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Day: May 8, 2019
May 82019
Chinese Yuan Weakens Amid Tariffs, Trade Data
The Chinese yuan is weakening against a basket of currencies midweek as global markets are still reeling from the incoming US tariff hikes on billions in Chinese imports. Beijing has promised it will retaliate, despite reportedly being closer to a new trade agreement. Investors are also combing through new trade data that surprised market forecasts. President Donald Trump shocked global markets this week when […]
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May 82019
Euro Gains Limited on Trade Tensions Despite Draghiâs Optimism
The euro today traded in a sideways range against the US dollar despite attempting to break higher driven by positive German releases and the upbeat speech from Mario Draghi. The EUR/USD currency pair’s gains remained capped by the trade tensions between the US and China, which made investors cautious about buying risky assets such as the single currency. The EUR/USD currency pair today traded in a range marked by a high of 1.1213 and a low of 1.1187 and was […]
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May 82019
NZ Dollar Licks Wounds After RBNZ Cuts Interest Rates
The New Zealand dollar sank today after the Reserve Bank of New Zealand cut interest rates. By now, the currency managed to erase a big chunk of losses, though it is still trading below the opening level. Ahead of the central bank’s decision, analysts were divided whether it would cut rates at this meeting or later. It turned out that the RBNZ decided to act now, slashing its main interest […]
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May 82019
AUD/JPY and the Decision Moment at 77.47
The Australian dollar versus the Japanese yen currency pair followed its course after confirming the 80.54 resistance and dropped to the 77.47 support, an area from which it has to decide where to go next. Long-term perspective After retracing from the 70.38 low on the start of 2019, the pair oscillated between the 79.41 resistance and the 77.47 major support. The resistance looked like is keeping the bulls in check, turning down every attempt that […]
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May 82019
EUR/USD Moves in Range as Sino-US Trade Tensions Escalate
EUR/USD was attempting to rally intraday but retreated and is moving in range currently. The first half of this trading week was light on macroeconomic data in the United States, and traders were focused on escalating trade tensions between the USA and China as it seems that the trade negotiations are collapsing. US crude oil inventories decreased by 4.0 million barrels last week instead of rising by 1.1 million barrels as analysts had […]
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