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Day: November 20, 2019
November 202019
Canadian Dollar Slumps on Weak Manufacturing Sales, BoC Caution
The Canadian dollar is weakening midweek as new manufacturing sales data and a cautious Bank of Canada (BoC) put pressure on the loonie. While the financial market is nearing all-time highs, the national economy is not experiencing the same level of success. Overall, the Canadian economy remains anemic, but the central bank did note that has the tools to accommodate and prevent further weakness. According to Statistics Canada, manufacturing sales fell 0.2% […]
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November 202019
Pound Falls as Corbyn Narrows Johnsonâs Lead Following Debate
The Sterling pound today continued to fall against the US dollar as Boris Johnson‘s ratings fell following yesterday’s public debate against Jermy Corbyn. The GBP/USD currency pair dropped as investors remained concerned about Corbyn’s rising popularity, which could lead to a hung Parliament after the elections. The GBP/USD currency pair today fell from an opening high of 1.2927 to a low of 1.2887 in the early London session, but had recovered and was […]
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November 202019
Japanese Yen Strong as Traders Skeptical About Sino-US Trade Deal
The Japanese yen rose against other major currencies today amid growing skepticism about chances for a trade deal between the United States and China. Japan’s trade balance failed to meet expectations but that had hardly any noticeable impact on the yen. Japan’s Ministry of Finance reported that the trade balance recorded a deficit of âÂ¥0.3 trillion in October. While it was a smaller deficit than âÂ¥0.6 trillion registered in September, […]
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November 202019
NZ Dollar Soft on Market Sentiment, Supported by Domestic Data
The New Zealand dollar was soft today amid the risk-negative market sentiment, which was dragging commodity-geared currencies lower. Losses were limited, though, as domestic macroeconomic data was decent and supportive to the currency of New Zealand. Released yesterday, the GlobalDairyTrade Price Index rose by 1.7% versus the 3.7% increase registered in the previous reporting period. Dairy products are an important source of export revenue for New Zealand, making dairy prices […]
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November 202019
Australian Dollar Soft amid Negative Fundamentals
The Australian dollar fell today amid the worsening market sentiment. The traders’ mood soured after tensions between the United States and China escalated over the protests in Hong Kong, while US President Trump signaled that he is going to push for higher tariffs on Chinese goods if a trade deal between the world’s two biggest economies will not be reached. The Aussie rallied yesterday despite the dovish monetary policy […]
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November 202019
Is AUD/JPY Playing the Card in Its Sleeve?
The Australian dollar versus the Japanese yen currency pair seems to have been conquered by the bears. Is it so or is it just a mirage? Long-term perspective After the false piercing of the 71.09 support, the price began an appreciation that peaked at 75.67. From there, a downwards movement began, one that breached the 73.93 support and printed the low at 73.55. The candle that came after the one that printed the low — that is […]
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