Live Forex news from all over the world.
The Canadian dollar today fell against its US counterpart as investors reacted to a drop in global crude oil prices during today’s session. The loonie, whose performance is closely linked to crude oil prices, fell despite the lack of much activity around the greenback as US markets remain closed.
The Australian dollar demonstrated small losses during the current trading session after economic data showed slowing growth in China, Australia’s biggest trading partner. Trading was more quiet than usual today as US markets are closed for a holiday.
The US dollar was one of the strongest currencies during the trading week, mostly due to the optimism about Sino-US trade negotiations. Surprisingly, the Great Britain pound was also strong despite the unfolding Brexit drama.
The Canadian dollar managed to gain on most of its major rivals today, excluding the US dollar, thanks to the better-than-expected inflation print released by Statistics Canada during the trading session.
The US dollar gained momentum on Friday, extending its gains over the past week. The greenback edged higher on mixed economic reports were released and breaking news that China is offering a $1 trillion-a-year olive branch on imports that could end the trade war almost immediately.
The British pound today fell from yesterday’s 2-month highs against the US dollar following Theresa May‘s victory in the no-confidence vote against her on Wednesday. The GBP/USD currency pair today declined as markets monitored Brexit developments amid low volatility.
The Swiss franc was mixed today following the release of producer inflation data, which showed a bigger-than-expected decline. The general market sentiment was optimistic, weighing on safe currencies like the Swissie and the Japanese yen.
The euro today traded in a stable rage against the US dollar as investors revised their expectations of a rate hike by the ECB. The single currency was not appealing to investors who have had to deal with weak data releases from the eurozone and a dovish European Central Bank.
The Great Britain pound fell against other most-traded rivals, even the weak Japanese yen, after official data showed that retail sales declined last month.
The Japanese yen fell against majority of its most-traded peers today due to risk appetite prevailing on markets. Disappointing inflation report was not helping the currency either.
