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Day: August 26, 2019
August 262019
US Dollar Mixed on Data, US-China Trade Uncertainty
The US dollar is mixed against a basket of currencies on Monday as investors weigh new economic data and consider the latest developments in the US-China trade saga. With volatility in financial markets and growing geopolitical uncertainty, it is apparent that investors are unsure how to trade in the final week of August. During the annual Group of Seven (G7) summit, President Donald Trump announced that the US and China would be returning to the negotiating […]
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August 262019
Euro Falls on Weak German IFO Data, Positive Trade Headlines
The euro today fell against the US dollar as investors bought the greenback in response to President Donald Trump‘s positive comments on US-China trade talks overnight. The EUR/USD extended its losses following the release of weak German IFO survey results in the early European session before trading sideways into the American session. The EUR/USD currency pair today fell from an initial high of 1.1153 to a low of 1.1097 in the mid-American session and was near these […]
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August 262019
AUD/CAD After the Strong Retracement from 0.8900
The Australian dollar versus the Canadian dollar currency pair dropped to and then recovered sharply from the 0.8900 psychological level. The question is now: is this a sign of the bulls taking control? Long-term perspective After the impulsive wave that started from the confluence area of the upper line of the descending channel with the 0.9222 level, the price began a consolidative phase from the 0.8900 psychological level. Of course, the traders were eyeing the end of this […]
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August 262019
NZ Dollar Reacts to US-China Trade War Developments
The New Zealand dollar was weak initially today but has managed to rebound by now. While domestic macroeconomic data was negative, the main reason for the initial drop and the subsequent rebound were developments in the US-China trade war. On Friday, markets were rattled by the new round of escalation of the trade spat between the United States and China. China responded to the US plans of new tariffs on Chinese goods with its own levies, and US […]
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August 262019
EUR/USD Drops as US-China Tensions Calm Down
EUR/USD fell today as the US-China trade tensions calmed down a bit. While the currency pair climbed on Friday after the trade conflict flared up yet again, the market sentiment improved today as US and China’s officials used more peaceful rhetoric. Durable goods orders climbed 2.1% in July. That is compared to the increase of 1.9% in June and the predicted gains of 1.4%. On Friday, a report on new home sales was released, showing […]
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