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Day: September 25, 2019
September 252019
Pound Crashes As Parliament Resumes Amid Brexit Uncertainty
The pound today crashed against the US dollar amid heightened Brexit uncertainty after the UK Parliament resumed its sessions following yesterday’s Supreme Court decision. The GBP/USD currency pair fell by over 130 pips as investors expressed their lack of confidence in the UK’s future by dumping the Sterling pound. The GBP/USD currency pair today fell from an opening high of 1.2487 to a low of 1.2349 in the American session as the UK Parliamentary session was […]
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September 252019
Swiss Franc Rallies As Investors Pour Into Safe-Haven Currency
The Swiss franc is rallying midweek against multiple major currencies as investors are pouring into the safe-haven currency. With the central bank refusing to follow other institutions in easing monetary policy, traders were enthusiastic about the nationâs ability to weather the coming economic storm clouds, especially after the government slashed economic growth projections for 2019. Recently, the Swiss government reduced its 2019 growth forecast by one-third, citing uncertainty […]
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September 252019
Japanese Yen Mixed After BoJ Minutes, Domestic Data
The Japanese yen did not demonstrate a clear trend today, falling versus the US dollar and the Swiss franc, gaining on the Great Britain pound, and staying flat versus the euro. Monetary policy minutes of Japan’s central bank reiterated the possibility of additional monetary easing. Domestic macroeconomic data was mixed. The Bank of Japan released minutes of its July 29–30 monetary policy meeting. The notes reaffirmed that the central bank is prepared […]
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September 252019
NZ Dollar Stable After RBNZ Refrains from Interest Rate Cut
The New Zealand dollar was trading either flat or a little higher against most-traded currencies today. The Reserve Bank of New Zealand did not cut interest rates at today’s meeting but signaled that a cut is possible in the future. The trade balance worsened more than was expected. The RBNZ left its main interest rate at 1% as was largely expected by market participants. The central bank did not signal […]
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September 252019
AUD/USD Might Be Preparing a Steep Turn
The Australian dollar versus the US dollar currency pair fell under the 0.6800 psychological level, but still, there are reasons to expect an upside movement. Long-term perspective The rally that started at 0.6700 and which is part of a correction of the descending trend paused at the major support of 0.6858. As it tried to conquer it, consolidating above it, the price failed and dropped under the 0.6800 psychological level. While such behavior could be […]
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September 252019
EUR/USD Sinks as Markets Discard Trump Impeachment Threat
EUR/USD sank today as markets shrugged off the threat of impeachment of US President Donald Trump. Yesterday’s hardline comments from Trump about China put markets in a mild risk-averse mood. The currency pair accelerated its decline after the release of better-than-expected housing data in the United States. New home sales were at the seasonally adjusted annual rate of 713k in August, up from the revised July rate of 666k (635k before the revision). […]
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