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Day: November 8, 2019
November 82019
NZ Dollar Weakest on FX Market After Rise of Unemployment Rate
The New Zealand dollar was the weakest most-traded currency on the Forex market today following the unexpectedly big increase of the unemployment rate reported earlier this week. The positive trade data in China, New Zealand’s biggest partner, and optimism about the US-China trade negotiations did not help the currency. Statistics New Zealand reported on Tuesday that the unemployment rate was at 4.2% in the September quarter, up from 3.9% in the previous quarter. Markets […]
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November 82019
Chinese Yuan Exits 7 Territory on Trade Deal Hopes, Positive Data
The Chinese yuan has climbed above the key 7 threshold against its US peer for the first time in three months, driven by hopes that the US and China are on the cusp of agreeing to the first phase of a comprehensive trade deal. Improving trade data and a better-than-expected purchasing managersâ index (PMI) are also giving the yuan a boost. According to General Administration of Customs, Chinaâs trade surplus increased to $42.81 billion in October, up from […]
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November 82019
Australian Dollar Falls vs. Rivals After Home Loans, RBA Monetary Policy Statement
The Australian dollar fell against almost all other most-traded currencies today. Domestic macroeconomic data was unfavorable to the currency as it missed market expectations. The monetary policy statement released by Australia’s central bank today retained an optimistic outlook for the nation’s economy but kept the possibility of additional monetary easing in the cards. The Reserve Bank of Australia released its quarterly Statement on Monetary Policy today. In it, the central bank maintained its […]
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November 82019
USD/JPY Conquered 108.85. More Targets on the Way
The US dollar versus the Japanese yen currency pair made a new high at 109.48 after piercing an important level. What is of major importance is whether or not the bulls can sustain the gains. Long-term perspective After printing the low of 104.44, the price started a swing that challenged the resistance trendline of the descending trend. After gathering enough steam — around the 106.79 level — for a new upwards movement, the bulls pushed higher. As the resistance […]
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November 82019
EUR/USD Falls for Fifth Day of Week
EUR/USD extended its decline today, falling every single day of the week. The dollar continued to get support from signs that the United States and China are nearing to a trade deal, while a strong rally in Treasury yields added further support to the greenback. Michigan Sentiment Index rose slightly to 95.7 in November from 95.5 in October according to the preliminary estimate. Analysts were expecting a somewhat bigger increase to 96.0. (Event A on the chart.) […]
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