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Day: December 3, 2019
December 32019
Chinese Yuan Weakens As Trump Remarks Offset Manufacturing PMI
The Chinese yuan is tumbling on Tuesday after President Donald Trump told reporters that a trade agreement with China can wait. The remarks offset positive manufacturing data that showed the industry expanded for the first time in seven months. The yuan remains firmly entrenched in the 7 territory against the US dollar after appreciating on hopes of a trade agreement. According to the National Bureau of Statistics (NBS), the official manufacturing purchasing managersâ index […]
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December 32019
Euro Sidelined on Trump-Macron Spat Amid US-China Trade Worries
The euro today appeared to cool off against the US dollar following yesterday’s massive rally that saw the EUR/USD currency pair breach the 1.1080 level as the greenback fell. The currency pair today traded sideways alternating between gains and losses amid a lack of significant releases from the European dockets. The EUR/USD currency pair today traded between a high of 1.1087 and a low of 1.1066 as investors took profits from yesterday’s rally and was […]
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December 32019
Pound Hits 7-Week High on Opinion Polls and UK Construction PMI
The pound today rallied to new multi-week highs against the US dollar buoyed by positive sentiment as the latest opinion polls revealed that Boris Johnson is still leading Labour’s Jeremy Corbyn. The GBP/USD’s rally was further fueled by the positive UK construction PMI released by Markit Economics showing that the country’s construction industry was improving. The GBP/USD currency pair today rallied from an opening low of 1.2930 in the Asian session […]
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December 32019
Australian Dollar Rises After RBA Holds Interest Rates
The Australian dollar climbed against all other most-traded currencies today after the nation’s central bank decided to leave interest rates unchanged. Positive macroeconomic data supported the currency as well. The Aussie was rising yesterday too even though Monday’s data was not nearly as good. The Reserve Bank of Australia decided to keep its main interest rate unchanged at 0.75% at today’s meeting. Such a decision was largely expected […]
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December 32019
AUD/NZD Might Head for 1.0361
The Australian dollar versus the New Zealand dollar currency pair is not being supported by the important levels. Long-term perspective After the high at 1.0865 that ended up to be a false piercing of the 1.0837 resistance level, the price went into a depreciation phase. The first possible support level, 1.0689, was instantly breached and thus gave way to further devaluation. This led to 1.0640 being tested as support, but after a relatively […]
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