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Day: October 16, 2019
October 162019
Euro Hits New Monthly Highs on Positive Eurozone CPI and Weak Dollar
The euro today rallied to new monthly highs buoyed by positive CPI data from the euro area combined with a weak US dollar. The EUR/USD currency pair today rallied to new highs based on positive geopolitical events related to Brexit and the US-China trade war. The EUR/USD currency pair today rallied from a low of 1.1022 to a high of 1.1085 before retracing some of its gains by the time of writing. The currency pair opened today’s […]
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October 162019
US Dollar Weakens on Disappointing Data, Trade Uncertainty
The US dollar is trading lower against multiple currency rivals midweek, driven by disappointing economic data and continued uncertainty surrounding US-China trade relations. Still, the consensus is that the greenback will remain one of the strongest currencies over the next 25 years, competing with the Chinese yuan and the euro. According to the US Census Bureau, retail sales tumbled 0.3% in September to a 12-month rate of 4.1%, following a better-than-expected 0.6% jump […]
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October 162019
Sterling Volatile amid Brexit Uncertainty, Disappointing Data
The Great Britain pound was extremely volatile today, sinking intraday but bouncing later. Currently, the sterling is trading above the opening level. The main reason for the currency’s volatile moves was uncertainty over the Brexit, though today’s mostly underwhelming macroeconomic data also had its negative impact on the pound. Initially, markets felt optimistic about the chances for a Brexit deal as it seemed that the United Kingdom and the European Union […]
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October 162019
New Zealand Dollar Declines Even as Inflation Beats Expectations
The New Zealand dollar declined today despite inflation data that came out better than was expected. There were several possible reasons for the currency’s decline, both domestic and global. Domestically, the monetary policy outlook remained dovish despite the better-than-expected inflation report. Globally, increasing geopolitical tensions between the United States and China over Hong Kong and the global economic slowdown lessened the appeal of riskier commodity-related currencies. Currencies […]
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October 162019
NZD/CAD Breached the Weekly Level of 0.8344
The New Zealand dollar versus the Canadian dollar currency pair did not manage to sustain the gains above the 0.8344 level. Long-term perspective The market is in a descending trend that began at 0.9281. At the beginning of September, the price showed signs of trying to bottom around the 0.8300 psychological level. The first sign of a potential bottoming was given by the strong retracement on August 30. The second one is represented by the low at 0.8236, a price from where […]
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October 162019
EUR/USD Rallies After Disappointing US Retail Sales
EUR/USD rallied today after US retail sales fell unexpectedly last month, driving the US dollar down. Meanwhile, a positive inflation print boosted the euro. Retail sales fell 0.3% in September instead of rising at the same rate as analysts had predicted. The August increase got a positive revision from 0.4% to 0.6%. (Event A on the chart.) Business inventories demonstrated no change in August, whereas analysts were expecting the same 0.3% […]
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