Posts From Ian Maguire
Brexit Issue, Weak Construction Data Keeps Pound Bearish
The pound declined yesterday against its key rivals, including the greenback, as the UK legislators who are against a no-deal Brexit are getting ready to block Brexit in the House of Commons. Furthermore, the negative impact of economic data
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Decline In Q2 Capital Expenditure Turns Aussie Bearish
The Aussie weakened against the greenback yesterday after the country’s capital expenditure dropped unexpectedly in the Q2 2019 as strong investment growth in equipment and machinery was negated by sluggish spending on buildings. The increase in import duties on
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Euro Down As German Business Confidence Hits 7-yr Low
The eurodollar declined against the greenback yesterday after the data published by Germany’s Ifo institute indicated a decline in business confidence to a seven-year low. Economists are worried that the series of weak economic data signals a recession in
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Ruble Up As Russia Posts 1.7% y-o-y GDP Growth in July
The Russian ruble started gaining against the greenback yesterday after recent calls were made to bring back Moscow into the G7 group. Following the invasion and takeover of Crimea, Russia was booted out of the group of eight economies
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Thai Baht Turns Weak As GDP Growth Slows To 5-yr Low
The Thai baht turned volatile yesterday against the greenback after the National Economic and Social Development Council reported a five-year low economic growth in the second quarter due to weak domestic demand and sluggish exports. The institution also downgraded
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Aussie Strengthens On Strong Job Data
The Aussie gained against the G10 currencies yesterday following the release of strong employment data for July, decreasing the chances of a rate cut by the RBA (Reserve Bank of Australia) in the September policy meeting. The postponement of
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Yen Up On Global Economic Volatility & Uncertainty
The yen recorded its 1-1/2 year high against the greenback as investors increased bets that the Japanese currency could strengthen further in case of an extended trade war between the US and China. The currency markets also recorded low
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Kiwi Dollar Declines On Deeper Rate Cut By RBNZ
The New Zealand dollar fell against the greenback yesterday after its central bank slashed the benchmark interest rate by 50 basis points to boost inflationary pressure and spur economic growth. The Kiwi dollar’s decline was also fueled by the
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Nexo Partners With Mastercard To Launch Crypto Debit Card
The cryptocurrency market has started rebounding this week after Bitcoin (BTC) broke above $10,000 level once again. Bitcoin (BTC), at the time of writing this article, has gained 1.5% to trade at $11,669. One of the main reasons for
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Euro Declines On Weak Q2 GDP Growth Data
The eurodollar fell against the yen yesterday after news reports indicated that the economy grew at a slower pace in Q2 2019, while inflation stood at a 17-month low. The yen, on the contrary, strengthened on increase in demand
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