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Day: June 21, 2019
June 212019
Canadian Dollar Reacts Negatively to Retail Sales Report
The Canadian dollar declined against its most-traded rivals, being the weakest major currency today. One of the reasons for the currency’s awful performance was unexpectedly slow growth of Canadian retail sales. Statistics Canada reported that retail sales rose just 0.1% in April from March. Core retail sales (those that exclude volatile components, namely motor vehicle and parts dealers) also rose 0.1%. Ahead of the report, analysts […]
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June 212019
NZ Dollar Ends Session & Week Mixed, Waits for RBNZ
The New Zealand dollar was heading to end the Friday’s trading session mixed. The same goes for the whole week as the currency gained on some rivals but fell versus others. The next week should be very important for the kiwi and can help establish a more clear trend. Factors that were affecting markets as a whole were somewhat conflicting, which can explain why the New Zealand currency could not demonstrate a clear […]
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June 212019
Swiss Franc Strong as Conflict Between USA & Iran Heats Up
The Swiss franc was generally strong today as tensions between the United States and Iran continued to escalate. Yesterday, Iran shot down a US drone. The USA were planning to attack in response today, but US President Donald Trump called off the attack 10 minutes before the start. He twitted: ….On Monday they shot down an unmanned drone flying in International Waters. We were […]
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June 212019
Pound Falls on Political Uncertainty and Weak UK Data, Later Rallies
The British pound today fell to its daily lows in the mid-London session as investors reacted to the release of the weak UK public sector finances data. The GBP/USD currency pair was also weighed down by the political uncertainty in the UK as investors deal with the prospect of a hard Brexit. The GBP/USD currency pair today fell from an Asian session high of 1.2725 to a low of 1.2642 in the mid-London session before retracing most of its losses. The currency pair […]
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June 212019
Japanese Yen Soft After CPI Beats Expectations, Manufacturing PMI Misses Forecasts
The Japanese yen was weak for the most part today despite the better-than-expected inflation print and risk aversion among investors. Meanwhile, Japan’s manufacturing sector unexpectedly continued to contract. The Statistics Bureau reported that the Japan national core Consumer Price Index rose 0.8% in May from a year ago. While it was a little smaller than the April increase of 0.9%, it was a better reading than a 0.7% gain predicted […]
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June 212019
Aussie Struggles to Keep Gains Caused by Good PMIs
The Australian dollar attempted to rally today following the release of good PMI prints. But while the Aussie managed to keep gains against some most-traded rivals, like the Japanese yen and the Great Britain pound, it reversed the rally versus others, like the US dollar and the euro. The Commonwealth Bank Flash Manufacturing PMI rose to 51.7 in June from 51.0 in May. The Commonwealth Bank Flash Services PMI climbed to 53.3 this month […]
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June 212019
Euro Weakens on Manufacturing Contraction, Falling Consumer Confidence
The euro is tumbling against its major currency rivals at the end of the trading week, driven by disappointing manufacturing activity numbers for June and an underconfident consumer. The euro has been having a tough week, especially after President Donald Trump targeted the central bank for sending the euro lower by hinting at additional monetary stimulus to support the eurozone economy. The IHS Markit Eurozone Manufacturing Purchasing Managersâ Index (PMI) clocked in at 47.8 in June, up […]
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June 212019
Weekly Support at 0.8692 Breached on NZD/CAD
The New Zealand dollar versus the Canadian dollar currency pair pierced a major support in the context of a well established bearish profile. Long-term perspective The price, after confirming the ex local support area at 0.8915 as resistance — which, pertaining to a consolidative phase following the rally that began on October 8, 2018, canceled the prospects of one in the near future — began a descent that tried to find support at 0.8692, but failed to. The flop in confirming […]
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June 212019
EUR/USD Rallies on Markit PMIs
EUR/USD rallied today, rising for the third consecutive trading session. While the dovishness of the Federal Reserve continued to support the currency pair, PMIs released by Markit today were also helping. Most indicators for the eurozone exceeded expectations, while the US indicators missed forecasts. The better-than-expected US housing data halted the rally but did not make the EUR/USD pair back off. Both Markit manufacturing PMI and Markit services PMI fell […]
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