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Day: June 11, 2019
June 112019
Pound Rallies on Upbeat Jobs Data Amid Leadership Concerns
The British pound today rallied higher following the release of upbeat UK jobs data in the early London session despite the political uncertainty in the country. The GBP/USD currency pair’s rally was limited by investor fears that a pro-Brexit leader could succeed Theresa May as Prime Minister and push for a hard Brexit. The GBP/USD currency pair today rallied from an Asian session low of 1.2668 to a high of 1.2728 in the mid-London session before retracing some […]
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June 112019
Canadian Dollar Unable to Keep Momentum From Strong Data
The Canadian dollar is weakening on mixed data on Tuesday. The loonie has been unable to keep the momentum from last weekâs stellar economic data, gradually paring its gains against the greenback on the year. The Canadian buck could further weaken over the summer as the central bank is unlikely to put forward an aggressive normalization strategy until at least after the federal election. On the data front, according to the Canada Mortgage and Housing Corporation (CMHC), […]
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June 112019
US Dollar Flat Following Release of US PPI
The US Dollar index was flat today as the greenback was somewhat directionless during the trading session. Overall though, fundamentals looked really negative for the US currency, meaning that it has room for downside. The US Bureau of Labor Statistics reported that the seasonally adjusted Producer Price Index rose 0.1% in May. While the reading was within market expectations, it was a slowdown from the April’s 0.2% growth. In fact, […]
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June 112019
Euro Firm After Slump of Eurozone Investor Confidence
The euro was relatively firm today following the release of unexpectedly poor eurozone investor confidence print. While the shared 19-nation currency fell versus some of stronger rivals, like the Great Britain pound, it managed to gain on many other most-traded counterparts. The Sentix investor confidence for the eurozone slumped from 5.3 to -3.3 in June. Analysts were expecting a far better figure of 2.3. The report blamed the resumption of trade wars for the slump: […]
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June 112019
Norwegian Krone Declines as Inflation Slows
The Norwegian krone declined today after nation’s inflation slowed unexpectedly last month. Statistics Norway reported that consumer inflation slowed from 2.9% in April to 2.5% in May — the lowest level in a year. Core inflation slowed from 2.6% to 2.3% — the lowest since January. Ahead of the report, analysts had predicted both indicators to stay unchanged. USD/NOK slipped from 8.6537 to 8.6483 as of 8:34 GMT today after rallying to the daily […]
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June 112019
Aussie Falls Despite Positive Market Sentiment, Domestic Data Doesn’t Help
The Australian dollar remained soft today, extending yesterday’s decline against many rivals. The Australian currency, together with its New Zealand counterpart, was moving in opposition to the general market sentiment, which was positive and supportive to riskier currencies. Mixed domestic macroeconomic data was not helping the Aussie. National Australia Bank reported that business conditions fell from +3 to +1 in May. In contrast, business confidence rose […]
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