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Day: May 27, 2019
May 272019
Yen Flat as Trump Visits Japan
The Japanese yen was largely flat against most of its major peers on Monday. While market participants were somewhat nervous after US President Donald Trump said that the United States are not ready for a trade deal with China, the US dollar was the beneficiary of the resulting risk aversion, not the yen. Trump was visiting Japan on Monday, hoping to reach a trade deal that will reduce the US […]
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May 272019
Chinese Yuan Rises on Confidence, CBIRC Warning of âHeavy Lossesâ for Bears
The Chinese yuan is rising to kick off the trading week, buoyed by stronger confidence in the worldâs second-largest economy and a strong warning from the nationâs top banking regulator for the currency bears. But the rally was capped by disappointing economic data and worsening trade relations with the US. Speaking at a Beijing finance forum on Monday, the head of the China Banking and Insurance Regulatory Commission (CBIRC) said that he does not anticipate a persistent and long-term […]
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May 272019
US Dollar Rallies After Trump Says USA “Not Ready” for Trade Deal
The US dollar rallied against its major peers today after news about the US-China trade war reinforced the view that the world’s two biggest economies will not reach a trade deal anytime soon. US President Donald Trump said today that the USA are not ready to make a deal with China: I think they probably wish they made the deal that they had on the table […]
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May 272019
Pound Faces Sell-Off After European Elections
The Great Britain pound faced a sell-off again after the European elections over the weekend. The outcome of the voting showed a surge of support for the Brexit party, increasing chances of a “no-deal Brexit”. Nigel Farage’s Brexit Party won majority of votes in every region of England, except for London, securing 29 of 70 seats in the European Parliament. It is important to note that the pro-Remain Liberal Democrats came second with 16 seats. Britain’s two […]
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May 272019
Euro Drops Despite Pro-EU Parties Retaining Majority in EU Elections
The euro today fell against the US dollar despite pro-EU parties securing majority of the Parliamentary seats in the recently concluded election. The EUR/USD currency pair today fell from its Asian session highs and dropped to daily lows where it traded sideways for the rest of the day. The EUR/USD currency pair today fell from a high of 1.1215 in the Asian session to a low of 1.1185 in the early American session and was near these lows at the time […]
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May 272019
Bulls Back in the Loop on NZD/CAD
The New Zealand dollar versus the Canadian dollar appreciated after confirming the important weekly 0.8692 support. Long-term perspective After the drop from 0.9811, that began as the bulls were not able to keep the gains above 0.9175, the price reached the 0.8692 important support area, an area that on the weekly chart shows its strength by keeping in check most of the bearish endeavors of driving the prices under it. Given the will of the bulls to keep […]
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