The Australian dollar is the most losing among the list of major currencies!

2023-10-02 13:41:00

The Australian dollar is the most losing among the list of major currencies!

Arabictrader.com – It topped the list of currencies with the biggest losses today, with a percentage of up to 1.87%, affected by some negative developments in the currency markets today, most notably the weak appetite for risk in the markets, along with negative purchasing managers’ index data for the service and manufacturing sectors in China during last September.

According to the data, the Caixin Services Purchasing Managers’ Index (PMI) in China recorded growth less than expected, as the index grew by regarding 50.2 points in September, less than market expectations that indicated the index would grow by regarding 52.0 points, while the previous reading had recorded growth of regarding 51.8 points. These negative data had a negative impact on the Australian dollar’s ​​movements once morest other currencies, in conjunction with the strength of trade relations and partnerships between China and Australia.

In second place on the list of losing currencies today comes with damage amounting to 1.44% due to weak appetite for risk in the currency markets, which was damaged as a result of weak economic data in China, which is New Zealand’s largest trading partner, and any negative Chinese economic data always has negative repercussions on the movements of the New Zealand dollar in the market. Currencies.

While in third place on the list of currencies with the most losses today, it comes with an estimated rate of regarding 1.04%, in light of the damage to the sterling from the strengthening expectations that the Bank of England will keep monetary policy unchanged during its next meeting, especially following the pace of high inflation within the country calmed down, as figures from the Bank showed. Nationwide Mortgage reported today, Monday, that British house prices decreased last September, by 5.3% from the previous year, which is consistent with their decline in August, which was the largest annual decline since 2009. On a monthly basis, prices did not change in September following falling by 0.8% during August, and given this decline in British house prices, which is considered one of the sources of high inflation in the country, currency market expectations regarding the continued decline in British inflation rose significantly, which increased pressure on the sterling once morest the major currencies.

Finally, the Euro came at the bottom of the list of the most affected currencies today with a damage rate of 0.85%, as negative inflation data in the Eurozone continues to cast a negative shadow on the unified performance in the currency markets, especially following economic evidence showed a decline in the inflation rate, which excludes energy and food costs in… region to record 4.5% during September, and the headline inflation rate also declined from 5.2% to 4.3%, recording its lowest level in almost two years, which strengthened currency markets’ expectations that the European Central Bank would stop tightening monetary policy further during the coming period, which was reflected in Negatively on the euro’s performance in currency markets.

See the original article

1696255258
#Australian #dollar #losing #among #list #major #currencies