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Day: June 13, 2019
June 132019
Sterling Rallies As Johnson Floors Rivals in 1st Round, Later Falls
The Sterling pound today rallied against the US dollar in the mid-London session as Boris Johnson floored his opponents in the first round of voting within the Conservative Party. The GBP/USD currency pair had fallen earlier today as markets reacted to yesterday’s defeat of a motion to eliminate the possibility of a hard Brexit. The GBP/USD currency pair today fell to a low of 1.2661 before rallying to a high of 1.2708 following Johnson’s win before falling back almost to its […]
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June 132019
Chinese Yuan Weakens on Falling Auto Sales, Sluggish US Investment
The Chinese yuan is weakening against major currency rivals on Thursday after new data painted a grim picture of the worldâs second-largest economy. The trade war, which appears to be at a standstill, is seeping to a whole host of areas in Beijing, impacting economic growth and causing officials to hit the panic button. In the backdrop of the chaos is the yuan nearing toward the 7 threshold against the buck. According to the Ministry of Commerce, foreign direct investment (FDI) […]
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June 132019
EUR/USD Flat Below 1.13
EUR/USD attempted to rally today but failed and is now trading about flat below the psychologically important 1.13 level. There were no particularly important macroeconomic releases today, either in the United States or in the eurozone. Tomorrow, US retail sales will draw the most attention, being considered a relatively major release. Import prices dropped 0.3% in May, matching forecasts exactly, after increasing 0.1% in the previous month. Export […]
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June 132019
Swiss Franc Rallies on Risk Aversion, Ignores SNB
The Swiss franc rallied today on the back of risk aversion on the Forex market. The currency largely ignored the monetary policy meeting of the Swiss National Bank and somewhat disappointing domestic macroeconomic data. As was widely expected, the SNB left its monetary policy unchanged, keeping interest rates in the negative territory. The central bank announced a new benchmark rate to replace the target range for the three-month Libor: The Swiss National Bank is today introducing the SNB […]
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June 132019
Australian Dollar Weak After Release of Employment Data
The Australian dollar was weak today, falling for the seventh consecutive trading session against the euro, following the release of employment data in Australia. While the report was not entirely bad, the market preferred to focus on the bad part. The Australian Bureau of Statistics reported that the number of employed people in Australia rose by 42,300 in May from April. That is a far bigger figure than 16,000 predicted by experts. The increase was registered in both […]
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June 132019
Yen Rallies After Attack on Two Oil Tankers in Gulf of Oman
The Japanese yen rallied today after two oil tankers were supposedly attacked in the Gulf of Oman, leading to a surge of risk aversion on markets. Currently, the currency has trimmed its gains. According to reports, the ships were supposedly attacked with “some sort of shell”. Japan’s Ministry of Economy, Trade and Industry said that both tankers were carrying “Japan-related cargo”. Iran’s Foreign Minister Mohammad Javad Zarif said “suspicious […]
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