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Day: October 17, 2019
October 172019
Swiss Franc Mixed As Machine Export Orders, Producer Prices Drop
The Swiss franc is mixed against a basket of currencies on Thursday as new data show machine export orders and producer and import prices declined. The Swiss economy continues to lose momentum amid the global trade war impacting markets everywhere. Despite the downward trends, investors are still pouring into the safe-haven asset, much to the chagrin of the Swiss National Bank (SNB). According to the Swiss Federal Customs Administration, machine and electronics exports declined […]
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October 172019
USD/CAD Pair Falls to 6-Week Lows as Loonie Rallies Against Weak Dollar
The Canadian dollar today rallied against the US dollar in a move that was primarily attributed to the greenback’s overall weakness against most of its peers. The USD/CAD currency pair fell to new 6-week lows as the loonie rallied against a much weaker dollar driven by the improved investor risk appetite. The USD/CAD currency pair today hit a high of 1.3211 in the Asian session before falling to a low of 1.3138 in the American session and was near this […]
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October 172019
Aussie Bounces Sharply After Unemployment Drops Unexpectedly
The Australian dollar climbed after the release of Australia’s employment data that showed an unexpected drop of the unemployment rate. The currency erased yesterday’s losses against most-traded rivals and managed to erase losses for the whole week versus the US dollar. The Australian Bureau of Statistics reported that employers added 14,700 jobs in September on a seasonally adjusted basis. That is compared to the forecast increase of 15,300 and the previous month’s positively revised gain of 37,900. The increase […]
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October 172019
Pound Falls From 5-Month Highs After Irish DUP Rejects New Brexit Deal
The British pound today spiked to new 5-month highs after UK Prime Minister Boris Johnson confirmed that the EU and UK had agreed on a new Brexit deal. However, the rally was short-lived as the GBP/USD currency pair quickly reversed all its gains as the Northern Irish DUP opposed the agreement. The GBP/USD currency pair today spiked to a high of 1.2989 in the early London session from an initial low of 1.2751 before quickly […]
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October 172019
Bulls Preparing to Head for 0.6800 on AUD/USD
The Australian dollar versus the US dollar currency pair recovered yesterday, October 16, after it almost touched the 0.6700 level, thus signaling that the sellers may dissipate. Long-term perspective Beginning with August, after printing a few lows under the psychological level of 0.6700, the price revisited 0.6800 on October 10, but retraced and, on October 16, printed a low at 0.6720 (not highlighted on the chart). The fact the price retraced […]
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October 172019
EUR/USD Extends Gains on Disappointing US Data
EUR/USD continued to rise today as the majority of macroeconomic reports released in the United States over the trading session were disappointing, missing expectations. Philadelphia Fed manufacturing index dropped from 12.0 to 5.6 in October, below the forecast level of 7.3. (Event A on the chart.) Housing starts and building permits decreased in September. Housing starts were at a seasonally adjusted annual rate of 1.26 million in September, down from 1.39 million in August. Building permits […]
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