Day: December 9, 2019

December 9
2019

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 yuan’s 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 world’s second-largest economy wants to settle phase one of a deal. China’s trade surplus tumbled to $38.73 billion in November […]

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December 9
2019

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 9
2019

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 9
2019

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 9
2019

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 9
2019

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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