The Australian dollar was firm today after the Reserve Bank of Australia kept interest rates unchanged and showed no signs of turning more dovish than it already was. Australia’s economic data was mixed, not giving the Aussie a reason to go in any specific direction. The RBA left its main interest rate unchanged at 1%, as was widely expected. It talked in the statement about the global economy and risks from […]
Read moreEUR/USD crashed today but has managed to rebound by now. The currency pair moved sharply higher after the release of US manufacturing indices. The reports were contradicting as the data from Markit showed that the US manufacturing sector was expanding, albeit just barely, while the ISM indicator showed that the sector turned from expansion into contraction. Apparently, markets paid more attention to the negative portion of the data, allowing the euro […]
Read moreThe Great Britain pound slumped on Monday, dragged down by the mix of surprisingly poor manufacturing data and yet more Brexit headlines that suggested the United Kingdom is likely to leave the European Union without a trade deal. The seasonally adjusted IHS Markit/CIPS Manufacturing Purchasing Managers’ Index dropped to 47.4 in August from 48.0 in July, reaching the lowest level since July 2012. It was a surprise to experts as they were expecting […]
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