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Day: September 23, 2019
September 232019
Euro Mixed As Eurozone Data Disappoints Investors
The euro is trading mixed against a basket of currencies to start the trading week. With the latest economic data disappointing investors, the central bank, which announced a new edition of quantitative easing (QE) during last week’s policy meeting, is encouraging eurozone countries to start employing fiscal measures to sustain anemic growth. Can countries stimulate their economies out of a slump? On Monday, the eurozone IHS Markit manufacturing purchasing managersâ […]
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September 232019
Australian Dollar Holds Ground Despite Negative Fundamentals
The week started seemingly bad for the Australian dollar as fundamentals looked rather unfavorable to the currency. Some of the domestic macroeconomic indicators released on Monday were bad, and there was troubling news about China-US trade negotiations. But the Aussie did not perform particularly poorly and even managed to gain on some major rivals. The Commonwealth Bank Flash Manufacturing PMI dropped to 49.4 in September from 50.9 in August. A reading below 50.0 indicates […]
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September 232019
Last Bullish Stance on CADJPY
The Canadian dollar versus the Japanese yen currency pair may have topped at 82.08, but the bulls still got one more card in their sleeve. Long-term perspective After bottoming at 78.49, the price took off in a very convincing manner, conquering the 81.00 psychological level and topping at 82.08, a mark of a very determined bullish profile. But the price was not able to maintain the gains and fell bellow the solid support area at 81.38. […]
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September 232019
EUR/USD Drops on Extremely Disappointing Eurozone PMIs
EUR/USD declined during Monday’s trading session. While the fact that Chinese officials cut short their visit to the United States made market participants question whether the US-China trade negotiations are falling apart, the main reason for the weakness of the currency pair was domestic macroeconomic data. Markit released PMIs for the eurozone today, and all of them came short of expectations. As for US data, both Markit manufacturing PMI and Markit services […]
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