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Day: September 27, 2019
September 272019
Swedish Krona Drops After Disappointing Retail Sales Report
The Swedish krona dropped today after the release of an extremely disappointing retail sales report. Swedish retail sales rose 2.7% in August, year-on-year, down from a negatively revised 3.9% increase registered in the previous month and missing the consensus forecast of a 3% gain. It was the slowest rate of growth since February. Month-on-month, the indicator showed no change on a seasonally adjusted basis following a negatively revised increase of 0.3% in July and failing to meet […]
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September 272019
Japanese Yen Weak After Tokyo Inflation Misses Expectations
The Japanese yen was largely weak after the release of disappointing inflation data, though managed to stay about flat versus the vulnerable Great Britain pound. The Tokyo core Consumer Price Index rose 0.5% in September, year-on-year. That was a slower rate of growth than 0.6% predicted by analysts and 0.7% registered in August. Month-on-month, the index fell 0.2%. USD/JPY edged up from 107.83 to 107.90 as of 16:35 GMT today. EUR/JPY […]
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September 272019
US Dollar Rallies on Better-Than-Expected Durable Goods, Personal Income
The US dollar is gaining on several major currencies at the end of the trading week, buoyed by strong economic data, including personal income and durable goods. In addition to the better-than-expected numbers, it was recently reported that high-level talks between US and China trade representatives will restart on October 11. According to the US Census Bureau, new orders for manufactured durable goods advanced 0.2% in August, beating the market forecast of a 1.2% decline. […]
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September 272019
Euro Rallies From 2-Year Lows Despite Weak Eurozone Releases
The euro today rallied from new 2-year lows against the US dollar hit during the Asian session despite the release of mostly weak macro data from across the eurozone. The EUR/USD currency pair pulled back from the lows as the greenback fell boosting the single currency and helping it rally despite the weak euro area fundamentals. The EUR/USD currency pair today fell to a new 2-year low of 1.0905 in the Asian […]
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September 272019
Sterling Mixed After Positive Data, Dovish Comments for BoE Member
The Great Britain pound was mixed today after the consumer confidence improved unexpectedly and a member of the central bank’s Monetary Policy Committee made dovish remarks. The GfK UK Consumer Confidence rose slightly to -12 in September from -14 in the previous month. Market participants were not expecting any change. But the report was not as good as it might seem as Joe Staton, Client Strategy Director at GfK, said: More […]
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September 272019
USD/JPY Advancing Towards 108.89
The US dollar versus the Japanese yen currency pair bounced off 106.92 and is now trying to conquer 108.12. Long-term perspective After the low printed at 104.44, the price reached the resistance area marked by the upper line of the descending channel, the lower line of the angled rectangle, and the 108.12 level. It pierced the upper line of the descending channel only to stop at the lower line of the angled rectangle. At that moment the expectations were for the descending line to become […]
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September 272019
EUR/USD Rises as US Consumer Spending & Core PCE Inflation Slow
EUR/USD gained today after the release of US macroeconomic data that showed that growth of consumer spending slowed sharply and core PCE inflation also slowed unexpectedly. Not all reports were bad. The consumer sentiment improved much more than was anticipated. But that did not prevent the currency pair from continuing to rally. Personal income and spending rose in August. Income rose 0.4%, matching expectations, […]
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