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Day: July 19, 2019
July 192019
Canadian Dollar Mixed amid Opposing Fundamentals
The Canadian dollar was mixed today, unsure where to go amid opposing fundamentals. While domestic macroeconomic data was very detrimental to Canada’s currency, rising prices for crude oil was a supportive factor for the loonie. Statistics Canada reported that retail sales fell 0.1% in May, declining for the first time in four months. Core retail sales (those that exclude motor vehicle and parts dealers) dropped 0.3%. Analysts […]
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July 192019
USD/TRY Rises as Tensions Between USA & Turkey Flare
The Turkish lira fell against the US dollar today after geopolitical tensions between the United States and Turkey flared. Relations between the two NATO members worsened after Turkey decided to buy Russia’s S-400 missile defense system. Washington was threatening Ankara with sanctions if the deal comes through. It looks like the threats were not idle as the US government announced that it is suspending Turkey […]
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July 192019
US Dollar Rallies As Market Dismisses IMFâs âOvervaluedâ Concerns
The US dollar is finishing the trading week higher against a handful of currencies as the market appears to be moving on from recent comments pertaining to the greenbackâs valuation. With a Federal Reserve bank president discussing the need for action ahead of a crisis and some data to throw in the mix, it has been a fun ride for the dollar this week. For weeks, President Donald Trump has contended that the dollar is too high and that the central […]
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July 192019
Japanese Yen Soft After Data Suggests Economy Weakens
The Japanese yen was generally soft today, though the currency has trimmed losses against some of its rivals by now and even managed to gain on the euro, which itself was very vulnerable. Domestic macroeconomic data, which demonstrated weakening economic activity in Japan, was unfavorable to the yen. The Statistics Bureau of Japan reported that the core Consumer Price Index rose 0.6% in June, year-on-year. While the increase matched analysts’ forecasts, […]
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July 192019
Euro Falls As Fed Reassures Markets of Its Less-Dovish Stance
The euro today fell aggressively against the US dollar reversing most of yesterday’s gains after the New York Federal Reserve rushed to clarify dovish comments made by its President John Williams. The EUR/USD currency pair was also pressured by the weak German producer data released earlier today as well as the resurgent greenback. The EUR/USD currency pair today fell from an opening high of 1.1268 to a low of 1.1217 in the American session and was […]
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