China Faces Downgrade

China’s economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday. The International Monetary Fund already had trimmed its growth forecast for China to 6.2 percent this year, assuming no new tariffs are…

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data The central banks of India, Thailand and New Zealand cut their benchmark interest rates on Wednesday as policy makers start walking the dovish walk. The Bank of Canada (BoC) had some breathing room after the Fed cut by 25 basis…

Australian Dollar: USD/AUD (AUD=X) better than expected Chinese trade also helped fuel the recovery

Australian Dollar: USD/AUD (AUD=X) better than expected Chinese trade also helped fuel the recovery Volatility wise, it was a relatively quiet day in the forex market. USD/JPY extended its losses but the greenback recovered against euro, sterling and other major currencies. The rallies in the Australian and New Zealand dollars were the strongest with both…

New Zealand Dollar: NZD/USD (NZD=X) RBNZ looks to have gone full-blown dovish with more talks of negative rates and unconventional policies today

New Zealand Dollar: NZD/USD (NZD=X) RBNZ looks to have gone full-blown dovish with more talks of negative rates and unconventional policies today The pair is looking to snap a run of ten consecutive daily losses today as the kiwi is holding firmer after the drop following the RBNZ decision to cut its OCR by 50…