Live Forex news from all over the world.
The US dollar is mixed against several major currency rivals on Tuesday after the latest industrial and manufacturing output numbers were published. But global financial markets are bracing for the Federal Reserve’s decision on interest rates, which the market is now split on. In the backdrop is low-level US-China trade discussions restarting later this week.
The Swedish krona was extremely vulnerable today after the unemployment rate jumped to the highest level in four years and the central bank signaled that it will likely delay the planned interest rate hikes.
The Canadian dollar was mixed today, rising against some rivals, falling versus others, and staying flat against some. Fundamentals were negative to the currency, with an unexpectedly big drop in manufacturing sales and retreating prices for crude oil.
The Swiss franc was very soft today after the downgrade of Switzerland’s economic growth outlook. The Swissie fell against major rivals and lost earlier gains versus commodity currencies.
The euro rallied today after the release of positive economic sentiment figures for Germany as well as the whole eurozone. But economists are worried that the eurozone economy is still extremely vulnerable and the improvement of the sentiment does not reflect the underline strength of the economic activity.
The Indonesian rupiah fell against the US dollar today as the market sentiment was unfavorable to riskier currencies. Indonesia’s trade balance improved last month, but the indicator was not as good as it seems at first glance.
The Australian dollar declined today against other most-traded currencies. While the general market sentiment was unfavorable to riskier commodity currencies, analysts argued that the main reason for the Aussie’s decline was the release of the central bank’s monetary policy minutes. Domestic macroeconomic data was poor but better than pessimistic forecasts.
The New Zealand dollar fell today due to mild risk aversion on the Forex market as well as falling consumer confidence in New Zealand.
The Chinese yuan is strengthening against major currency rivals to kick off the trading week, despite recent economic data falling short of expectations. Investors seem to be more bullish on US-China trade optimism, partially ignoring the latest industrial and retail sales numbers.
The Australian dollar versus the Canadian dollar currency pair seems to have ended the descending period and is now looking for extensions on the upside.
