Housing Starts — News Archive

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Japanese Yen Rebounds Amid Sales Tax Hike, Renewed Safe-Haven Status

The Japanese yen is rallying against most major currency rivals midweek as the world’s third-largest economy implemented a long-awaited sales tax hike. This comes as Wall Street is forecasting the yen will enjoy a monumental rally to finish off the year amid the chaos unfolding in global markets. Are investors dismissing the weak data this week?

Yen Mixed on Macroeconomic Data, BoJ Monetary Policy Stance

The Japanese yen was mixed today despite the market sentiment that was favorable to safer currencies. Domestic macroeconomic data was mixed, but there were more negative reports than positive ones. Additionally, Japan’s central bank signaled about the possibility of additional monetary easing soon.

US Dollar Surges As Federal Reserve Cuts Interest Rates

The US dollar is surging midweek after the Federal Reserve cut interest rates at its September Federal Open Market Committee (FOMC). Additional easing is expected this year, leaving many to wonder if another round of quantitative easing (QE) is coming. Housing data further contributed to the dollar’s trading earlier in the session.

Canadian Dollar Falls Against US Peer on Mixed Inflation Data

The Canadian dollar today fell against the US dollar following the release of disappointing CPI data for August in the early American session. The USD/CAD currency pair had dropped to new intra-day lows as the loonie rallied against the US dollar before the CPI release allowed the greenback to recover.

Pound Falls on Weak UK Inflation Data Amid Brexit Impasse

The British pound today fell against the US dollar following the release of the disappointing UK inflation data for August early in the UK session. The GBP/USD currency fell from 8-week highs reached yesterday as investors sold the pound ahead of the much-anticipated FOMC announcement.

Canadian Dollar Hits Six-Week High on Crude Oil Rally, Strong Housing Data

The Canadian dollar strengthened to a six-week high on Tuesday, driven by a rally in crude oil prices and strong housing data. The Canadian economy, which has been anemic for much of 2019, has enjoyed a string of positive economic reports lately, impressing investors at a time of global volatility. This is good news for the incumbent government with an election about a month away.

US Dollar Mixed on Data, Lingering Trade Conflict

The US dollar is mixed against a myriad of currencies to finish the trading week. The greenback is contending with various economic numbers, geopolitical developments, and market events to carve out a concrete direction, which might be the case for the next several trading sessions. The next month might be pivotal for the buck’s performance for the remainder of 2019.

Canadian Dollar Falls As Economy Sheds Jobs, Raises Unemployment Rate

The Canadian dollar is sliding against several major currency rivals to finish out the trading week. The loonie’s descent was driven by a mostly disappointing labor report that saw the economy experience its weakest three-month period of job creation in more than a year. Housing numbers were also down, though many of them were better than what the market had anticipated.

Euro Struggles to Rally Despite Upbeat Eurozone Inflation Data

The euro today attempted to rally against the US dollar from the Asian session but encountered massive resistance despite the release of upbeat euro area inflation data. The EUR/USD currency pair could not muster enough momentum to mount a sustained rally as each attempt was quickly countered by a retracement as the bears stepped in.

Canadian Dollar Mixed on Housing Data, Upcoming BOC Decision

The Canadian dollar is mixed against a basket of currencies on Tuesday, driven primarily by housing data that pleased and displeased investors. The loonie is also waiting for the Bank of Canada (BOC)’s decision on interest rates this week that will either mirror its American counterpart or adopt a wait-and-see approach.

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