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Day: July 16, 2019
July 162019
Canadian Dollar Mixed on Higher Auto Sales, Crashing Energy Prices
The Canadian dollar is mixed against a basket of currencies on Tuesday as investors sift through new motor vehicle sales data and foreign securities purchases for May. The loonie was sent lower on crashing energy prices, which is bad news for a resource-rich market. Traders will now wait for June inflation numbers that are expected to be lower than in May. According to Statistics Canada, new motor vehicle sales surged […]
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July 162019
Sterling Crashes to New 27-Month Lows on Hard Brexit Fears
The Sterling pound today fell to new 27-month lows against the US dollar as markets reacted to a poor UK jobs report and the uncertain British political environment. The GBP/USD currency pair was also adversely affected by comments from the two remaining Conservative Party candidates saying that the Irish backstop was dead. The GBP/USD currency pair today fell from an opening high of 1.2519 to a 27-month low of 1.2396 in the American session and was […]
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July 162019
Aussie Firm After RBA Monetary Policy Meeting Minutes
The Australian dollar gained against the majority of its most-traded counterparts today, with the exception of the US dollar. That is despite the Reserve Bank of Australia released policy minutes, which suggested that the central bank maintained easing bias. The RBA released minutes of the monetary policy meeting on July 2, when the central bank decided to lower interest rates. The notes explained the decision: Members judged that a further reduction in the level of interest […]
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July 162019
NZ Dollar Rises on In-Line CPI, Loses Gains vs. US Dollar
The New Zealand dollar gained against most of its major peers today. While the kiwi has lost gains versus its US counterpart by now, it was still trading higher against other peers. Market analysts attributed the rally to the positive consumer inflation print, though some of them argued that the data is not as good as might seem at first glance. Statistics New Zealand reported that the Consumer […]
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July 162019
EUR/USD Sinks After German Economic Sentiment, US Retail Sales
EUR/USD sank today. The currency pair started the decline during the early European trading session and continued to fall after the release of the worsening German economic sentiment (event A on the chart) and better-than-expected US retail sales. Retail sales, both headline and underline, rose 0.4% in June from the previous month, whereas analysts had expected an increase of 0.1%. Both received a negative revision to the increase in May from 0.5% to 0.4%. (Event B on the chart.) […]
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