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Day: June 19, 2019
June 192019
Euro Soft as Domestic Data Hurts
The euro was soft today. While the currency managed to gain on the US dollar thanks to the dovish Federal Reserve, unfavorable domestic macroeconomic data prevented the euro from rising against other most-traded rivals. The German Producer Price Index fell 0.1% in May from the previous month. That is compared to the median forecast of a 0.2% increase and the 0.5% gain registered in April. The eurozone current account surplus shrank to â¬21 billion in April […]
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June 192019
Canadian Dollar Rises Sharply as Consumer Inflation Beats Expectations
The Canadian dollar was firm today after nation’s consumer inflation accelerated and beat analysts’ expectations. The rally of crude oil prices likely also helped the currency. Statistics Canada reported that the Consumer Price Index rose 2.4% in May, year-over-year, after rising 2.0% in April. The gains were broad-based, including higher prices for food and durable goods, while prices for gasoline declined. Month-on-month, the index was up 0.4%, without […]
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June 192019
US Dollar Mixed on Dovish, Optimistic Federal Reserve
The US dollar was mixed against its major rivals midweek as analysts and investors are trying to make heads and tails of the Federal Reserve‘s latest policy announcement. The US central bank left interest rates unchanged, but it confirmed that it will “closely monitor” the numbers to determine if rates need to be lowered. Despite the dovish signals, Fed officials are still optimistic about the US economy, sticking […]
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June 192019
Pound Rallies After UK Inflation Meets Consensus Estimates
The British pound today rallied higher in the early London session following the release of the latest UK inflation data, which was in line with consensus estimates. The GBP/USD currency pair extended yesterday’s gains and rallied into the American session to print new weekly highs driven by positive investor sentiment. The GBP/USD currency pair today rallied from a low of 1.2541 in the early London session to a high of 1.2626 in the American session and was headed […]
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June 192019
AUD/USD After Reaching 0.6858
The Australian dollar versus the US dollar hits the first target, at 0.6858. The upcoming move could be very interesting. Long-term perspective The pair confirmed the important resistance made up by the zone limited in between 0.7055 and 0.7013 and the upper trendline of the descending channel. The confirmation resulted in a decline that reached the major support of 0.6858, which constitutes the first target for the current impulsive wave that the decline represents. The price could print a minor correction, […]
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June 192019
Aussie Mixed-to-Lower After Leading Index Continues to Decline
The Australian dollar was mixed today, falling against some rivals and staying flat versus others, after the country’s leading index continued to decline. According to the report released today: The six month annualised growth rate in the WestpacâMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose slightly from â0.49% in April to â0.45% in May. Westpac Senior […]
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June 192019
Yen Mostly Flat During Directionless Trading
The Japanese yen was flat against most major currencies today, though fell versus the Swiss franc. The trading was somewhat directionless on Wednesday as traders were waiting for a monetary policy announcement from the Federal Reserve. Japan’s Ministry of Finance reported that the trade balance deficit widened from Â¥0.17 trillion in April to Â¥0.61 trillion in May as exports fell, while imports increased. Still, it was a smaller gap than […]
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June 192019
NZ Dollar Rises on Current Account Surplus, Fails to Hold onto Gains
The New Zealand dollar attempted to rally today on the back of a better-than-expected current account reading, but by now the currency has lost its gains and trades below the opening level against most-traded rivals. Statistics New Zealand reported that the current account turned into surplus of NZ$0.68 billion in the March quarter of 2019 from the deficit of NZ$3.49 billion in the previous quarter (without seasonal adjustments). Analysts had expected a smaller surplus of NZ$0.16 […]
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June 192019
EUR/USD Soars as FOMC Patient No More
EUR/USD rose sharply today after the monetary policy announcement from the Federal Open Market Committee. While the FOMC did not change its policy at today’s meeting, the fact that the statement dropped the word “patient” led to speculations that an interest rate cut may happen as soon as the next meeting in July. Furthermore, the projections revealed that about half of the FOMC members anticipate a cut by the end of the year. US crude oil […]
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