The Swiss franc dropped today as Switzerland’s economic growth halted unexpectedly. The currency did not react to the report immediately, moving largely sideways for some time, but declined sharply later. Swiss gross domestic product fell 0.2% in the third quarter of 2018. That is …
The New Zealand dollar fell today as the business confidence remained negative. Yet by now, the currency has trimmed losses, erasing them outright against some of its rivals. The ANZ Business Confidence remained at -37.1 in November, the same as in October. Not everything in the report was bad, …
The British pound today dropped to new daily lows following warning comments made by the European Union’s chief Brexit negotiator, Michel Barnier regarding the latest Brexit deal. The pound’s decline was further weighed down by a warning from the BoE Governor Mark Carney that …
The US dollar was trading mostly sideways during the Wednesday’s trading session despite disappointing macroeconomic data. But that changed after Federal Reserve Chairman Jerome Powell delivered a surprisingly dovish speech, after which the greenback plunged. Powell delivered a speech titled …
The Japanese yen is falling against the greenback midweek as preliminary data found manufacturing activity expanded at the slowest pace since 2016 in November, leaving investors doubtful of strong growth in the fourth quarter. The yen took another hit on forecasts that the Japanese stock market will …
The New Zealand dollar gained today after the Reserve Bank of New Zealand released the Financial Stability report. Gains were limited, though, as market participants were waiting for new developments in the trade war between the United States and China. The RBNZ stated in its semiannual Financial …
The Australian dollar gained today despite disappointing domestic macroeconomic data. With that said, gains were relatively small, and the Aussie currently moves sideways. The Australian Bureau of Statistics reported that construction work done fell 2.8% in the September quarter from the previous three …
The Chinese yuan is weakening on Tuesday as new reports of African swine fever are sending economic ripples across the nationâs agricultural sector. The bearish news did not end there as industrial profits slowed in October and forecasts show growth will cool down next …
The euro today was buffeted by a deluge of negative news headlines that soured investor sentiment towards the single currency and other riskier currencies. The news headlines included China’s denial of any progress in the trade war talks as well as the Italian budget standoff, which contributed to the EUR/USD …
The New Zealand dollar rose today despite New Zealand’s trade balance, which was released overnight, missed expectations. Statistics New Zealand reported that the trade balance deficit was at NZ$1.3 billion in October. It was a decrease from September’s deficit of NZ$1.6 …