Day: September 10, 2019

September 10
2019

Euro Stable Despite Poor Eurozone Data, ECB Policy Outlook

The euro fell a bit versus some rivals but was about flat versus most of them on Tuesday. That was a surprisingly good performance considering that eurozone macroeconomic data released during Tuesday’s session was universally bad. The monetary policy outlook was also negative for the currency. French payrolls employment rose by 0.2% in the second quarter of 2019, slowing from the first quarter’s 0.4% rate of growth and missing the average […]

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September 10
2019

Pound Gets Support from Britain’s Employment Data, Gains Limited by Brexit Concerns

The Great Britain pound rose against some currencies and traded about flat versus others today. British employment data provided support to the currency, but traders were reluctant to buy the sterling as the situation with the Brexit was very unclear. It looked like chances for hard Brexit receded after the queen signed the legislation, making it a law, which will force the government to seek Brexit delay if no deal […]

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September 10
2019

Australian Dollar Rises, Gains Limited

The Australian dollar rose today, though gains were limited. Macroeconomic data in Australia itself as well as in China, its biggest trading partner, was mixed, giving the currency no edge. National Australia Bank reported that indices for both business conditions and business confidence were at +1 in August. While not a terrible result by itself, it was a decline from +3 for business conditions and from +4 for business confidence. Alan […]

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September 10
2019

Canadian Dollar Hits Six-Week High on Crude Oil Rally, Strong Housing Data

The Canadian dollar strengthened to a six-week high on Tuesday, driven by a rally in crude oil prices and strong housing data. The Canadian economy, which has been anemic for much of 2019, has enjoyed a string of positive economic reports lately, impressing investors at a time of global volatility. This is good news for the incumbent government with an election about a month away. According to the Canadian dollar, August housing starts climbed 1.9% to 226,600, up […]

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