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Day: November 15, 2019
November 152019
Pound Rallies as Farage Gives Up More Seats to Boost Tory Majority
The Sterling pound today rallied to new 8-day highs against the US dollar after Nigel Farage surrendered a further 43 seats increasing the chances of a Tory majority government. The GBP/USD currency pair had traded with a bearish bias for most of today’s session and was at breakeven before the announcement after which it spiked higher. The GBP/USD currency pair today rallied from a low of 1.2867 in the early London session to a high of 1.2918 […]
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November 152019
US Dollar Mixed on October Retail Sales, Manufacturing Index
The US dollar is struggling to find direction against multiple currency rivals at the end of the trading week. The greenback is trading sideways after new retail sales, manufacturing, and trade data showed a mixed portrait of the national economy last month. According to the US Census Bureau, retail sales rose 0.3% in October, up from the 0.3% decline in September. This brings the annual retail sales gains to 3.1%. Year-on-year, retail sales […]
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November 152019
Euro Holds Ground After Inflation Slows
The euro rose against other most-traded currencies today even after a report confirmed that eurozone inflation slowed last month. It looks like the market sentiment is recovering as riskier currencies are gaining upward momentum, while safer ones seem to be under pressure. Eurostat reported that the eurozone annual inflation rate was at 0.7% in October, down from 0.8% in September, according to the revised estimate. The reading […]
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November 152019
Japanese Yen Falls Despite Market Sentiment, Positive Data
The Japanese yen fell against other most-traded currencies today even though markets were cautious amid a lack of new details about the US-China trade talks. Japan’s industrial production expanded more than was expected but that did not help the Japanese currency either. Japan’s Ministry of Economy, Trade, and Industry reported that industrial production rose by 1.7% in September, seasonally adjusted, according to the revised estimate. Markets […]
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November 152019
Kiwi Declines Even as Manufacturing Sector Returns to Expansion
The New Zealand dollar was soft today despite positive domestic macroeconomic data. The main reason for the currency’s weakness was the risk-off market sentiment that was driving commodity currencies lower. Over the week though, the kiwi was one of the strongest currencies on the Forex market thanks to the surprise monetary decision of New Zealand’s central bank. The BusinessNZ Performance of Manufacturing Index rose from 48.8 in September to 52.6 in October. The reading above […]
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November 152019
AUD/CAD Failing to Conquer 0.9093
The Australian dollar versus the Canadian dollar currency pair might be poised for the downside after appreciation attempts failed. But will the bulls try once more? Long-term perspective After bottoming around the 0.8918 support, the price printed an upwards pointing movement, trying to acquire 0.9093. In the context of the appreciation being a piercing of the resistance of a trend at the end of which a diamond pattern crystallized, the expectations were for the bulls to be determined and overcome the bearish resistance […]
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November 152019
EUR/USD Rallies After Eurozone Data, Keeps Gains After US Releases
EUR/USD rallied during Friday’s trading session. The currency pair advanced after eurozone data suggested that the economy of the region is stabilizing. US macroeconomic releases did not stop the rally as the majority of indicators were disappointing. US retail sales rose by 0.3% in October, exceeding the median forecast of a 0.1% increase. The sales were down by 0.3% in the previous month. (Event A on the chart.) NY Empire State Index fell to 2.9 in November […]
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