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Day: October 31, 2019
October 312019
Chinese Yuan Rebounds After Disappointing PMI Data
The Chinese yuan is rebounding on Thursday after disappointing manufacturing and non-manufacturing data. Despite the jump, analysts anticipate weakness in the yuan for the rest of the year, even as the US and China are poised to reach the first phase of a comprehensive trade agreement between the worldâs two largest economies. The National Bureau of Statistics (NBS)âs manufacturing purchasing managersâ index (PMI) declined from 49.8 in September to 49.3 in October. The reading is below the market estimate of 49.8 […]
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October 312019
Japanese Yen Rallies in Risk-Off Markets as US Dollar Falls on FOMC
The Japanese yen today rallied against the US dollar in a risk-off market environment as the greenback sold off after yesterday’s FOMC rate decision. The USD/JPY currency pair today crashed to new lows after the release of upbeat housing and construction data from the Japanese docket. The USD/JPY currency pair today fell from a high of 108.86 at the start of the Tokyo session to a low of 10.8.06 and was near these lows at the time of writing. The currency pair […]
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October 312019
Euro Falls Despite Upbeat Releases From Across the Euro Area
The euro today fell against the US dollar despite the release of mostly upbeat data from across the euro area in a move that could be attributed to profit-taking following yesterday’s bullish run. The EUR/USD currency pair today rallied to its daily highs in the early European session after the release of upbeat Q3 GDP data from Spain before heading lower later. The EUR/USD currency pair today rallied to a high of 1.1175 […]
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October 312019
AUD/NZD Consolidating from 1.0689
The Australian dollar versus the New Zealand dollar currency pair is in a consolidation phase that might very well set up the path for 1.0900. Long-term perspective After the low printed at 1.0263 that rendered the piercing of the weekly 1.0361 support as a false one, the price rallied and reconfirmed important support levels, the relevant ones being the monthly 1.0530 and the local 1.0689. The rally paused after 1.0837 was confirmed as resistance. This was […]
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October 312019
EUR/USD Flat After Disappointing US Data, FOMC Rate Cut
EUR/USD was flat today after the majority of macroeconomic reports released in the United States today missed expectations. Yesterday, the Federal Open Market Committee cut interest rates. Personal income and spending rose in September. Personal income rose 0.3% after increasing by 0.5% in August (revised up from 0.4%). Personal spending rose by 0.2% after increasing at the same rate in the previous month (revised up from 0.1%). Analysts had […]
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