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Day: October 15, 2019
October 152019
Japanese Yen Attempts to Rally, Fails
The Japanese yen attempted to rally intraday but has lost is gains completely against all other major currencies by now. One of the possible reasons for the initial rally of the yen was the worsening market sentiment as traders were becoming less and less optimistic about the trade negotiations between the United States and China. But poor domestic macroeconomic data and the dovish outlook for monetary policy of the Japanese central bank did not allow […]
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October 152019
Australian Dollar Extends Losses After RBA Minutes, China’s Data
The Australian dollar did not change Monday’s direction on Tuesday, continuing to fall against other major currencies. The most important factors driving the currency were the dovish monetary policy outlook and mixed macroeconomic data in Australia’s biggest trading partner, China. The Reserve Bank of Australia released today minutes of its monetary policy meeting on October 1. At the meeting, the RBA cut its main interest rate by 25 basis points to the new […]
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October 152019
Chinese Yuan Struggles as US-China Trade Optimism Fades
The Chinese yuan is struggling against its major currency competitors on Tuesday as optimism over the first phase in the US-China trade deal diminishes. After initial celebration in financial markets, investors now have some consternation until a formal and written agreement is signed. The yuan was greater impacted by disappointing economic data. According to the General Administration of Customs, imports tumbled 8.5% in September from the same time a year ago to $178.47 […]
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October 152019
GBP/CAD on Its Course to Confirm 1.6620 as Support
The Great Britain pound versus the Canadian Dollar currency pair appreciated beyond 1.6620, which is an important support that recently turned into resistance. Will it be able to turn back into support? Long-term perspective After confirming the weakened support area of 1.5936, the price appreciated, pierced the strict resistance area of 1.6413, and stopped at the old support of 1.6620 (printing the high of 0.6691), from where it retraced thus […]
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