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Day: April 15, 2019
April 152019
Chinese Yuan Weakens As Stimulus Kicks In
The Chinese yuan is weakening to start the trading week as new economic data suggests that the federal government’s stimulus program may finally be seeping into the economy. On Monday, a couple of new reports and forecasts suggest an improvement for the worldâs second-largest economy in recent months after a brutal 2018. With the US-China trade war in its end days, the economy might finally kick into overdrive. The Peopleâs Bank of China (PBOC) reported […]
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April 152019
Factors Affecting New Zealand Dollar During Week of 15-19 April 2019
The New Zealand dollar performed well during the past trading week. What factors will be affecting the currency during the current week? The most important domestic event for the currency of New Zealand should be New Zealand’s Consumer Price Index due for release overnight between Tuesday and Wednesday. Analysts had estimated ahead of the report that quarterly consumer inflation accelerated to 0.3% in the first three months of this year from […]
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April 152019
AUD/USD Trying to Make Important Changes
The Australian dollar versus the US dollar got to an area that surprises the bears, which were convinced that they have the market on their side. Long-term perspective The currency pair was in a well established descending channel that began on January 31, 2018, leaving behind the clear picture that the bears are in well shape. But, after the 0.7055 support level did not gave way, the price cleared the resistance line […]
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April 152019
Swiss Franc Soft amid Risk Appetite, Rising PPI Doesn’t Help
The Swiss franc was soft today amid mild risk appetite on the Forex market. Market analysts speculated that traders were more willing to risk due to hopes for a Sino-US trade deal in the near future. Decent domestic macroeconomic data did not help the Swissie. The Federal Statistical Office reported that the Producer Price Index rose 0.3% in March from the previous month. The report said that “higher prices for petroleum […]
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April 152019
Pound Rises amid Calm Trading, Housing Data Supports
The Great Britain pound rose today in absence of any significant news after the Brexit extension till October 31. Positive domestic macroeconomic data might have helped the currency a bit. The Rightmove House Price Index rose 1.1% in April, the biggest monthly increase in over a year and the biggest gain for this time of year since 2016. The index was up 0.4% in March. The report mentioned the Brexit delay as a positive factor that […]
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April 152019
EUR/USD Settles Flat After Rising Earlier
EUR/USD rallied on Monday but lost its gains later and settled near the opening level. Trading was relatively quiet, with absence of any major events. NY Empire State Index climbed to 10.1 in April from 3.7 in March. Analysts had predicted a smaller increase to 8.1. (Event A on the chart.) Net foreign purchases were at $51.9 billion in February. That is compared to the predicted figure of -$18.2 billion and the January reading […]
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