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Day: April 10, 2019
April 102019
US Dollar Ends Wednesday Soft Despite CPI, FOMC Minutes
The US dollar ended Wednesday’s trading week in red basically across the board. That is surprising considering that domestic fundamentals look positive for the US currency. The US Bureau of Labor Statistics reported that the Consumer Price index rose 0.4% in March, exceeding the median forecast of 0.3%. But the core CPI was up by just 0.1%, the same as in February and missing the average projection of a 0.2% increase. The minutes of the Federal Open Market […]
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April 102019
Chinese Yuan Dips Despite Bullish IMF, Exports Forecasts
The Chinese yuan is trading lower against some of its currency rivals midweek. The worldâs second-largest economy received a bit of renewed confidence this week as many analysts and investors are optimistic that Beijing could have a strong showing both this week and for the rest of 2019. Is China set to host the running of the bulls again? According to the International Monetary Fund (IMF), China is set to grow 6.3% this year, […]
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April 102019
Euro Falls Against US Dollar on Dovish ECB Rate Decision, Later Recovers
The euro today fell to new 2-day lows against the US dollar following the dovish interest rate decision by the European Central Bank and the Governor’s comments. The EUR/USD currency pairs decline was further accelerated by the mixed US inflation data released shortly after the ECB decision to cement the pair’s losses. The EUR/USD currency pair today fell from an intraday high of 1.1287 to a low of 1.1228 before retracing some of its losses at the time […]
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April 102019
Norwegian Krone Jumps After Inflation Data
The Norwegian krone climbed today, reaching the highest level for the year against the euro. The reason for the sharp rise was the better-than-expected inflation print released during the trading session. Statistics Norway reported that the Consumer Price Index rose 2.9% in March from the same month a year ago. The core CPI rose 2.7%, beating the average forecast of 2.5%. Month-over-month, the CPI rose 0.2%, while the core CPI rose 0.3%. The positive inflation […]
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April 102019
Australian Dollar Firm, Boosted by Domestic Fundamentals
The Australian dollar demonstrated good performance today as news from Australia was good, providing support to the currency. Judging by the gains of commodity currencies and lack of demand for safer ones, the market sentiment was relatively optimistic, which is surprising considering that recent news from around the world gave no reason for optimism. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 1.9% in March following the 4.8% drop registered in February. The report […]
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April 102019
Yen Soft Despite Cautious Market Sentiment, Mixed Data Doesn’t Help
The Japanese yen was soft today, failing to profit from its role as a safe haven, even as investors were nervous after the International Monetary Fund downgraded the global growth outlook and the United States showed willingness to enter a trade war with the European Union. Mixed domestic macroeconomic data did not help the currency. Lending by Japanese banks increased 2.4% in March, year-on-year, whereas analysts had expected the same 2.3% […]
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April 102019
EUR/CAD Caught Between Two Levels
The advance of the euro vs. Canadian dollar is postponed by the indecision that came to be after the pair fell between the lines of two significant levels. Long-term perspective The retreat that started on January 2, 2019, from 1.5640 brought the price under the major resistance level of 1.5200, which is also a psychological level. It then continued until hitting 1.4900 and made a low at 1.4878 on February 25, 2019. From there […]
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April 102019
EUR/USD Settles Slightly Higher Despite ECB & FOMC
Two events should have had a big impact on the EUR/USD currency pair on Wednesday — the monetary policy meeting of the European Central Bank (event A on the chart) and the monetary policy minutes of the Federal Open Market Committee. Yet surprisingly, the pair settled a little higher despite both events turning out slightly negative for it. While EUR/USD was falling after each of the events, the pair was rebounding quickly after dipping. US CPI […]
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