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Day: November 13, 2019
November 132019
Euro Range-Bound On In-Line German CPI, Falls on Powell Testimony
The euro today traded sideways against the US dollar in a low-volatility market environment as traders waited for Jerome Powell‘s statement and testimony later in the day. The EUR/USD currency pair had a muted reaction to the release of inflation data from both Germany and the USA as the technical conditions surrounding the pair remained neutral. The EUR/USD currency pair today traded in a range marked by a high of 1.1020 and a low of 1.0999 but broke lower during Powell’s live testimony […]
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November 132019
Japanese Yen Strengthens Amid Higher PPI, Bank Lending
The Japanese yen is strengthening against multiple currency pairs midweek, driven by better-than-expected banking lending and manufacturing prices. Will this be enough to quash concerns about a possible recession? After last weekâs surprise decline in machinery orders, it is unclear where the Japanese economy is heading. The producer price index (PPI), a measurement of the average movement in selling prices from domestic production, climbed 1.1% in October, up […]
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November 132019
NZ Dollar Skyrockets After RBNZ Keeps Rates on Hold
The New Zealand dollar climbed sharply against all other most-traded currencies today after the Reserve Bank of New Zealand surprised markets by leaving interest rates unchanged. While the kiwi has retreated from day’s highs by now, it is still trading far above the opening level, retaining most of its gains. The RBNZ decided to keep its main interest rate stable at 1% at today’s monetary policy meeting. […]
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November 132019
Australian Dollar Weak Despite Decent Data
The Australian dollar declined against other most-traded currencies today even though domestic macroeconomic data was decent and should have supported the Aussie. The probable reason for the currency’s decline was a disappointment in the speech of US President Donald Trump, who did not reveal any news about progress in the US-China trade negotiations. The Australian Bureau of Statistics reported that the seasonally adjusted Wage Price Index rose 0.5% in the September quarter […]
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November 132019
GBP/AUD Consolidating for the Next Target: 1.0950
The Great Britain pound versus the Australian dollar currency pair consolidates after exiting a pattern that points to the continuation of the upward movement. Long-term perspective After confirming the 1.7634 support, the price entered in an ascending movement that conquered along the way important levels and then peaked at 1.9094. After peaking, a correction began, one that ended by printing the low of 1.8546. From that low, the bulls began a rally that reconquered 1.8742. […]
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November 132019
EUR/USD Falls, But Losses Small
EUR/USD fell today, but the decline was small. The market sentiment was risk-negative after US President Donald Trump signaled at yesterday’s speech that he may increase tariffs on Chinese imports even further. Today’s testimony of Federal Reserve Chairman Jerome Powell was considered hawkish as he made positive remarks about the state of the US economy, though he also mentioned that downside risks persist. US […]
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