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Day: April 22, 2019
April 222019
Chinese Yuan Weakens Despite Positive Outlook, Continued Stimulus
The Chinese yuan is sliding against some of its most traded currency pairs on Monday. As the yuan weakens, there is a positive outlook for the Chinese economy on the market, particularly as Beijing confirming that it will continue to support its economy. Industrial metals steel and iron ore soared on Monday after the federal government announced it would maintain stimulus support for the worldâs second-largest economy. The Communist Party said it would […]
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April 222019
EUR/USD Rises in Post-Holiday Light Trading
Markets opened after the Easter holiday, but there were few events to move them. The only macroeconomic indicator released in the United States today missed expectations, and it may be partially responsible for today’s rally of EUR/USD. Existing home sales were at the seasonally adjusted annual rate of 5.21 million in March, missing market expectations of 5.31 million. Furthermore, the February figure got a negative revision from 5.51 million to 5.48 […]
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April 222019
Norwegian Krone Follows Crude Oil in Rally
The Norwegian krone gained today as the rally of crude oil boosted currencies of oil exporting nations. The Norway’s currency rallied today for the same reason as the Canadian dollar — the sharp rise of crude oil prices. Norway exports crude oil, therefore it was positive news for the nation’s currency. There are concerns, though, that risk aversion can hurt risk-sensitive commodity currencies, including the krone and the loonie. USD/NOK slipped from 8.5127 […]
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April 222019
Canadian Dollar Rises with Crude Oil, Gains Capped by BoC Worries
The Canadian dollar gained against other most-traded currencies today thanks to a big rally of crude oil. But gains were limited as market participants were waiting for the monetary policy decision of Canada’s central bank later this week. According to a report from Washington Post, today the United States will announce an end of Iran sanctions waivers. The USA implemented sanctions against the Middle Eastern nation some time ago but […]
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April 222019
USD/SEK Edges Higher Ahead of This Week’s Riksbank Meeting
The Swedish krona fell against the US dollar a bit today ahead of this week’s monetary policy meeting of Sweden’s central bank. The Riksbank will hold a monetary policy meeting on Thursday. While market participants do not expect changes to interest rates, they will watch the accompanying press conference for hints about the central bank’s plan. Another important event will be the release of the Producer Price Index and retail sales data […]
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April 222019
CAD/JPY Trying to Keep Things on Track
The Canadian dollar versus the Japanese yen is testing the important ex-solid support area of 83.81. Long-term perspective After bouncing from the currently solid support area of 81.38 on March 25, 2019, the price managed to surpass the 82.71 intermediary level and extend just under 83.81. There it entered a consolidation phase that lasted until almost the middle of April, on April 12, 2019, the price attempting to break the bearish barrier at 83.81 […]
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