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Day: October 3, 2019
October 32019
Swiss Franc Mixed As Retail Sales, Manufacturing Slump
The Swiss franc is mixed against currency competitors on Thursday after new data highlighted a slumping retail sector and a bearish manufacturing industry. Despite the central bank trying to do everything it can to debase the franc, investors are still pouring into the safe-haven asset and boosting the francâs value. According to the Swiss Federal Statistic Office, August retail sales fell 1.6%, down from the 0.3% decline in July. Year-on-Year (YoY), […]
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October 32019
Pound Falls on Weak UK Services PMI, Rallies on Support for Brexit Plan
The Sterling pound today fell to its daily lows early in the London session following the release of weak UK services PMI data for September by IHS Markit. The GBP/USD currency pair later rallied higher as British leaders expressed their support for the new Brexit proposals submitted yesterday by Boris Johnson‘s administration. The GBP/USD currency pair fell to a low of 1.2267 in the early London session before rallying to a high of 1.2413 in the American session then […]
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October 32019
Euro Falls on Weak Eurozone PMIs, Recovers After US Services PMI Disappoints
The euro today fell to its daily lows early in the European session amid a flurry of disappointing services PMI releases from across the euro area by IHS Markit. The EUR/USD currency pair late recovered and rallied to its daily highs after the US ISM non-manufacturing PMI fell to multi-year lows. The EUR/USD currency pair today fell to a low of 1.0941 before slowly inching higher and then spiking to its daily high of 1.0999 […]
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October 32019
Australian Dollar Rises Despite Unimpressive Macroeconomic Data
The Australian dollar was trading in the green during Thursday’s trading session. The trade data released in Australia today was unimpressive but that did not prevent the currency from rebounding after Tuesday’s big slump. The Australian Bureau of Statistics reported that the seasonally adjusted trade balance surplus shrank from A$7.25 billion in July to A$5.93 billion in August. The actual value was close to the consensus forecast of $6.00 billion. The Australian […]
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October 32019
EUR/USD Rises amid Fears of Slowing US Economic Growth
EUR/USD extended its rally today as fears of potentially slowing economic growth in the United States hit the US dollar. Today’s data fueled such concerns as the report from the Institute for Supply Management showed that expansion of the services industry slowed last month more than was expected. Initial jobless claims were at a seasonally adjusted level of 219k last week, while market participants were expecting them to stay at the previous […]
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