Breaking News

Day: June 24, 2019

June 24
2019

Swiss Franc Extends Last Week’s Rally Against the US Dollar

The Swiss franc today extended last week’s rally against the US dollar as a cautious mood in the European stock markets drove investors to the safe-haven currency. The USD/CHF currency pair also benefitted from the greenback’s slump following the dovish FOMC rate decision on Wednesday as the Fed hinted at future rate cuts. The USD/CHF currency pair today dropped from a high of 0.9783 in the early European session to a low of 0.9705 in the American session and was near […]

Read more
June 24
2019

USD/TRY Trades above 5.80, Bouncing After Falling to Almost 5.70

The USD/TRY currency pair rebounded after falling earlier today. The previous rally of the Turkish lira was a result of many positive factors. The main reason for the lira’s rally was the victory of the opposition Nation Alliance Party over the ruling Justice and Development Party at the rerun of the municipal elections in Istanbul on Sunday. Additionally, domestic macroeconomic data was also beneficial to the currency. The manufacturing confidence index increased to 102.5 in June from 98.9 in the previous month. […]

Read more
June 24
2019

Canadian Dollar Mixed on Economic Outlook, Crude Oil Prices

The Canadian dollar was mixed today, rising against some rivals while falling versus others. Factors that were driving the currency today were the outlook for the nation’s economic growth and movement of crude oil prices. Statistics Canada will release a report on gross domestic product on Friday. Ahead of the release, analysts predicted that it will show a slowdown of economic growth to 0.2% last quarter from 0.5% in the previous three […]

Read more
June 24
2019

Chinese Yuan Slips Despite Higher Small Business Lending, Upbeat Bankers

The Chinese yuan is falling against several major currency rivals to start the trading week, despite positive economic data that should lift the yuan. The central bank confirmed that small business lending surged in May, leading bankers to be optimistic on the world’s second-largest economy as the second quarter comes to an end. With the US-China trade war still lingering in the background, can Beijing finally turn a corner? According to the People’s Bank […]

Read more
June 24
2019

Euro Firm in Face of Worsening German Business Climate

The German business climate worsened this month. But while the euro fell versus commodity currencies, it surprisingly managed to log substantial gains versus majors. The German Ifo Business Climate declined from 97.9 in May to 97.4 in June, in line with market expectations. It was the lowest reading since November 2014. The report made following comments about the result: Companies have grown increasingly pessimistic about the coming […]

Read more
June 24
2019

Aussie Gains on Lowe’s Comments, Stabilizing Market Sentiment

The Australian dollar gained against its most-traded rivals today after the central bank’s chief questioned the efficiency of further monetary policy easing. The currency also got support from the stabilizing market sentiment. Philip Lowe, Governor of the Reserve Bank of Australia, was speaking today. During the speech, he questioned the effectiveness of easing monetary policy further: RBA Governor Lowe: It Is Legitimate To Ask How Effective Monetary […]

Read more
June 24
2019

CAD/JPY Tries to Conquer 81.38

The Canadian dollar versus the Japanese yen currency pair gives the signs of a change in direction from a very important area. Long-term perspective Since the high of 85.23, the price is in a downwards movement, but there are two amendments with this apparent bearish profile. The first is that the channel is not steep enough to be classified as a convinced bearish one. A counterargument for this could be that the price managed to pierce […]

Read more