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Day: December 18, 2019
December 182019
Canadian Dollar Gets Boost from CPI & Crude Oil Prices
The Canadian dollar climbed against its most-traded peers, emerging as the strongest major currency today. The combination of robust inflation and resilient prices for crude oil was the reason for the currency’s amazing performance. Statistics Canada reported that the seasonally adjusted Consumer Price Index rose by 2.2% in November, year-on-year, accelerating from October’s 1.9% rate of growth. The reading matched expectations. Excluding gasoline, the CPI rose by 2.3%. On a seasonally adjusted monthly basis, […]
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December 182019
Japanese Yen Mixed As Exports Beat Forecasts
The Japanese yen is mixed against multiple major currency rivals midweek as economic data remained bearish. However, many of the numbers either improved from the previous month or beat market expectations. While it looked like a recession was imminent, the slight improvement may delay the recession a bit. According to the Ministry of Finance, the trade deficit narrowed sharply to $750 million in November, down from $6.75 billion in the same time a year […]
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December 182019
Great Britain Pound Falls Despite Positive Inflation Print
The Great Britain pound fell against other major currencies today despite the slightly better-than-expected inflation print. The threat of hard Brexit remains the main detrimental factor to the sterling. Producer prices were also a negative factor, falling last month unexpectedly. Britain’s Office for National Statistics reported that the annual inflation rate of the Consumer Price Index remained at 1.5% in November, unchanged from October. Ahead of the report, market participants were […]
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December 182019
Euro Falls Despite Upbeat German IFO and Eurozone CPI Data
The euro today fell against the US dollar in what could only be attributed to technical factors including major resistance levels posed by the 200-day MA. The EUR/USD currency pair kept falling despite the release of upbeat German IFO survey data and inflation data from the eurozone driven by a much stronger dollar. The EUR/USD currency pair today fell from an opening high of 1.1151 to a low of 1.1110 in the American session and was trading […]
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December 182019
Australian Dollar Logs Gains, Analysts Skeptical
The Australian dollar logged gains against the majority of other most-traded currencies today. Market analysts explained gains of riskier commodity currencies by the rise of European stocks due to the preliminary trade agreement between the United States and China. Experts were skeptical, though, about the longevity of the gains as the US-China trade conflict is not over yet, and there are other reasons to worry, like the threat of hard Brexit and impeachment of US President Donald […]
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December 182019
NZ Dollar Reverses Earlier Losses amid Risk Aversion
The New Zealand dollar gained today after falling earlier due to mild risk aversion on the Forex market. Traders were nervous due to the threat of a hard Brexit as well as the impeachment of US President Donald Trump. There is no obvious reason why the New Zealand currency reversed its losses. Macroeconomic data released over the trading week did not paint a clear picture of the New Zealand economy as there were […]
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December 182019
AUD/CAD Tests 0.9010 Yet Again
The Australian dollar versus the Canadian dollar currency pair looks as if it is delaying any appreciation attempts. Long-term perspective The low of 0.8835 marked the turning point for the evolution of the price, as it got out of the descending channel. But this step needs further work to be accomplished by the bulls, as exiting the descending channel is not enough in order for a healthy appreciation to be sustainable. The fact that the price was not able […]
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