The Canadian dollar is weakening against most major currency competitors to close out the trading week. Despite retail sales coming in stronger than expected and inflation matching market expectations, the loonie’s decline could still be driven by the central bank leaving interest rates unchanged. Is the market signaling that a rate cut is needed to resuscitate economic growth?
The US dollar versus the Japanese yen currency pair retraced quite strongly from the 110.29 resistance level. Is this a clue that the bulls are out of the game for a while?
The Australian dollar rallied against all other of its most-traded rivals, even the Japanese yen, which itself was rather strong. The main reason for the Aussie’s great performance was a surprisingly good domestic employment report, which improved the outlook for monetary policy a bit. Even risk aversion prevailing on the market was unable to stop the Australian currency from rallying.
The Australian dollar versus the New Zealand dollar currency pair gives some signs that an appreciation is not that far from the realm of possibility. Is it so, or the bears are trying to persuade the bulls?
The Australian dollar was mixed today as market participants were digesting news about the coronavirus that has started in China. The Aussie was flat against a range of major currencies, jumped versus the Canadian dollar, and dropped against the Great Britain pound. Macroeconomic reports released in Australia today were poor.
The Canadian dollar today rallied against its US counterpart in the first half of today’s session driving the USD/CAD to its daily lows boosted by in-line inflation figures. However, the currency pair quickly reversed course after the Bank of Canada announced its rate decision, which was interpreted as being very dovish.
The Great Britain pound versus the Australian dollar currency pair extended above 1.9053. Is this the new direction or it’s just the bears preparing to short?
The Great Britain pound versus the Canadian dollar currency pair had not yet started the journey towards 1.7811. Is the price just gathering more energy for a new leap or is it just that there isn’t enough bullish optimism left?
The Australian dollar versus the US dollar currency pair seems to be pursuing lower prices. The only possible barrier is 0.6850. Will this level be able to stop the depreciation?
The New Zealand dollar rallied intraday despite underwhelming domestic macroeconomic data. One of the possible reasons for the rally was macroeconomic data in China, which showed that the economic growth of the Asian nation stabilized in the last quarter of 2019. Currently, though, the New Zealand currency has lost its gains versus most rivals, except for European majors. The kiwi was trading about flat against the euro and the Great Britain pound.
