Day: December 4, 2019

December 4
2019

US Dollar Slides on Weak US Jobs Report, Services PMI

The US dollar is falling against multiple currencies midweek amid disappointing private payroll numbers and a weak services sector. The bullish US-China developments appeared to have stopped the bleeding as investors have renewed their optimism (again) over an upcoming deal. But the buck may need to limit its losses if it wishes to keep its year-to-date gain. According to payroll processor ADP, private sector employment growth slowed […]

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December 4
2019

Euro Falls on Mixed Trade Headlines, Rallies on Weak US Jobs Data

The euro today fell amid conflicting trade headlines as investors continued to wonder whether the US and China would seal a phase one deal any time soon. However, the EUR/USD currency pair rallied higher in the early American session after the latest US jobs data released by the ADP missed expectations by a wide margin. The EUR/USD currency pair today fell to a low of 1.1066 in the mid-European session before rallying to a high of 1.1109 after […]

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December 4
2019

Japanese Yen Flat amid Confusing News Headlines About US-China Trade Deal

The Japanese yen was flat against most of its major rivals amid conflicting reports about the probability of reaching a phase-one trade deal between the United States and China before the new US tariffs, scheduled to take effect on December 15, will kick in. Domestic macroeconomic data was relatively good but slightly worse than expected. Markets started Wednesday’s trading session in a risk-off mode due to comments made […]

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December 4
2019

Australian Dollar Weak After GDP Miss

The Australian dollar was weak today due to uncertainty surrounding the US-China trade deal as well as the slower-than-expected economic growth in Australia. Losses were limited, though, thanks to the positive report from China, Australia’s biggest trading partner. The Australian Bureau of Statistics reported that gross domestic product rose by 0.4% in the September quarter from the previous three months. It was a slightly worse reading than an increase of 0.5% predicted by analysts. […]

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December 4
2019

NZ Dollar Soft After Economic Reports, News Headlines

The New Zealand dollar was trading lower for the most part today, though it was attempting to rise against few rivals. The market sentiment was torn between risk aversion and risk appetite due to conflicting reports about chances for a trade deal between the United States and China. New Zealand’s macroeconomic reports were neither bad nor good enough to drive the kiwi in any particular direction. The ANZ World Commodity […]

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December 4
2019

NZD/CAD Appreciated. Is 0.8915 the Next Target?

The New Zealand dollar versus the Canadian dollar currency pair, as expected, appreciated and reached the 0.8692 old support. Long-term perspective After printing the low of 0.8236, the price bottomed around the weekly support of 0.8344. It then confirmed the support and appreciated, piercing 0.8514 and 0.8577, respectively. This facilitated the extension until the old weekly support of 0.8692. From here, if the bulls maintain their dominance, the price has two possibilities. The first […]

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