Macroeconomic data released in Japan today was rather disappointing. Yet that did not prevent a sharp jump of the Japanese yen on the back of the worsening market sentiment. Previously, markets felt encouragement from signs that the United States and China want to avoid trade wars. …
The Canadian dollar fell today after rallying intraday. That was surprising, considering that fundamentals looked extremely supportive for the currency. Statistics Canada reported that wholesale sales climbed 1.1% in March from February, beating the average forecast of 0.8%. Price for crude oil, …
The US dollar traded almost flat against most of its major peers amid profit-taking and in anticipation of the upcoming policy minutes from the Federal Reserve. Analysts pointed out that the greenback has rallied as much as 7% since February, prompting traders to look for more reasons …
The GBP/USD currency pair today retreated from its overnight rally after encountering resistance just before the crucial 1.3500 psychological level. The currency pair was on an uptrend from the early European session before reversing in the mid-European session following testimonies by Bank of England policymakers …
The Japanese yen fell intraday, dragged down by underwhelming domestic macroeconomic data and the positive market sentiment. Yet the currency has bounced by now as the impact of risk appetite seemed to wane. The Bank of Japan reported that the Consumer Price Index rose 0.5% in April from a year …
The Australian dollar rose earlier today, extending yesterday’s rally, on the back of the positive market sentiment. Yet the currency has retraced its gains by now. Fears of trade wars receded after the United States and China agreed to make various concessions to avoid conflict. The USA put …
The New Zealand dollar went down intraday during the current trading session due to disappointing retail sales data. But the currency managed to bounce later thanks to risk appetite on the market. Statistics New Zealand reported that retail sales rose by just meager 0.1% …
National Australia Bank pushed its forecast of an interest rate hike from 2018 to mid-2019. Yet that did not prevent a rally of the Australian dollar, caused by signs of waning trade tensions between the United States and China. Previously, NAB was saying that a rate …
The US dollar ended the week as the second strongest currency on the Forex market, losing only to the Swiss franc. Yet some market analysts said that the rally was unconvincing due to a range of political factors that were weighing on the greenback. One of the major reasons for the dollar’s rally …
The Canadian dollar today dropped significantly against the US dollar following the release of disappointing Canadian CPI data in the early American session. The loonie’s losses were further compounded by the stronger US dollar, which was boosted by rising US Treasury yields. The USD/CAD currency pair …