Aussie is declining for a ninth consecutive day, against the Canadian dollar and most of the other peers. It's trading at its lowest level in a decade weighed by hawkish Fed and increased trade tensions. The announcement of additional US tariffs on Chinese imports prompted a broad sell-off of the risk-sensitive Australian Dollar. Strong retail sales report for...
Vulnerable on the trade spat headlines, Kiwi fell immediately after Trump announced an increase in tariffs on China imports. China is the largest trading partner to New Zealand. Against the yen, kiwi extended losses for the fourth streight session. The yen hit the highest level against the New Zealand dollar since June 2016. RSI also confirmed the strong downside...
Gold eased on Friday after surging on Trump's announcement they will impose new and possibly increase the already imposed tariffs on all Chinese imports. China responded they will have to take necessary countermeasures without elaborating which ones. RSI surged form the oversold to overbought bound as markets reacted on the latest fundamentals. Both sides...
Major US stocks, including the Dow, are gaining momentum to rebound from the steep fall caused by the Federal Reserve's rate cut accompanied with language that caught markets by surprise. Having come near the middle of the ascending channel as it made 0.7 percent, the DJIA is confidently marching up for 27 120. Positives US data and company earnings will help the...
The pair keeps moving downside hovering around this year's low. The pound is weighed by the political uncertainty despite BoE keeping the interest rates unchanged and its predictions of rising inflation. The Aussie was supported by faster-than-expected inflation. The reading came at 1.6% up from 1.3% potentially weakening the possibility of RBA to cut rates for...
The pound fell against the yen, breaching below the lower band of a descending channel, on Thursday meeting, the BOF left its benchmark rates unchanged but delivered some pessimistic forecasts. The Bank downgraded GDP growth forecasts for 2019 to 1.3%, down from 1.5 %. The 2020 forecast is also lowered to 1.3%. Inflation is expected to be at 1.90%, up from the...
Kiwi sharply went down as Fed cut the benchmark rate by 25 basis points. The dollar strengthened as Chair Powell dampened hopes on further rate cuts sending vague message to the markets. It also raised pressure on RBNZ to cut rates to a record low 1.25% at next week's meeting. Moreover, ANZ's business confidence index dropped to -44.3 in July, down from -38.1,...
The Dollar surged to a two-year high against the euro following the hawkish Fed. As widely expected, the Fed cut its overnight borrowing rate by a quarter percent but sent a vague message to the markets about further cuts. Euro dipped to the lowest level since mid-May 2017. RSI plunged in an oversold area. The latest data showed an improvement in Eurozone...
Euro dipped Wednesday following the worse-than-expected inflation data. A year-on-year core CPI for July slowed to 0.9% for the Eurozone, while the GDP showed better-than-expected growth for the second quarter. It came at 1.1% better than expected 1.0% but lower than the previous 1.2%. June unemployment data came in line with the expectations at 7.5%. Aussie,...
The Australian dollar rose on Wednesday after a series of falls against the yen and most of the peers. The support came after data showed consumer price inflation rose in the second quarter. CPI rose 0.6 per cent compared to the prior quarter putting in questions further interest rate cuts by the RBA in the near-term. A year-on-year second-quarter CPI rose by...
The pound dipped for a four straight session against the dollar pressured by the increased risk of a no-deal Brexit. RSI plunged in an oversold area with no indication of a soon recovery. Upcoming Fed and the rate-setting meeting could ease the dollar however analyst predicts it will stay steady. The latest data showed consumer confidence improved in the US with...
After a series of losses, Euro advanced against the haven Yen. Early Tuesday Bank of Japan held a meeting where it left asset purchase program and forward guidance unchanged keeping the interest rates at the same level. Policymakers added a note they will not hesitate to ease the policy if the economy loses the moment for recovery. Moreover, data showed industrial...
Euro and Canadian dollar both exchanged gains and losses in the past few sessions moving in a slightly descending channel. The pair is advancing to the upper band of the channel above the 50 MA. The Canadian dollar got a bit of support from rising oil prices, however, pressured by the ongoing trade spat with no expectations of a breakthrough in the ongoing two-day...
Dax plunged Tuesday amid disappointing earnings report from German companies among which giants Bayer and Lufthansa. On the data side, preliminary German CPI for July came better than expected at 0.5%. The most recent Sino-US trade headlines also weighed on the trade-sensitive index. Trump renewed attacks on China saying they are not keeping the promises made on...
The price of gold moves in a tight range ahead of the key Fed meeting. The dollar appreciated to two-month high making the bullion more expensive. A first fed fund rate cut in a decade should be supportive for the gold. Fed is about to start two-day meeting and investors are cautiously waiting to hear the tone of the policymakers. No progress expected on a resumed...
The UK pound continue to bleed against most currencies, including the NZ dollar. Monday's drop has been one of the steepest in the past several months. The fall is likely to go on until perhaps the new British PM Johnson or his cabinet ministers soften up their approach to a no-deal Brexit scenario. Under the current circumstance though, the pair price is heading...
The dollar rose against most of the currencies but fell against the Swiss Franc. The haven franc still benefits from the slowing economic outlook which is more evident outside the US and weighed by the ongoing trade spat. In the coming Fed's meeting, it is widely expected that policymakers cut interest rate to 2.25%. Meanwhile, appreciated franc induced SNB to...
The common currency surged on Monday extending gains from the previous week against the British Pound. Reports over the weekend weigh on the pound after senior ministers said they are working on the assumption the EU will refuse to renegotiate a Brexit deal. The no-deal Brexit is an option on the table on October 31. The pair is trading at 7-month high breaking...