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Day: November 22, 2019
November 222019
Great Britain Pound Sinks on Extremely Poor PMIs
The Great Britain pound was the worst-performing major currency today, falling against all other most-traded rivals. The currency was heading to the biggest weekly loss in almost three weeks. The reason for the poor performance were extremely poor PMI figures, which made economists speculate that Britain’s economy will face a contraction in the fourth quarter of this year. The IHS Markit/CIPS Flash UK Composite PMI dropped to 48.5 in November from […]
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November 222019
US Dollar Strengthens on Positive Manufacturing, Consumer Sentiment
The US dollar is strengthening against several major several currency rivals at the end of the trading week, buoyed by upbeat economic data. Investors took a day off from the never-ending seesaw of US-China trade relations that markets had to endure for the last several sessions. On Friday, the IHS Markit manufacturing purchasing managersâ index (PMI) for November clocked in at 52.25. This is up from 51.3 in the previous month and beats market expectations […]
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November 222019
Euro Falls on Mixed PMI Reports From Across the Euro Area
The euro today fell against the much stronger US dollar as investors reacted to mostly negative IHS Markit preliminary services PMI reports from across the eurozone. The EUR/USD currency pair today attempted to rally higher on positive French and German manufacturing PMIs, but the rally was short-lived due to the weak services PMIs. The EUR/USD currency pair today rallied to a daily high of 1.1087 before falling to a low of 1.1027 and was headed […]
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November 222019
Japanese Yen Strong After Economic Data Meets Expectations
The Japanese yen was generally strong today amid persisting concerns about the US-China trade negotiations. Macroeconomic data released in Japan over Friday’s session was in line with expectations. The Statistics Bureau of Japan reported that Japan’s core Consumer Price Index rose by 0.4% in October from a year ago, matching analysts’ forecasts. Inflation accelerated slightly from September’s annual rate of 0.3%. Month-on-month, the CPI rose by 0.2%. […]
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November 222019
Aussie Rallies, Ignoring Negative PMIs, But Unable to Keep Gains
The Australian dollar attempted to rally today, ignoring negative domestic macroeconomic data. But the currency was unable to keep gains, falling against the majority of its most-traded rivals by now. Markit released flash PMIs, both manufacturing and services, for November. The manufacturing Purchasing Managers’ Index slipped a bit to 49.9 from 50.0 in October. The figure was slightly above the median forecast of 49.8. The services PMI dropped to 49.5 from 50.1. That […]
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November 222019
USD/JPY Making Its Best to Withstand the Bearish Pressure Under 108.85
The US dollar versus the Japanese yen currency pair is in an appreciation phase, but the bears are doing everything in their power to stall further bullish advancement. From this battle, who will come out as victorious? Long-term perspective The price oscillated in an ascending channel, starting from the 104.44 low and peaking at 109.48. But it seems that the channel’s support trendline has been discounted by the November 21 candle, which […]
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