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Day: April 17, 2019
April 172019
NZ Dollar Drops After Inflation Misses Expectations
The New Zealand dollar dropped on Wednesday after domestic inflation data disappointed traders, increasing bets on an interest rate cut by the Reserve Bank of New Zealand. Statistics New Zealand reported that the Consumer Price Index rose 0.1% in the March quarter of 2019 from the previous three months, the same as in the December quarter of 2018. Market participants were counting on a bigger increase of 0.3%. Year-on-year, the CPI rose 1.5%. Yesterday, the GlobalDairyTrade Price […]
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April 172019
Australian Dollar Mixed After Positive China’s GDP
The Australian dollar was mixed on Wednesday. The currency was flat against such rivals as the US dollar and the Japanese yen after swinging back and forth between gains and losses, fell versus the euro, but gained on the Swiss franc. The National Bureau of Statistics of China reported that China’s gross domestic product rose 6.4% in the first quarter of 2019, year-on-year, demonstrating the same rate of growth as in the fourth quarter of 2018. Analysts had predicted […]
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April 172019
British Pound Hits New Weekly Lows As UK Inflation Disappoints
The Sterling pound today fell against the US dollar as UK inflation missed expectations to extend the pound’s losses against the greenback. The GBP/USD currency pair was also weighed down by the deadlock in Brexit negotiations between Theresa May‘s government and the opposition party. The GBP/USD currency pair today fell from its Asian session high of 1.3067 to low of 1.3028 in the American session and was trading near these lows at the time of writing. The currency […]
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April 172019
US Dollar Mixed on Weak Industrial Output, Lower Trade Deficit
The US dollar is mixed against a basket of currencies midweek as the buck finds direction on the latest release of key economic data. Investors are combing through industrial production numbers, trade deficit data, and the national mortgage market that could provide insight into the real estate industry. Last month, industrial production declined, driven primarily by a drop in mining output. According to the Federal Reserve, industrial output, which combines numbers […]
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April 172019
USD/JPY Reached the 112 Target
The US dollar versus Japanese yen managed to use the 110 area as a support and jump to 112, opening new possibilities. Long-term perspective The pair is in an ascending move from 106.92. After stagnating at the 112 resistance on the beginning of March 2019, the profit taking phase of those who bought from 106.92 and subsequent resistance levels that tuned into support — mainly 108.12 and 108.90 — caused a decline that tested the double support established […]
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April 172019
EUR/USD Rallies Intraday, Trims Gains Later
EUR/USD rallied intraday but has trimmed its gains later. US macroeconomic data beat expectations, adding to the downside momentum of the currency pair. US trade balance deficit shrank to $49.4 billion in February, down from $51.1 billion in January. That is instead of rising to $53.5 billion as analysts had predicted. (Event A on the chart.) Wholesales inventories rose 0.2% in February. That is compared to a 0.4% increase predicted by analysts […]
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