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Day: August 1, 2019

August 1
2019

Australian Dollar Suffers from Risk Aversion

The Australian dollar tumbled today. While macroeconomic data, both domestic and from China, was not particularly bad, risk aversion on the Forex market hurt the Australian currency. The Australian Industry Group Australian Performance of Manufacturing Index climbed to 51.3 in July from 49.4 in June. Climbing above the 50.0 level, the indicator suggests that the sector returned to expansion. The import price index rose 0.9% in the June quarter from the previous three […]

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August 1
2019

US Dollar Higher on Fed Rate Cut Fallout, Capped by New Trump Tariffs

The US dollar is gaining on several major currency rivals in public trading on Thursday. But the US Dollar Index is heading in the opposite direction, falling below 98.5. The Federal Reserve’s cut to interest rates, President Donald Trump’s new tariffs on China, and economic data are driving the greenback’s trade. President Trump announced on Twitter that he will impose 10% tariffs on an additional $300 billion of Chinese goods, effective […]

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August 1
2019

Japanese Yen Rallies Despite Negative Domestic News

The Japanese yen climbed against other most-traded currencies today despite domestic news that was not favorable to the currency. Some market analysts explained the rally by risk aversion among investors.   Markit reported that the Jibun Bank Japan Manufacturing Purchasing Managers’ Index was at 49.4 in July, almost unchanged from June’s figure of 49.3. Being below the neutral 50.0 level, the indicator was showing a decline of the sector. […]

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August 1
2019

Pound Falls to 2.5-Year Lows, Ignores BoE and Rallies on USD Weakness

The British pound today fell to 2.5-year lows against the much stronger US dollar, which was boosted by yesterday’s FOMC rate decision. The GBP/USD currency pair was barely affected by the Bank of England‘s interest rate decision before rallying higher later driven by the weak greenback. The GBP/USD currency pair today fell to a low of 1.2081, a level last witnessed in January 2017 before rallying to a high of 1.2170 and was trading near […]

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August 1
2019

Euro Falls to Multi-Year Lows on FOMC, Recovers on Weak US Data

The euro today recovered most of its daily losses against the US dollar following the release of weak US manufacturing data in the early American session. The EUR/USD currency pair had fallen to a multi-year low in the Asian session following the Federal Reserve‘s hawkish rate cut before rallying higher later. The EUR/USD currency pair today fell to a low of 1.1027, which was last seen in May 2017, before rallying back almost […]

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August 1
2019

NZD/CAD Under the Weekly Support of 0.8692

The New Zealand dollar versus the Canadian dollar currency pair is in a spot from where it could go either way for a considerable amount of time and pips. Long-term perspective After falsely piercing 0.8692, the low of 0.8628 favored the bulls who managed to bring the price very close to the local support level of 0.8915. The next step would have been a consolidation and the continuation of the ascending move, as the bulls had the situation in their favor. […]

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August 1
2019

EUR/USD Continues to Fall After FOMC Interest Rate Cut

EUR/USD continued to fall after yesterday’s huge slump caused by the monetary policy decision of the Federal Open Market Committee. While the FOMC cut interest rates, such decision was expected, and markets were disappointed by lack of hints at additional cuts in the future. By now, the currency pair has trimmed its losses, though. Initial jobless claims were at the seasonally adjusted level of 215k last week, up from 207k the week before. […]

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