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Day: October 10, 2019
October 102019
Swedish Krona Rallies After Inflation Beats Expectations
The Swedish krona rallied against its major rivals today. That included the Great Britain pound, but the sterling has managed to rebound by now thanks to the positive Brexit headlines. The main reason for the krona’s rally was better-than-expected inflation data. Ahead of today’s report, ING predicted that annual inflation would slow to 1.1%-1.2%. Yet the actual data from Statistics Sweden revealed that the Consumer Price Index rose by 1.3% […]
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October 102019
Swiss Franc Dips As Markets Confident on US-China Trade Progress
The Swiss franc is trading slightly lower on Thursday as investors are confident that the US-China trade negotiations are progressing, a development that would diminish the francâs safe-haven appeal. The near-term trend might please the central bank amid efforts to fight the currencyâs overvaluation. But is it enough to prevent further monetary easing? Analysts suggest that it is not. Markets cheered after President Donald Trump said […]
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October 102019
Japanese Yen Falls on Optimism for US-China Negotiations
The Japanese yen fell against other major currencies today as the mood on markets was generally optimistic, giving little incentive for traders to buy safer currencies. Domestic macroeconomic data was not helping the yen either, being disappointing for the most part. The Bank of Japan reported that total lending by banks increased 2.0% in September from the previous year. That was a bit smaller increase compared with the previous month’s 2.1% […]
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October 102019
Pound Rallies on Positive Brexit Meeting Between Johnson and Varadkar
The British pound today rallied to new 5-day highs against the US dollar after a positive meeting between Boris Johnson and the Irish Prime Minister Leo Varadkar. The GBP/USD currency pair had attempted to rally early in the London session, but was derailed by mostly negative UK macro releases and fell back to its opening lows. The GBP/USD currency pair today rallied from an opening low of 1.2208 to a new 10-day high […]
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October 102019
Euro Rallies on Mixed Trade Headlines Despite Weak German Data
The euro today rallied higher against the US dollar, which was under intense selling pressure as investors cautiously waited for US-China trade talks to resume. The EUR/USD currency pair rallied higher despite weak macro releases from Germany in the early European session mainly driven by positive investor risk sentiment. The EUR/USD currency pair today rallied from an opening low of 1.0980 to a high of 1.1033 in the mid-European session but had […]
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October 102019
EUR/USD Surges Intraday, Trims Gains Despite US CPI Miss
EUR/USD surged as of 6:45 GMT today, though it is hard to pinpoint the exact reason for the rally. One of the prevailing theories is that uncertainty surrounding the upcoming US-China trade talks was weighing on the dollar. The unexpected stagnation of US inflation should have hurt the greenback too, but the EUR/USD failed to profit from the disappointing data. While the pair attempted to rise after the release, it has given up its gains […]
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October 102019
Australian Dollar Gains on Hopes for US-China Trade Deal
The Australian dollar rose against other most-traded currencies today. With domestic macroeconomic data being a mixed bag, it is likely that the currency found outside support for its rally. Market analysts speculated that the Aussie gained on optimism about the US-China trade talks, though it is important to note that today’s headlines provided conflicting reports about the progress in the negotiations. The Australian Bureau of Statistics reported that […]
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October 102019
AUD/USD Might Prepare to Rotate from 0.6700
The Australian dollar versus the US dollar currency pair seems to be trying to depart from the important 0.6700 support level. Long-term perspective After the confirmation of the strong resistance barrier represented by the upper line of the descending channel and the 0.7055 and 0.7013 levels, respectively, the price descended in a very convincing manner reaching the 0.6700 support, where it printed the first low, at 0.6676. After printing other two lows, the price rallied to the major support […]
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