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Day: July 4, 2019
July 42019
Euro Falls on Weak Eurozone Retail Sales Amid Thin Holiday Trading
The euro today fell against the US dollar following the release of weak retail sales data for the euro area amid a subdued market environment. The EUR/USD currency pair traded in a tight range for most of today’s session as US markets remained closed for the Independence Day celebrations. The EUR/USD currency pair today fell from a high of 1.1295 in the Asian session to a low of 1.1271 and was within this range at the time of writing. The currency pair briefly […]
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July 42019
Chinese Yuan Gains on Deregulation to Boost Foreign Investment
The Chinese yuan is strengthening against several major currencies on Thursday as the federal government announced it would be deregulating a whole host of industries to encourage foreign investment. This is part of Beijingâs efforts to open its market to the rest of the world and curb the growing number of companies fleeing the worldâs second-largest economy amid the trade war. Speaking at the World Economic Forum in China, otherwise known as the Summer Davos, Premier Li Keqiang confirmed […]
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July 42019
Swiss Franc Strong After Inflation Beats Expectations
The Swiss franc was strong during today’s subdued trading. Domestic inflation data released over the trading session was supportive to the currency. Switzerland’s Federal Statistical Office reported that the consumer price index was stable in June compared with the previous month after rising 0.3% in the previous month. Despite the slowdown, the actual reading was better than a drop by 0.1% predicted by analysts. Year-over-year, the index rose 0.6%. USD/CHF […]
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July 42019
Australian Dollar Falls After Retail Sales Miss Expectations
The Australian dollar dropped today after retail sales rose less than was expected. The Australian Bureau of Statistics reported that retail sales rose 0.1% in May from April after falling at the same rate in the previous month. Market participants were counting on a slightly bigger increase by 0.2%. AUD/USD slipped from 0.7028 to 0.7023 as of 11:33 GMT today, retreating after the rally to the daily high of 0.7047. EUR/AUD gained from […]
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