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Day: May 15, 2019
May 152019
Loonie Dips Intraday on Inflation Data, Recovers to Settle Higher
The Canadian dollar declined intraday as some of Canada’s inflation indicators missed expectations. But the currency rebounded later, ending the Wednesday’s trading session above the opening level. Statistics Canada reported that the Consumer Price Index rose 0.4% in April from the previous month and 2.0% from a year ago, without adjustments for seasonal variations. That was within expectations. But some of the Bank of Canada preferred measures of core inflation missed […]
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May 152019
Swiss Franc Retreats From Safe-Haven Bolster As Foreign Investment Declines
The Swiss franc is sliding against some of its major currency rivals midweek. For the last week, the franc has been advancing as investors seek out safe-haven assets during the escalation in the US-China trade spat. The franc has ostensibly come back down to earth on recent economic data. Switzerland has witnessed foreign direct investment slump in the last year, says a new report. According to the 2019 AT Kearney Foreign Direct Investment […]
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May 152019
Yen Rallies Against the Dollar on Weak US Retail Sales, Later Drops
The Japanese yen today rallied against the US dollar driven by the risk-off sentiment, which dominated markets from the early European session. The USD/JPY currency pair extended its losses in the early American session following the release of disappointing US retail sales report. The USD/JPY currency pair today fell from a high of 109.69 in the European session to a low of 109.13 in the early American session, but had recovered most of its losses at the time […]
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May 152019
Aussie Under Pressure from Wage Inflation Miss, Chinese News
The Australian dollar was under pressure today from the wage inflation miss. News from China did not do the currency any favors either. The Australian Bureau of Statistics reported that the Wage Price Index rose 0.5% in the March quarter from the previous three months, the same as in the December quarter. Economists had promised a bit bigger inflation of 0.6%. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 0.6% in May. That […]
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May 152019
Euro Hits New Weekly Lows on Mixed Eurozone Q1 GDP Data
The euro today fell to new lows against the US dollar following the release of disappointing German and eurozone GDP growth data in the early European session. The EUR/USD currency pair failed to rally higher following the release of weak US retail sales data in the early American session as investor risk appetite remained subdued. The EUR/USD currency pair today dropped from a high of 1.1217 in the European session to a low of 1.1176 in the early American session […]
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May 152019
Chinese Yuan Suffers from Poor Data, Sino-US Trade Quarrel
The Chinese yuan declined against the US dollar today after almost all Chinese macroeconomic indicators released today missed expectations. The developments in the US-China trade negotiations were not good for the currency as well. The National Bureau of Statistics of China reported that fixed asset investment rose 6.1% in the first four months of this year. That is compared to the 6.3% increase logged in the previous reporting period and 6.4% predicted by analysts. Industrial […]
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May 152019
Bulls Vanquished on NZD/CAD
In font of a big chance, the bulls were not able to manage the situation on the New Zealand dollar versus the Canadian dollar and missed out the opportunity to direct the price towards the previous high, at 0.9281. Long-term perspective As the pair advanced from the 0.8321 low, the price formed a consolidation structure with the local support at 0.8915. It then tried to gain ground above the 0.9175 weekly resistance, but after making a high at 0.9281 the price was […]
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May 152019
EUR/USD Settles Flat, Recovering from Intraday Drop
EUR/USD was falling today but jumped sharply at 14:00 GMT. The rally allowed the currency pair to settle flat. There were plenty of macroeconomic reports in the United States today, and most of them were disappointing. Seasonally adjusted retail sales fell 0.2% in April instead of rising at the same rate as analysts had predicted. The sales were up 1.7% in March. (Event A on the chart.) NY Empire State Index climbed from 10.1 […]
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