to gain on poor US macroeconomic releases, the attempts failed and the pair continued to move lower, though remained above the opening level. ADP employment rose by just 129k in March, missing the consensus forecast of 184k. It was the smallest increase 18 months. […]

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