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Day: November 14, 2019
November 142019
Pound Rallies Against Weak Dollar Despite Poor UK Retail Sales
The Sterling pound today rallied against the US dollar during the American session as the Fed Chair Jerome Powell testified before the House budget committee. The GBP/USD currency pair spiked higher from a consolidative phase during this period despite the weak UK retail sales data released earlier today. The GBP/USD currency pair today rallied from a low of 1.2825 during the late Asian session to a high of 1.2888 in the American session […]
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November 142019
Australian Dollar Sinks After Extremely Poor Employment Data
The Australian dollar fell sharply against all of its most-traded rivals today after employment data came out much worse than was expected. Analysts argued that the negative data bolstered the case for the Reserve Bank of Australia to lower interest rates to new record lows. Disappointing macroeconomic indicators in China, Australia’s biggest trading partner, weakened the currency further. The Australian Bureau of Statistics reported that the number of employed Australians […]
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November 142019
Swiss Franc Strengthens Amid Fall in Import, Producer Prices
The Swiss franc is strengthening against a myriad of currencies on Thursday, buoyed by a decline in import and producer prices. Low unemployment and larger foreign exchange reserves have contributed to the francâs gains as of late. But there is more than just data that is spurring global interest in the country right now: coffee. According to the Swiss Federal Statistic Office, producer prices dipped 0.2% in October, up from the 0.3% decline in September. […]
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November 142019
AUD/JPY Just Might Have Been Taken by Bears
The Australian dollar versus the Japanese yen currency pair is depreciating, thus attracting more buyers. However, they could be at a disadvantage. Long-term perspective After printing the low at 69.95 and confirming 71.09 as support, the price entered an appreciation that almost reached the 76.02 resistance, peaking at 75.67. From 75.67 a depreciation began, bringing the price — as of 09:00 GMT — at the 73.93 level. This level is a well respected one, serving as both […]
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November 142019
EUR/USD Flat on Risk Aversion, US Data
EUR/USD fell initially today but has recovered by now. The market sentiment was beneficial to safe currencies, but the lack of progress in US-China trade talks hurt the dollar a bit. US macroeconomic data was mixed, with PPI and jobless claims rising more than was expected. PPI rose by 0.4% in October, slightly exceeding the median forecast of a 0.3% increase. The index fell by 0.3% in September. (Event A on the chart.) Initial jobless […]
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