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Day: May 23, 2019
May 232019
Yen Strong as Trade Wars Continue to Hurt Market Sentiment
The Japanese yen climbed against most major currencies today as the trade war between the United States and China continued to cause risk aversion on markets. Japan’s macroeconomic data was disappointing, but as it often happens, the currency paid little attention to domestic economic reports. China yet again blamed the USA for the failure of trade negotiations as Ministry of Commerce spokesperson Gao Feng said today: If the US would like to keep […]
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May 232019
Canadian Dollar Weakens as US-China Trade War Overshadows Upbeat Data
The Canadian dollar is weakening against several major currency rivals as investor fears over the escalation in the US-China trade war overshadowed upbeat economic data. Despite the disappointing performance midway through the second quarter, the loonie is still in positive territory on the year. On the sales front, it was expansion across the board. According to Statistics Canada, retail sales rose 1.1% in March, up from 1% in February. March automobile sales […]
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May 232019
Euro Rallies From Multi-Year Lows as US Data Disappoints
The euro today rallied from multi-year lows in the American session after key US data disappointed and US Treasury yields dropped to multi-year lows. The EUR/USD currency pair had fallen to lows last seen in May 2017 following the release of multiple weak releases from Germany and the eurozone earlier today. The EUR/USD currency pair today rallied from a low of 1.1106 in the mid-European session to a high of 1.1180 at the time of writing. The currency pair […]
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May 232019
US & Eurozone Data Poor; EUR/USD Dips, Attempts to Rebound Later
EUR/USD dipped intraday as macroeconomic indicators in the eurozone were disappointing for the large part, with data from France was the only one providing positive surprises. The currency pair is attempting to rebound as US data was not good as well, but so far the EUR/USD still trades below the opening level. Seasonally adjusted initial jobless claims were at 211k last week, almost unchanged from the previous week’s unrevised […]
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