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Day: September 2, 2019
September 22019
Euro Mostly Little Changed Despite Dismal Manufacturing PMIs
The euro was little changed for the most part on Monday. While the currency fell versus some of its rivals, it managed to gain on the Great Britain pound. Overall, the euro’s performance was fairly good considering that manufacturing indices were rater bad in the most regions of the eurozone, except for France, as well as in the whole eurozone itself. The IHS Markit Spain Manufacturing PMI rose to 48.8 in August from 48.2, exceeding the average forecast […]
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September 22019
Swiss Franc Mixed, Domestic Macros Provide Support
The Swiss franc was somewhat mixed on Monday, rising against some currencies and falling versus others. Domestic macroeconomic data was helpful to the Swissie. Switzerland’s Federal Statistical Office reported that seasonally adjusted retail sales rose 1.4% in July from a year ago versus the expected increase of 0.9% and the 0.7% gain registered in the previous month. The manufacturing Purchasing Managers’ Index edged up to 47.2 in August from 44.7 in July, […]
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September 22019
NZ Dollar Holds Ground, Domestic Data Helps
The New Zealand dollar opened sharply lower against some of its major rivals today but has managed to recover by now. The kiwi also extended its Friday’s gains against several other rivals. Positive domestic macroeconomic data was perhaps one of the reasons for the currency’s decent performance today. Statistics New Zealand reported that the overseas trade index rose by 1.6% in the June quarter from the previous three months. […]
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September 22019
Japanese Yen Reverses Losses in Second Half of Monday’s Session
The Japanese yen performed opposite to riskier currencies today, falling intraday but rebounding later. Whether it is due to US tariffs on Chinese goods kicking in or light volumes on markets due to holiday in the United States resulting in sharp and unpredictable swings, it looks like most currencies reversed their movement in the second half of the Monday’s session. As for Japan’s macroeconomic data, it did not provide any major surprises. The Jibun […]
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September 22019
Aussie Unable to Hold onto Gains Despite Positive Manufacturing Data in China & Australia
The Australian dollar was following moves of the Chinese yuan today, rallying intraday on China’s good manufacturing report, but losing gains later. Australia’s own manufacturing data was pretty good as well. The Australian Industry Group Australian Performance of Manufacturing Index jumped from 51.3 in July to 53.1 in August. The index showed that the already decent expansion was gaining strong momentum. Not all sectors were performing well, […]
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September 22019
Chinese Yuan Gains vs. US Dollar on Surprisingly Good Manufacturing PMI, Loses Gains Later
The Chinese yuan rallied against the US dollar intraday but erased its gains by now. The initial rally was a result of a surprisingly good report about China’s manufacturing from Markit Economics, though government data released over the weekend was nowhere near as good. In fact, USD/CNY rallied just recently. The Caixin China Manufacturing PMI climbed from 49.9 in July to 50.4 in August, bouncing into expansionary territory. That […]
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September 22019
USD/JPY Correcting. First Target at 108.00
The US dollar versus the Japanese yen currency pair is consolidating after confirming the 105.50 support level. Given the strong retracement, expectations are for an extension towards the 108.00 psychological level. Long-term perspective The pair is in a consolidative phase limited by the important support area of 105.50 and the 106.92 resistance, the latter being the technical correspondent of the 107.00 psychological level. Noteworthy is the strong retracement from the 104.44 low, which is printed by a strong […]
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