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Day: November 21, 2019
November 212019
Mexican peso strengthens despite doubts over USMCA
The Mexican peso is strengthening against several currency pairs on Thursday, despite doubts over the trade agreement between the US, Mexico, and Canada. The peso is gaining on expectations of modest third-quarter growth and it is still getting a boost from the central bank recently cutting interest rates. Speaker of the House Nancy Pelosi told reporters that it is unlikely that the USMCA would be passed by the end of the year. She revealed that […]
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November 212019
Euro Soars on US-China Trade Deal Optimism, Later Crashes
The euro today rallied to its daily highs in the early American session after news emerged that China and the US were keen on signing a phase one deal. The EUR/USD currency pair today rallied higher after the release of the minutes of the ECB Governing Council‘s October meeting in which the board called for unity among member countries. The EUR/USD currency pair today rallied from a low of 1.1070 in the early European session to a high of 1.1096 […]
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November 212019
USD/IDR Flat After Bank Indonesia Keeps Interest Rates Stable
The Indonesian rupiah was little changed against the US dollar today after the nation’s central bank kept interest rates unchanged but maintained an easing bias. The Bank Indonesia decided to keep interest rates stable at today’s meeting, with the benchmark 7-Day Reverse Repo Rate remaining at 5.00%, while the Deposit Facility and Lending Facility rates staying at 4.25% and 5.75%, respectively. The decision followed the four consecutive cuts by 25 basis […]
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November 212019
Japanese Macroeconomic Data Positive, Yen Erases Rally
The Japanese yen was rising intraday on the persisting concerns about the US-China trade talks. But currently, the yen has fallen against all other most-traded rivals. Domestic macroeconomic data could not be blamed for the fall as today’s report was rather good. Japan’s Ministry of Economy, Trade, and Industry reported that the All Industry Activity Index rose by 1.5% in September after showing no change in August. The reading matched […]
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November 212019
AUD/CAD Might Have One More Chance to Rally Towards 0.9300
The Australian dollar versus the Canadian dollar currency pair bounced off after the strong depreciation from 0.9093. It’s the bears preparing a new leg to the downside or the bulls already took control? Long-term perspective After exiting from the descending channel that ended with a diamond pattern, the price appreciated until it touched the 0.9093 level, peaking at 0.9119. From the peak, the price dropped under the important local level of 0.9100, printing […]
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