The Chinese yuan recorded its lowest drop for more than a decade yesterday. The weaponization of the yuan by Beijing has continued for 9th straight day and traders are getting more troubled for the outlook of the currency. Major currencies have taken advantage of the weakening dollar. The USD slightly gained ground against the CNY, …
The Chinese yuan faces a hurdle as forex traders expect the currency to weaken in the coming trading sessions. The market is shifting their attention to the upcoming release of the Chinese retail sales data for July. The CNYUSD exchange pair is moving sluggishly, losing 0.01% or 0.0000 points, trading at ¥0.1415 the same from …
The GBPUSD pair recovered from its losses last Friday. The pair inched its way up to 0.21%, or 0.0025 points, and has reached ranges of £1.2015 to £1.2069 during yesterday’s trading session. The weaker-than-expected data from the UK economy has weighed on the pound sterling. The UK economy saw a decline of 0.2%, far worse …
The GBPUSD pair is making a slight recovery in today’s trading after seen struggling last Friday. The news of the British economy declining for the second quarter of 2019 worried pound traders. The UK economy lost 0.2 percent in the months of April to June. According to the National Statistics Office, the data broke economists’ …
In the forex markets, the yuan rose versus the U.S. dollar on Thursday. The People’s Bank of China (PBOC) set the reference rate for the Chinese currency to its weakest level since 2008. Earlier, the USD/CNY currency pair declined 0.2% to 7.0423. Meanwhile, the Chinese yuan was not getting a great deal of public attention this week …
In the forex markets, the yuan rose versus the U.S. dollar on Thursday. The People’s Bank of China (PBOC) set the reference rate for the Chinese currency to its weakest level since 2008. Earlier, the USD/CNY currency pair declined 0.2% to 7.0423. Meanwhile, the Chinese yuan was not getting a great deal of public attention this week …
On Thursday, despite the People’s Bank of China (PBOC) setting the official reference rate for the Chinese currency at the weakest level since 2008, the yuan strengthened versus the U.S. dollar in the forex markets. The USD/CNY currency pair declined 0.2% to 7.0423. Meanwhile, the Chinese yuan was not getting a great deal of public attention this …
Yuan Strengthens, Dollar Firm in the Forex Markets Read More »
The forex markets just witnessed the RBNZ go with the flow of dovish turn in the global economy. This has turned traders betting against the New Zealand dollar. After the RBNZ announced the 50-basis-point cut on Tuesday, the kiwi tumbled to record lows. The NZDUSD pair plummeted 1.9% to 0.6400. The markets are also betting …
Taking the markets by surprise, the Reserve Bank of New Zealand (RBNZ) decided to cut its official cash rate (OCR) by 50 basis points. The OCR is now at 1.0%, with the 50-point cut being higher than market expectations. Meanwhile, mortgage interest rates will probably slide lower after this, even though they’re already at record …
Earlier, in the forex markets, the pound-to-euro (GBP/EUR) currency pair exchange rate recovered slightly from the losses it has recorded, despite the firm German data going above expectations. The euro (EUR) was unable to have firm highs versus the sterling (GBP) amid trade war fears. Meanwhile, the GBP/EUR currency pair plunged from 1.1121 to 1.0946 …
Pound to Euro Exchange Rate Regains in the Forex Market Read More »
This morning in the forex markets, despite the firm German data above expectations, the pound-to-euro (GBP/EUR) currency pair exchange rate recovered slightly from the losses it recorded the previous day. Meanwhile, the euro (EUR) was incapable of holding its highs versus the sterling (GBP) amid trade war fears. Last week’s GBP/EUR currency pair plunged from …
Pound to Euro Exchange Rate Regains in the Forex Markets Read More »
In Europe, the U.S. dollar kicked its highest level in two months. It has resumed an upward trend versus both the euro and sterling after weak performances on Thursday. During Asian trading, the dollar index, which tracks the greenback versus a basket of developed-market peers, gained 97.627. It was also increasing just above level 4, …
On Thursday, the euro value was on a two-month low, ahead of a European Central Bank summit. Growth in the currency zone weakens, and this could indicate monetary easing. Opinions toward the single currency took a setback. It was after data showed Germany’s manufacturing sector contracted at the fastest pace in seven years. Meanwhile, French …
On Monday, the dollar strengthened against the yen on the forex markets. Investors toughened outlooks for an aggressive Federal Reserve interest rate cut later this month. The dollar grew 0.2% versus the yen to 107.92 due to the rise in U.S yields. Friday’s modest gains were pushed by the benchmark 10-year Treasury yield and scaled …
On Wednesday, fears over a “Hard Brexit” and a probable general election took a higher risk premium for all sterling assets in the forex markets. In addition, the British pound plunged to its lowest in more than two years in early trading in Europe. In a news report, Boris Johnson called for a general election, …
Political Risk Affects Sterling in the Forex Markets Read More »
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