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Day: December 9, 2019
December 92019
Chinese Yuan Dips As Exports Fall Short of Estimates
The Chinese yuan is trading slightly lower against multiple currencies to kick off the trading week. The yuanâs performance on Monday was driven by the latest disappointing trade numbers that suggest Beijing is still reeling from the US-China trade dispute. This might explain why, according to Chinese government officials, the worldâs second-largest economy wants to settle phase one of a deal. Chinaâs trade surplus tumbled to $38.73 billion in November […]
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December 92019
Pound Hits 7-Month High as Conservatives Remain Election Favorites
The Sterling pound today rallied to a new 7-month high against the US dollar before retreating as the London session progressed and the American session began. The GBP/USD kept its bullish bias as the Conservative Party maintained a comfortable lead against the opposition Labour Party ahead of Thursday’s snap general election. The GBP/USD currency pair today rallied to a high of 1.3180 in the early London session before falling to a low of 1.3135 in the American session and was trading […]
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December 92019
Euro Slightly Higher After Positive Eurozone Reports, Loses Gains Later
The euro was trading slightly higher against most other major currencies today, though against some of them it was flat. Macroeconomic reports released in the eurozone today were good, but traders focused their attention on the events that will be happening later this week. Among them will a monetary policy meeting of the European Central Bank. Currently though, the euro trimmed its gains, losing them […]
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December 92019
Yen Gains on Commodity Currencies After Positive GDP Revision
The Japanese yen gained on commodity currencies but was trading flat against most major currencies, with the exception of the US dollar. Domestic macroeconomic data was decent, with the GDP figure getting a positive revision compared with the preliminary report. Japan’s Cabinet Office reported that gross domestic product rose by 0.4% in the third quarter of this year according to the final estimate. That is compared with the preliminary estimate […]
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December 92019
NZ Dollar Little Lower After Economic Data from China & New Zealand
The New Zealand dollar traded either flat or a little lower against its major rivals after opening sharply lower today. The unexpectedly poor report about the trade balance in China hurt the market sentiment a bit. But the negative impact on the New Zealand dollar was limited as the data was not entirely bad. On top of that, domestic macroeconomic data was supportive of the kiwi. China’s trade surplus narrowed to $38.73 billion […]
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December 92019
Bears Holding on AUD/NZD Until 1.0361 Support Area
The Australian dollar versus the New Zealand dollar currency pair, slowly but steady, depreciated despite all odds. But for how long is this going to last? Long-term perspective From the high of 1.0865, which was a false break of 1.0837, the price began a very convinced depreciation. Even if multiple levels could have served as support (noteworthy being the weekly support of 1.0689 and the monthly support of 1.0530, respectively), the bears […]
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