Breaking News

Day: August 15, 2019

August 15
2019

Chinese Yuan Mixed on Weaker Industrial Output, Surging Home Prices

The Chinese yuan is having a mixed trading session against multiple currencies, driven by varied economic data. The biggest story for China was its July industrial production being worse than what the market had expected, though it was somewhat offset by soaring housing prices in the world’s second-largest economy. The yuan may not be able to strengthen against a basket of currencies until the trade war is finally over. […]

Read more
August 15
2019

Euro Falls on Upbeat US Retail Sales and China Retaliation Fears

The euro today fell against the US dollar during the American session following the release of upbeat advance US retail sales report, which boosted the greenback. The EUR/USD currency pair gave up most of its earlier gains amid a deluge of positive data from the US docket. The EUR/USD currency pair today rallied to a high of 1.1158 in the mid-European session before falling to a low of 1.1134 in the American session and was near these lows […]

Read more
August 15
2019

Swiss PPI Falls Less than Expected, Franc Soft

The Swiss franc was soft today even though the Producer Price Index fell last month less than was expected. Switzerland’s Federal Statistical Office reported that the PPI fell 0.1% in July from the previous month. That is compared with the predicted drop of 0.2%. The index dropped 0.5% in June. USD/CHF rose from 0.9734 to 0.9743 as of 11:46 GMT today. EUR/CHF gained from 1.0841 to 1.0863. If you […]

Read more
August 15
2019

Surprising Growth of Britain’s Retail Sales Bolster Sterling

The Great Britain pound gained against other most-traded currencies today after Britain’s retail sales rose unexpectedly last month. The threat of a no-deal Brexit continues to hang over the currency, but the sterling largely ignored it today, paying more attention to the positive data. Britain’s Office for National Statistics reported that retail sales increased 0.2% in July from the previous month. That was a total surprise to market participants […]

Read more
August 15
2019

Australian Dollar Gets Boost from Very Good Employment Report

The Australian dollar rallied today, though the currency has trimmed its gains by now. The Aussie got a boost from the employment report that came out much better than was expected. The Australian Bureau of Statistic reported that employers added 41,100 jobs in the period from June to July after shedding 2,300 in the previous month. That was a far bigger increase than 14,200 predicted by analysts. Gains were registered […]

Read more
August 15
2019

AUD/CAD Rides the Path to 0.9100

The Australian dollar versus the Canadian dollar currency pair bottomed at the 0.8900 psychological level and now rallies towards a bearish area. Long-term perspective The drop that started from the confluence zone of 0.9222 with the upper line of the descending channel on July 23, 2019, managed to print a full-fledged impulsive wave that reached the weekly support of 0.8900. The latter, alongside the lower line of the descending channel, was a practical spot for the sellers to book their […]

Read more
August 15
2019

EUR/USD Drops After US Retail Sales Beat Expectations

EUR/USD fell on Thursday, declining for the third day in a row. The reason today’s decline were US retail sales that beat expectations. Philadelphia Fed manufacturing index fell from 21.8 in July to 16.8 in June. Still, it was above the consensus forecast of 10.1. (Event A on the chart.) Retail sales climbed by 0.7% in July. Ahead of the report, analysts had predicted the increase to be the same as in June — 0.3%. (Event A on the chart.) NY Empire […]

Read more