Construction — News Archive

The Australian dollar was mixed today, falling against some currencies, staying flat against others, but also managing to gain on the Swiss franc. Domestic macroeconomic reports released over the trading session were detrimental to the currency.

The Australian dollar was surprisingly strong today despite adverse fundamentals, which were including poor macroeconomic data, the negative market sentiment, and the dovish monetary policy outlook.

The Australian dollar jumped today after the nation’s central bank surprised markets, keeping interest rates unchanged. The currency has trimmed its gains by now, though, losing them against the Japanese yen completely.

The euro today fell against the US dollar as market risk sentiment remained subdued due to the uncertainty associated with the Sino-US trade negotiations. The EUR/USD currency pair also fell due to weak German factory data, which painted a gloomy picture of the eurozone’s largest economy, and the euro area at large.

The British pound today fell against the US dollar after the Bank of England left its monetary policy unchanged and exhibited confidence in Britain’s economy. The GBP/USD currency pair had rallied higher earlier today amid rumors that Theresa May was willing to relax her tough stand on a customs union with the EU in order to get her Brexit deal done.

The Australian dollar traded about flat today after the release of positive macroeconomic data. Traders were reluctant to make big bets ahead of very important US nonfarm payrolls.

The Australian dollar was weak today, falling for the same reasons as its New Zealand counterpart: the negative market sentiment and poor domestic macroeconomic data.

The Sterling pound declined today as markets remained cautious amid Brexit concerns as EU leaders continue to reject the UK’s alternative Brexit Plan B. The pound was dealt a further blow after the UK construction PMI missed expectations indicating that the industry grew much slower than expected.

The euro today rallied higher against the US dollar following the release of the latest US employment change data in the early American session. The euro was also bid higher by the sell-off in global equity markets due to fears relating to the US-China trade truce and the recent arrest of the Huawei CEO in Canada.

The Australian dollar gained today despite disappointing domestic macroeconomic data. With that said, gains were relatively small, and the Aussie currently moves sideways.