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Day: July 12, 2019
July 122019
Australian Dollar Firm Despite China’s Trade Data
The Australian dollar was firm across the board today despite trade data from China, Australia’s biggest trading partner. While China’s trade surplus increased, the report was not necessarily good. China’s trade balance posted a surplus of $50.98 billion in June, up from $41.73 billion in the previous month and $40.91 billion a year ago, reaching the highest level since December of the last year. It was also above […]
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July 122019
US Dollar Mixed on PPI, Index Slips Below 97
The US dollar is mixed against most currencies at the end of the trading week, driven by the latest inflation numbers. The greenback is also finding direction on expectations that the central bank will cut interest rates at the end of the month, according to signals during this weekâs semi-annual testimony in front of Congress and latest Federal Open Market Committee (FOMC) minutes. In June, wholesale prices rose at a modest 0.1%, the Bureau of Labor Statistics (BLS) […]
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July 122019
Euro Rallies on Investor Sentiment, Falls on Weak German Data
The euro today rallied against the US dollar in the Asian session before falling during the European session after the release of weak German data. The EUR/USD currency pair later rallied in the American session following the release of mixed US factory data. The EUR/USD currency pair today rallied to a high of 1.1274 in the late Asian session before dropping to a low of 1.1238 in the mid-European session then reversing most of its losses. The currency pair opened […]
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July 122019
Mexican Peso Resilient Despite Central Bank’s Minutes, Declining Industrial Production
The Mexican peso was relatively stable today despite dovish monetary policy meeting minutes of the nation’s central bank and unfavorable domestic macroeconomic data. Political turmoil was also putting pressure on the currency, which was surprisingly resilient during the current trading session. The Banco de Mexico released minutes of its monetary policy meeting in June when policymakers decided to keep the main interest rate unchanged at 8.25%. Four out […]
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July 122019
NZ Dollar Rallies on Improving Manufacturing, Fails to Keep Gains
The New Zealand dollar was attempting to rally today but failed, trimming its gains against some rivals and erasing them outright against others by now. Domestic macroeconomic data was positive for the currency. The seasonally adjusted BusinessNZ Performance of Manufacturing Index rose to 51.3 in June from 50.4 in May. The report commented on the result: BusinessNZ’s executive director for manufacturing Catherine Beard said that while the sector avoided further deterioration […]
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