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Day: November 30, 2020
November 302020
Great Britain Pound Strong on Hopes for Brexit Deal
The Great Britain pound rose today, emerging as the strongest currency on the Forex market on Monday. The most likely reason for the sterling’s amazing performance was hopes for a trade deal between the United Kingdom and the European Union. The deadline of December 31 nears but there is no deal in sight. Just a few sticking points remained but the EU and the UK seem to have a hard time finding a compromise on them. Markets were hopeful, though, […]
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November 302020
Swiss Franc Soft Despite Better-than-Expected Data
The Swiss franc was soft for the most part today, though it managed to log small gains versus the Australian dollar and the Japanese yen. Better-than-expected domestic macroeconomic data was unable to bolster the Swissie. Switzerland’s Federal Statistical Office reported that retail sales adjusted for sales days and holidays rose by 3.1% in October from the same month of the previous year. That was a massive surprise to analysts, who were expecting just […]
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November 302020
USD/CNY Pauses Despite Another Surge in November Manufacturing
The Chinese yuan is trading flat against its US peer to kick off the trading week, despite the central government reporting renewed activity in the manufacturing sector this month. The yuan has been one of the top-performing currencies in the fallout of the coronavirus, surging to its best level against the greenback in more than two years. According to the National Bureau of Statistics (NBS), the manufacturing purchasing managers’ index (PMI) came in at 52.1 in November â […]
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November 302020
Australian Dollar Soft on Mixed Domestic Data, China’s Trade Conflicts
The Australian dollar was soft today, trading either flat or lower versus other most-traded currencies. Domestic macroeconomic data was mixed, giving no help to the currency. Better-than-expected economic releases in China were unable to provide a boost either. The Melbourne Institute Inflation Gauge showed an increase of 0.3% in November after falling by 0.1% in October. The Australian Bureau of Statistics reported that company gross operating profits rose by 3.2% in the September […]
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November 302020
NZ Dollar Flat-to-Higher After Domestic & Chinese Economic Reports
The New Zealand dollar traded largely flat today, though it managed to gain on some of the majors, including the US dollar. The kiwi got a boost from positive domestic macroeconomic data as well as better-than-expected reports in China. The ANZ business confidence improved from -15.7 in October to -6.9 in November according to the final estimate. The preliminary reading had promised the index to stay about unchanged. The report commented on the result: The New Zealand business sector […]
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November 302020
Japanese Yen Weak Despite Positive Domestic Reports
The Japanese yen was weak today even though domestic macroeconomic data released on Monday was good. There was no clear theme to drive markets at the start of the week. The week should be eventful, though, with plenty of economic releases basically every single day. Japan’s Ministry of Economy, Trade, and Industry reported that industrial production rose by 3.8% in October on a seasonally adjusted basis. While it was a small […]
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November 302020
Bulls Still on Course to 0.7587 on AUD/USD?
The Australian versus the US dollar currency pair seems to be escaping the bearish force that rests between the 0.7300 and 0.7400 areas. Did the bears really give up? Long-term perspective After the 0.6386 level was validated as support, the price continued the movement toward the north. After two consolidation phases, the quotation achieved etching the 0.7413 high. However, after reaching it, the bears started pressuring the bulls with enough determination […]
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