Live Forex news from all over the world.
The Great Britain pound ended the week as the weakest currency on the Forex market as the Brexit and associated uncertainties were in the center of the traders’ attention. The US dollar, on the other hand, ended the week strongest due to risk aversion.
The euro today crashed to new monthly lows in the early European session following the release of multiple disappointing flash PMI readings from across the eurozone by IHS Markit. The EUR/USD currency pair later extended its losses following the release of upbeat US advance retail sales data for November in the early American session.
The Chinese yuan is weakening at the end of the trading week on recent National Bureau of Statistics (NBS) data that disappointed investors. This year, the currency’s descent has been in line with the trends plaguing the national economy, leaving many analysts wondering if the yuan will maintain this negative performance in 2019.
The Japanese yen gained against its major rivals today. While the currency has basically erased its gains versus the US dollar by now, it retained them versus other majors. Domestic macroeconomic reports released over the trading session were good, but the general risk-averse market sentiment likely played a bigger part in the yen’s rally.
The Great Britain pound crashed today, erasing yesterday’s gains versus a range of major currencies, as UK Prime Minister Theresa May was unable to renegotiate the Brexit deal with the European Union.
The New Zealand dollar fell during the Friday’s trading session. While domestic macroeconomic data was decent, some of the reports from New Zealand’s biggest trading partner, China, were disappointing.
The Australian dollar declined today after China released a bunch of macroeconomic indicators, some of which missed expectations. China is Australia’s biggest trading partner, making its economic well-being very important for the Australian economy and currency.
The euro today rallied before the European Central Bank rate announcement, but dropped lower after the dovish comments made by the ECB President following the announcement. The pair headed lower in the American session despite the release of disappointing American macro data.
The Japanese yen is weakening against its US counterpart on Thursday after new data missed market forecasts. The currency is now looking to find direction on news that the federal government is aiming to allow more foreign workers to fill the labor gap in the world’s third-largest economy.
The Swiss franc was relatively strong today, trading flat against some currencies while gaining versus others. That was surprising, considering that the central bank left interest rates in the negative territory and lowered inflation projections.
