Forex News

The New Zealand dollar attempted to rally today, but failed and followed its Australian counterpart in decline. The currency dropped even as the inflation print came out better than expected.

The Australian dollar dropped following the release of a disappointing employment report. While the currency attempted to bounce afterwards, it failed and continued to move down, erasing the intraday gains.

The British pound today declined against the US dollar following the release of disappointing UK retail sales data in the early European session. However, the pound recovered almost immediately and went on to hit a daily high in the mid-European session, before declining from the early American session.

The euro today rallied against the US dollar during the European session after the release of the final Eurozone CPI data. The euro was on a downtrend against the greenback during the Asian session following the risk-on sentiment in the global markets, which later resumed in the early American session.

The British pound today dropped significantly against the US dollar following the release of disappointing UK Consumer Price Index data in the early European session. The pound’s decline started during yesterday session after the release of weak UK wages report and upbeat US housing report, which made the pound drop from its post-Brexit highs.

The Australian dollar remained rather vulnerable today, falling against its most-traded rivals, though it remained slightly above the opening level versus the soft Japanese yen.

The Japanese yen fell against the US dollar during the current trading session. While the currency had also been down versus other rivals intraday, currently the yen reversed its decline, erasing losses outright against some peers.

The Australian dollar was somewhat soft on Tuesday after the release of policy minutes by the Reserve Bank of Australia. Macroeconomic data from China, Australia’s biggest trading partner, did not help the currency, being rather mixed.

The Canadian dollar gained on most of its major peers on Tuesday. While Canada’s economic data was mixed, the silver lining for the currency was the rally of crude oil prices.

The euro fell against most its major rivals (though not against the weak Great Britain pound) on Tuesday as the ZEW Economic Sentiment for Germany was rather disappointing.