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Day: January 9, 2020
January 92020
Loonie Extremely Weak on Negative Housing Data & Oil Prices
The Canadian dollar was among the weakest currencies today, dragged down by negative domestic housing data. Both housing starts and building permits fell unexpectedly. The falling prices for crude oil, Canada’s biggest export, were weighing on the currency as well. According to a report from Canada Mortgage and Housing Corporation, housing starts dropped to a monthly seasonally adjusted annual rate of 197,329 units in December, down by 3% from 204,320 units in November. […]
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January 92020
Euro Range-Bound as Selling Pressure Abates Despite USD Strength
The euro today traded sideways against the US dollar as the selling pressure abated as investors reacted to the calming of tensions between the US and Iran. The EUR/USD currency pair today attempted to rally unsuccessfully and was mostly stuck in slightly negative territory for most of today’s session despite upbeat German industrial data. The EUR/USD currency pair today traded between in a tight range marked by a high of 1.1120 and a low of 1.1093 and was within this range […]
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January 92020
Great Britain Pound Soft After BoE Governor Hints at Interest Rate Cut
The Great Britain pound dropped today, though by now it has managed to trim losses against some of its rivals. The main reason for the decline were comments from Bank of England Governor Mark Carney that suggested a possible interest rate cut. Continuing Brexit uncertainty was also hurting the currency. BoE chief Mark Carney delivered a speech today. While it had optimistic remarks, traders focused on negative ones. […]
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January 92020
Japanese Yen Weakens As Household Confidence, Foreign Investment Wanes
The Japanese yen is weakening against most of its currency rivals on Thursday as consumer confidence tumbled in December and recent investment numbers turned heads in Tokyo. The yen had rallied in the wake of the escalation in the US-Iran conflict, but with Middle East tensions abating investors resuscitated their risk appetites. A new Bank of Japan (BoJ) survey discovered that householdsâ confidence in the national economy slumped to its lowest level in five years […]
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January 92020
Australian Dollar Mixed After Positive Australian Data, Disappointing Chinese Reports
The Australian dollar gained on other commodity currencies but was mixed against other most-traded peers today. The market sentiment was calm and domestic macroeconomic data was helpful to the Aussie. But economic reports in China, Australia’s biggest trading partner, were not particularly impressive, weighing on the Aussie a bit. The Australian Bureau of Statistics reported that the seasonally adjusted trade balance surplus widened to A$5.8 billion in November from A$4.08 […]
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January 92020
GBP/CAD Could Prepare for 1.7811
The Great Britain pound versus the Canadian dollar currency pair seems to have limited the bearish attempts to further induce a depreciation. Long-term perspective After confirming the support area of 1.5936, the price commenced an upwards pointing trend, one that extended until the long-time resistance area of 1.7811. From there, a strong retracement took place, so strong that it was able to cross two levels with ease: 1.7499 and 1.7160. […]
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