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Day: October 24, 2019
October 242019
Mexican Peso Mixed on Economy, Trade Uncertainty
The Mexican peso is mixed against several major currency pairs on Thursday as investors remain uncertain as to how to trade the country and the currency. There are signs that the economy is still slumping, despite cuts to interest rates and a populist left-leaning government willing to spend money. With trade uncertainty lingering in the background, the peso might be in store for some choppy waters. In August, Mexicoâs economy tumbled 0.9% from the same time […]
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October 242019
Euro Drops as Draghi Defends His Legacy After ECB Rate Decision
The euro fell against the US dollar in the American session following a spike higher shortly after the announcement of the European Central Bank‘s rate decision. The EUR/USD currency pair rallied to its daily highs in the early European session on mixed IHS Markit flash PMI releases from the euro area but later fell. The EUR/USD currency pair today rallied to a high of 1.1162 in the early European session, but had fallen to a low of 1.1108 […]
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October 242019
EUR/USD Retreats After Rallying Intraday
EUR/USD attempted to rally intraday after the release of a worse-than-expected report on US durable goods orders but retreated very quickly afterwards. The currency pair did not respond to the better-than-expected manufacturing print. Durable goods orders dropped by 1.1% in September, more than analysts had predicted — 0.5%. The indicator rose 0.3% the month before. (Event A on the chart.) Initial jobless claims were at a seasonally adjusted level of 212k last week, down […]
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October 242019
Japanese Yen Flat After Unfavorable Markit PMIs
The Japanese yen was little changed following a report that showed that economic activity in Japan slowed this month. The services sector barely expanded as its rate of growth slowed sharply compared with September, while the manufacturing sector accelerated the rate of its decline unexpectedly. The Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index fell to 48.5 in October from 48.9 in September. That is instead of an increase to 49.2 […]
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October 242019
GBP/CAD Correcting from 1.6986
The Great Britain pound versus the Canadian dollar currency pair reached the important level of 1.6986, an area from where two outcomes are possible. Long-term perspective The price, after confirming the weakened support area of 1.5936 as support via the bottoming structure that began in August, started an appreciation that succeeded in overcoming important areas, like 1.6413 and 1.6620, respectively, a behavior that displays bullish commitment. After peaking at 1.7093 while […]
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October 242019
Australian Dollar Falls as Economic Activity Slows
The Australian dollar declined against its most-traded rivals today after flash data showed that economic activity slowed significantly last month. While both the manufacturing and the services sectors continued to expand, the pace of expansion was slower than in the preceding month. The Commonwealth Bank Flash Manufacturing Purchasing Manager’s Index fell to 50.1 in October from 50.3 in September. The Commonwealth Bank Flash Services Business Activity Index demonstrated a much […]
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