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Day: April 24, 2019
April 242019
Euro Falls on Rising US-German Yield Spread and Weak German IFO
The euro today fell for the second straight session against the US dollar as the German business climate deteriorated more than expected. The EUR/USD currency pair’s decline was further accelerated by the risk-off market sentiment triggered by falling equity indices earlier today. The EUR/USD currency pair today fell from a session high of 1.1224 to hit a low of 1.1180 in the early American session before heading lower at the time of writing. The currency pair opened […]
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April 242019
Canadian Dollar Plunges As BOC Abandons Bias for Future Rate Hikes
The Canadian dollar is sliding midweek after the central bank removed its bias about future increases to interest rates as the economic slowdown intensifies. This has left the market betting that there will not be a rate hike until at least sometime next year. While it did pledge to adapt monetary policy to incoming data, it does not anticipate substantial growth anytime soon. On Wednesday, Bank […]
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April 242019
NZ Dollar Follows Australian Dollar in Decline
The New Zealand dollar dropped today, following the Australian dollar in decline. While today there were no events specific for the currency of New Zealand, market analysts pointed out that moves of the Aussie and the kiwi usually correlate, and this can explain why the New Zealand dollar behaved similarly to its Australian counterpart during the current trading session. Of course, the kiwi has its own negative factor in the form of the outlook for an interest […]
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April 242019
Aussie Sinks After Inflation Misses Expectations
The Australian dollar sank today after inflation data missed market expectations, fueling speculations about a potential interest rate cut from the Reserve Bank of Australia. The RBA reported that the Consumer Price Index was unchanged in the March quarter of this year after rising 0.5% in the December quarter of the previous year. Market participants were hoping for at least a 0.2% increase. The trimmed mean CPI rose 0.3%, while economists were […]
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April 242019
Consolidations on NZD/CAD
The New Zealand dollar versus the Canadian dollar is sitting in a very interesting spot. Long-term perspective The current phase is a consolidation that started at 0.9255, marking at least a pause of the rally etched at 0.8321. It is important to take note of the landmarks that the price projected during this upwards move. These can be categorized into two important levels and two intermediary levels. The important ones are represented by 0.8692 […]
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