The Australian dollar rallied against all other most-traded currencies today after positive trade data released in China, Australia’s biggest trading partner, and Australia itself. Reports about the services sector were rather bad in both Australia and China but that did not prevent the Aussie from logging substantial gains.
The New Zealand dollar was trading either flat or slightly higher against other currencies, including its commodity-related counterparts. The kiwi got a boost from positive macroeconomic data released in both China, New Zealand’s biggest trading partner, and New Zealand itself. The optimistic market sentiment was helping the currency too.
The Australian dollar continued to rise, logging a third consecutive daily gain. This time, it is easier to explain the currency’s rally as it followed the better-than-expected GDP print released during the trading session. Economic data from China, Australia’s biggest trading partner, was atrocious, but it had a little impact on the movement of the Aussie.
The New Zealand dollar was little changed today as local markets were closed for a holiday. The currency did not show a clear trend yesterday either after the release of mixed employment data in New Zealand.
The Chinese yuan is gaining on some of its major currency rivals to finish 2019, but the currency will still end the year lower. The yuan suffered some steep losses throughout the year, though it has rebounded in recent months because the trade dispute with the US is subsiding and slightly better economic data. The yuan’s performance in 2020 will be closely watched by observers as it might impact American negotiations […]
The Australian dollar was weak today due to uncertainty surrounding the US-China trade deal as well as the slower-than-expected economic growth in Australia. Losses were limited, though, thanks to the positive report from China, Australia’s biggest trading partner.
The New Zealand dollar dropped today, touching the lowest level in four years versus its US counterpart. The currency was dragged down by poor domestic macroeconomic data and the general risk-off sentiment on the Forex market. A positive report about China’s manufacturing sector limited the downside momentum, though.
The Chinese yuan gained on the US dollar today after China’s services sector showed an accelerating rate of growth last month.
The Chinese yuan rallied against the US dollar intraday but erased its gains by now. The initial rally was a result of a surprisingly good report about China’s manufacturing from Markit Economics, though government data released over the weekend was nowhere near as good. In fact, USD/CNY rallied just recently.
The Australian dollar declined today, falling for the twelfth consecutive session against its US counterpart. There were plenty of reasons for the decline: unfavorable domestic macroeconomic data, poor economic reports in China, escalation of US-China trade tensions.
