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Day: August 19, 2019
August 192019
Pound Falls on Calls for General Election, Yellowhammer Leak
The Brtish pound today fell against the US dollar despite putting up a strong fight as the Labour Party leader Jeremy Corbyn ramped up calls for a general election to unseat the Conservative Party. The GBP/USD currency pair fell at the start of today’s session, then recouped all its losses as it carried over last week’s strength, but fell to new lows in the London session. The GBP/USD currency pair today rallied to a high […]
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August 192019
Canadian Dollar Weakens As Foreign Investors Dump Securities
The Canadian dollar is sliding against major currency rivals to start the trading week. The loonieâs performance on Monday is being driven primarily by the decline in foreign acquisitions of Canadian investments. Aside from that, there is very little news and economic data coming out of Ottawa, prompting traders to rely on the status quo of the Canadian economy, which is bearish. According to Statistics Canada, foreign investors sold $4 billion of Canadian […]
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August 192019
Euro Firm Even as Inflation & Current Account Miss Expectations
The euro was firm against other most-traded currencies today despite rather weak domestic macroeconomic data released over the trading session. The currency has trimmed its gains versus the US dollar by now but otherwise remained strong. Eurostat reported that the eurozone annual inflation rate was at 1.0% in July, down from 1.3% in June, according to the final estimate. Market participants were expecting the same reading as the preliminary […]
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August 192019
Positive Market Sentiment Hurts Appeal of Yen
The Japanese yen found a limited demand from investors today as they were in a relatively positive mood, reducing the appeal of safe currencies. Japan’s trade deficit widened but, as it often happens, domestic macroeconomic data had a small impact on the currency. Japan’s trade balance logged a deficit of Â¥0.13 trillion in July, up from Â¥0.03 trillion in June. It was in line with analysts’ forecasts of a Â¥0.15 trillion gap. The People’s […]
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August 192019
Positive Economic Data & Risk Sentiment Don’t Help NZ Dollar
The New Zealand dollar was rather soft against other most-traded currencies today despite positive domestic macroeconomic data. The positive market sentiment also did not provide much aid, though it helped the kiwi to perform better versus safer currencies. Statistics New Zealand reported that the input Producer Price Index rose 0.3% in the June quarter from the previous three months, while the output PPI rose […]
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August 192019
NZD/CAD One Step Further Towards 0.8400
The New Zealand dollar versus the Canadian dollar currency pair crystallized the expected lower high, thus staying true to continuing its way to the 0.8400 psychological level. Long-term perspective After piercing the important 0.8692 weekly support on July 31, 2019, and confirming it as resistance on August 07, 2019, the price touched the 0.8514 support level and retraced — in order to consolidate the decline — to 0.8577, confirming the latter as resistance and, by doing so, printing […]
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