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Day: December 11, 2019
December 112019
US Dollar Strengthens As Federal Reserve Leaves Interest Rates Unchanged
The US dollar is strengthening against most major currency rivals midweek as the Federal Reserve left interest rates unchanged amid a strong national economy. The greenback is also reacting to higher price inflation and a robust housing market. On Wednesday, the Federal Reserve announced that it is leaving interest rates unchanged at a target range of 1.50% and 1.75%. The market widely anticipated that the Fed would not cut rates, especially […]
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December 112019
Euro Drops on Trade War Fears, Rallies on Mixed US Inflation
The euro today fell against the US dollar in a risk-off market environment as investor fears about an escalation in the US-China trade war dominated the markets. The EUR/USD currency pair recovered in the American session due to the greenback’s weakness despite the release of in-line US inflation data. The EUR/USD currency pair today fell to a session low of 1.1070 before recovering and rallying to a high of 1.1097 in the American session to trade flat at the time of writing. The currency pair fell […]
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December 112019
Yen Mixed After Domestic Data, Comments of Haruhiko Kuroda
Japanese yen was mixed today, staying flat against most major currencies but falling versus commodity currencies. The yen managed to gain on the Swiss franc. Domestic macroeconomic data was mixed, giving the Japanese currency no help in finding direction. The manufacturing index reported in the Business Outlook Survey by the Bank of Japan showed a drop of 7.8% in the fourth quarter of this year after declining 0.2% in the previous three months. That […]
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December 112019
Australian Dollar Surges Despite Wednesday’s Underwhelming Data
The Australian dollar surged against other most-traded currencies today. With Wednesday’s domestic macroeconomic data being negative, it is hard to tell what the reason for the sharp rally was. One of the possible factors boosting the Aussie were hopes for a delay of US tariffs on Chinese goods that should kick in on December 15. The Westpac-Melbourne Institute Index of Consumer Sentiment dropped by 1.9% in December after jumping by 4.5% in November. The report commented […]
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December 112019
AUD/JPY at 73.93 Preparing for Another Rally
The Australian dollar versus the Japanese yen currency pair is building ground for further appreciation. But can the bears consider this delay as their opportunity? Long-term perspective The false piercing of 71.09 was followed by the confirmation of the level as support and the appreciation that started the current ascending movement, respectively. The last impulsive swing peaked at 75.67. The retracement that started after it printed the low of 73.35, from where another upwards pointing […]
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