On Monday, the Australian dollar tumbled ahead of China’s second quarter GDP supposed to set the overall tone for demand for commodities.
Tracking the US currency’s value versus a basket of key six currencies, the US dollar index declined 0.04%, trading at 94.86.
China posted second quarter GDP surge with a profit of 1.7%, which generally matched expectations and a year-on-year leap of 6.9%, which came in moderately higher than the forecast 6.8%. Furthermore, China unveiled that the country’s industrial output added 7.6% in June from a year earlier, while retail sales tacked on 11% in the same month.
The currency pair AUD/USD showed 0.7823, slumping 0.09% with China a key trading partner for metal, energy as well as food commodities. Meanwhile, USD/JPY demonstrated 112.44, sinking 0.09%.
On Thursday, the ECB meeting will offer fresh clues on when the key bank will give up its ultra-easy policy. On Monday, Japanese markets aren’t available for a holiday.
American multinational companies get down to reevaluating their currency hedging strategies following a leap in the evergreen buck for recent months because the impact of the stronger US currency starts influencing second-quarter corporate profits…
On Wednesday, the British pound headed south to the lowest value for 10 months versus the broadly stronger greenback because suddenly dismal British inflation data decreased chances for an August rate lift by Britain’s key financial institution…
On Wednesday, the evergreen buck managed to jump because Fed Chair Jerome Powell came up with an upbeat assessment of the American economy at his Tuesday’s semi-annual congressional testimony…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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