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Canadian Dollar Steadies as Wholesale Trade Exceeds Forecasts

The Canadian dollar traded within a tight range against its US counterpart on Monday, following a week that was void of any big events. The Canadian currency was supported by wholesale trade growth data today, but it failed to gain any steady momentum.

British Pound Performs Better Ahead of Brexit Vote by House of Lords

The British pound today performed better against most of its main competitors as markets await the vote by the House of Lords on triggering article 50. The British pound was one of the better performing currencies during the European session as the American market remained closed due to the celebration of Presidents’ Day in the USA.

Euro Attempts to Rally, Remains in Danger from Negative Factors

The euro edged higher against some if its major rivals amid the risk-positive market sentiment and news that France’s left-wing forces failed to unite and present a joint candidate in the presidential race. Still, the currency was not particularly strong as negative factors, which were dragging it down previously, did not go away.

Japanese Yen Starts Week with Losses

The Japanese yen opened lower and proceeded to fall during the current trading session as the optimistic market sentiment and Japan’s shrinking trade surplus weighed on the currency.

New Zealand Dollar Starts Week Sharply Higher

This week’s trading has started with a risk-positive sentiment on the Forex market. That, coupled with favorable domestic data, made the New Zealand dollar open sharply higher, though the currency has retreated by now.

US Dollar Fails to Capitalize on Positive Fundamentals

The US dollar was trading in a narrow range during the past trading week, closing almost flat against the vast majority of its most-traded peers. The only exception was the Japanese yen, against which the dollar rallied during the week but slid below the opening level by the weekend.

Euro Fails to Profit from Better-Than-Expected Current Account

The was almost flat against some other most-traded currencies (like the Great Britain pound and the Swiss franc) and logged a sharp decline against others (including the US dollar and the Japanese yen).

AUD/USD Bullish Trend Reverses, Despite Positive Australian Employment Data

The AUD/USD currency declined significantly today to reverse the bullish trend that the currency pair has enjoyed since the beginning of the year. This was a major reversal from the currency pair’s rally witnessed yesterday after the release of positive Australian employment data for the month of January.

Japanese Yen Rises Against Dollar Despite Strong US Economic Data

The Japanese yen rose against its US rival on Friday to extend its gains for the third day in a row, as strong economic data in the United States failed to support the nation’s currency. The yen is set to end the week at its strongest level since February 9.

UK Retails Sales Decline, Sterling Loses Ground

The Great Britain pound fell today as Britain’s retail sales logged an unexpected decline last month, continuing the trend of worse-than-expected economic releases.

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