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Day: November 12, 2019
November 122019
NZD Declines on Falling Inflation Expectations, Interest Rate Outlook
The New Zealand dollar fell against all other most-traded currencies today, even its Australian counterpart, which was rather weak itself. While deteriorating inflation expectations were one of the possible reasons for the decline, the major driver for the currency was the negative monetary policy outlook. The Reserve Bank of New Zealand reported that inflation expectations for one year ahead declined from 1.71% in the September quarter to 1.66% in the December quarter. […]
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November 122019
Aussie Drops Despite Improving Business Confidence, Conditions
The Australian dollar fell against the vast majority of its most-traded rivals despite the fact that the business conditions and the business confidence improved last month. Now, traders wait for the consumer confidence index that will be released tomorrow and employment data due for release on Thursday. National Australia Bank reported that both the business confidence and the business conditions improved in October, though both remained below average. The business confidence rose […]
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November 122019
Euro Falls Against US Dollar Despite Positive German ZEW Survey Data
The euro today fell against a much stronger US dollar amid a lack of any potent fundamental triggers to extend the single currency’s gains from yesterday. The EUR/USD currency pair fell despite the release of mixed German ZEW survey data in the early European session and kept dropping for the rest of the day. The EUR/USD currency pair today fell from a high of 1.1038 in the Asian session to a low of 1.1.003 in the early American session and was near […]
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November 122019
Chinese Yuan Rebounds After Disappointing Data, Positive 2020 Outlook
The Chinese yuan is rebounding against multiple currency pairs on Tuesday, following an onslaught of disappointing economic data. The biggest driver of the yuanâs gains is President Donald Trumpâs upcoming speech at the Economic Club of New York that is expected to announce delays to tariffs on automobiles, as well as hints on the current state of US-China trade negotiations. Global financial markets were disappointed by Chinaâs producer price index (PPI) as it tumbled 1.6% […]
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November 122019
Bulls to Be Tested on AUD/NZD at 1.0837
The Australian dollar versus the New Zealand dollar is set for appreciation, but is it a sustainable one? Long-term perspective After the false break of the 1.0361 weekly support that printed the low of 1.0263, the price entered into an appreciation that managed to conquer important areas, such as the monthly support of 1.0530 and weekly support of 1.0689, respectively. It then entered a consolidation phase lined by the 1.0837 resistance and the 1.0689 support, respectively, in which […]
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