Service Industries — News Archive

The Japanese yen was firm today as the market sentiment turned cautious. Some of domestic macroeconomic releases were also helpful to the currency.

The Australian dollar fell today amid the cautious market sentiment and domestic macroeconomic data that was not particularly good. Yet the losses were limited and currency managed to trim them against some rivals.

The euro today rallied higher against the US dollar as investors fled the greenback and US equity markets in favour of riskier assets such as the single currency. The EUR/USD currency pair today rallied above the crucial 1.1200 level as investors piled into the currency given the US dollar’s crash in the face of rising trade tensions.

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.

The euro today traded sideways against the US dollar with a slight bearish bias following the release of disappointing German and eurozone PMI data by Markit Economics. The EUR/USD currency pair today remained under pressure as investors wait for tomorrow’s European Central Bank monetary policy decision, which many expect to be dovish.

The Australian dollar fell against other most-traded counterparts today after the Purchasing Managers’ Indices showed that both manufacturing and service sectors continued to expand but with a slower pace.

The Great Britain pound was mixed today, falling against some rivals while rising versus others. Such behavior is not surprising, considering that Britain’s macroeconomic data released over the trading session was mixed as well. The sterling was trying to erase losses but currently is not successful.

The Great Britain pound was the weakest major currency on the Forex market today. The main reason for that was the string of bad PMI reports, which led to concerns that Britain’s economic growth slowed in the second quarter of 2019.

The euro today rallied higher following the release of mostly upbeat PMI reports from across the eurozone by Markit Economics in the early European session. The EUR/USD currency pair later fell in the early American session despite the disappointing US releases driven by subdued investor risk sentiment ahead of tomorrow’s US holiday.

The New Zealand dollar was strong today even as, unlike its Australian peer, it had no support from macroeconomic data. Reports released over the trading session both in New Zealand and its biggest trading partner, China, were rather poor.