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Day: November 29, 2019
November 292019
Mexican Peso Weakens As USMCA Remains Incomplete
The Mexican peso is weakening against its major currency rivals at the end of the trading week, driven primarily by the delay in completing the new North American Free Trade Agreement, which is also known as the USMCA. But the pesoâs declines were capped by strong retail sales data for September. On Friday, Canadian Prime Minister Justin Trudeau and Deputy Prime Minister Chrystia Freeland, who handled trade file as foreign affairs minister, […]
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November 292019
Canadian Dollar Spikes After GDP, Loses Gains Immediately Afterward
The Canadian dollar fell against almost all most-traded currencies today, even the soft yen. The Swiss franc was the only exception, falling against all other major rivals. The Canadian currency spiked after the release of a GDP report but lost gains almost immediately. Statistics Canada reported that gross domestic product rose 0.1% in September, the same as in the previous month and matching expectations. Gains were registered in 13 of 20 […]
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November 292019
Euro Falls Despite Multiple Upbeat Euro Area Inflation and Jobs Reports
The euro on Friday fell against the US dollar to continue trading within the tight range that has held for the past four days as it remained under pressure. The EUR/USD currency pair fell despite the release of the upbeat preliminary eurozone consumer price index data for November earlier today. The EUR/USD currency pair today fell from a high of 1.1013 to a low of 1.1001, ignoring the upbeat euro area inflation data and was within […]
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November 292019
KOF Economic Barometer Drops Unexpectedly, Swiss Franc Fails to Attract Demand
The Swiss franc was rather soft today, falling against some major rivals and trading flat versus others. It looked like traders felt no need to buy safer currencies despite increasing tensions between the United States and China over Hong Kong protests and their potential negative impact on chances of reaching a trade deal. Domestic macroeconomic data did not help the Swissie either as the report released today […]
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November 292019
Australian Dollar Rises Despite Lackluster Domestic Data
The Australian dollar rose against other most-traded currencies today. There was no apparent reason for the rally as domestic macroeconomic data released over Friday’s trading session was not impressive and there was no news about the US-China trade negotiations. The Reserve Bank of Australia reported that private sector credit rose 0.1% in October, demonstrating slower growth compared with September when the indicator rose by 0.2%. Furthermore, […]
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November 292019
Pound Falls As Johnson Skips Climate Debate on YouGov Poll
The Sterling pound today traded near yesterday’s lows as the media criticised Prime Minister Boris Johnson for skipping a crucial debate on the climate crisis. The GBP/USD currency pair fell as investors sold the pound following Johnson’s recent moves that could see his popularity decline ahead of the December elections. The GBP/USD currency pair today fell from a high of 1.2923 in the late Asian session to a low of 1.2901 and was headed lower at the time […]
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November 292019
Japanese Yen Flat vs. Major, Falls vs. Commodity Currencies
The Japanese yen was trading flat for the most part today, though fell versus commodity currencies. It looks like traders were not interested in safety provided by the Japanese currency despite increasing tensions between China and the United States over Hong Kong protests. There were plenty of macroeconomic reports released in Japan today but they failed to have a substantial impact on the currency during thin holiday trading. The Statistics […]
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November 292019
USD/JPY Back on Track Towards 110.29
The US dollar versus the Japanese yen currency pair appreciated after the bulls managed to pull themselves together. Long-term perspective After printing the low of 104.44, the price started a bullish trend. As of November 29, the trend has three impulsive swings, the latest being the one in which the market currently finds itself in. But this last swing is also the one that managed to put the price back into the ascending channel, […]
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