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Day: April 9, 2019
April 92019
Pound Trades in Wide Range Driven by Brexit Headlines
The Sterling pound today traded in a wide range against the US dollar driven by multiple Brexit headlines as the deadline for Britain’s exit from the EU looms. The GBP/USD currency pair today traded in an almost 100-pip range as investors reacted to different headlines most of which indicated that a Brexit deal was not close to being done. The GBP/USD currency pair today traded in a range marked by a high of 1.3122 and a low of 1.3032 and was near […]
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April 92019
Canadian Dollar Weakens on IMF Forecast, Crude Oil
The Canadian dollar is weakening on Tuesday after the International Monetary Fund (IMF) published a bearish report on the Canadian economy. The loonie endured additional pressure on tumbling energy prices, which is never good news for a country whose main export is crude oil. On Tuesday, the IMF slashed its growth estimate for Canada, projecting that the gross domestic product (GDP) will expand just 1.5% in 2019. This is down […]
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April 92019
Norwegian Krone Rallies Despite Slowing Economic Growth
The Norwegian krone rallied against the US dollar today even as Norway’s economic growth slowed. Statistics Norway reported that the nation’s economy demonstrated growth by 0.6% in the period between December and February, down from 0.9% in the previous reporting period. The sharp decrease in the production of electricity was the main reason for the slowdown. Now, traders wait for inflation data due for release tomorrow. USD/NOK fell from 8.5434 to 8.5258 as of 12:36 GMT today. […]
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April 92019
Australian Dollar Gets Boost from Housing Data & Crude Oil
The Australian dollar rose against its most-traded rivals today, supported by domestic macroeconomic data and other positive fundamentals. There were negative factors as well, but positive ones had ultimately bigger impact. The Australian Bureau of Statistics reported that the seasonally adjusted number of lending commitments to household rose 2.6% in February following the 2.3% drop in January. Analysts had predicted a drop by 3.0%. Market analysts speculated that the recent […]
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