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Day: May 15, 2020
May 152020
Euro Spikes Then Falls Against Dollar on Day Full of Macro Releases
The euro today rallied to new daily highs against the US dollar after the release of weak US data, but the single currency later gave up its gains. The EUR/USD currency pair fell after the release of upbeat US consumer sentiment data, which surprised investors causing the pair to sell-off. The EUR/USD currency pair today rallied from a low of 1.0788 to a high of 1.0850 in the early American session but had given […]
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May 152020
NZ Dollar Weakest Among Brewing US-China Trade War
The New Zealand dollar was the weakest among the most-traded currencies on the Forex market today. While domestic macroeconomic data could have played a part in the decline, market analysts speculated that the major reason for the drop was the brewing trade war between the United States and China. The Trump administration made a move to block shipments of semiconductors to China’s tech giant and the world’s second biggest smartphone maker Huawei Technologies. It will likely […]
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May 152020
US Dollar Holds Steady As Retail Sales Crash Worse Than Expected in April
The US dollar is holding steady to finish the trading week as investors comb through the worse-than-expected retail sales report for April. The greenbackâs endurance was further tested on bleak industrial and manufacturing numbers, lending credence to the Federal Reserveâs gloomy assessment that the US economyâs road to recovery will be a long and slow one. So, why is the buck not plummeting on Friday? According to the US Census Bureau, April retail sales […]
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May 152020
Aussie Soft Despite Rebound in Chinese Industrial Production
The Australian dollar was soft today despite a rebound of industrial production in China — Australia’s biggest trading partner. Other indicators released in China today were not good, though. There were no economic releases in Australia today, and yesterday’s employment data was mixed. The National Bureau of Statistics of China released a report containing a bunch of important macroeconomic indicators for April. The report started with a very optimistic preamble: In April, under […]
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May 152020
Bulls on USD/JPY Regrouping from the 107.00 Handle?
The US dollar versus the Japanese yen currency pair oscillates around the 107.09 level. Is there a lack of direction? Long-term perspective The depreciation that started from 111.07, and which came after the strong rally that begun after the price touched the monthly support of 101.18, seemed to have found support at the 107.09 level. But the 107.09 support was breached on April 28, allowing the price to fall until the low of 106.35. From […]
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