Live Forex news from all over the world.
The Chinese yuan is strengthening midweek against its American counterpart, despite warnings from officials about the national economy. The Chinese economy was a key subject of discussion at this year’s annual World Economic Forum (WEF) in Tianjin. This comes as the world’s two largest economies slapped tariffs on both of their exports on Tuesday.
The euro today rallied to new highs in the early European session even as German bond yields hit new tops and the US dollar retreated. However, the EUR/USD currency pair proceeded to give up all its gains as the greenback rebounded amid rising US bond yields and Irish border concerns.
The Sterling pound today rallied higher against the US dollar following the release of the latest UK inflation data, which beat expectations by a huge margin. The GBP/USD currency pair today rallied to new six-week highs following the positive releases, but later dropped to new lows due to negative Brexit headlines.
The Japanese yen remained broadly weaker against its most-traded rivals. While domestic releases were unfavorable to the currency, the major reason for the yen’s weakness was the market sentiment that favored riskier currencies, not safer ones.
Macroeconomic data released in New Zealand today was unfavorable to the New Zealand dollar. Yet the currency managed to rise nonetheless, likely boosted by the same positive sentiment that helped its Australian counterpart.
The Australian dollar rallied today despite lackluster macroeconomic data. The currency got support from the positive market sentiment that ignored the latest developments in the US-China trade war.
The Japanese yen was weak today ahead of tomorrow’s policy meeting as markets largely ignored escalating trade tensions between the United States and China, lowering demand for the currency as a safe haven.
The Australian dollar dipped initially today following the release of central bank’s monetary policy minutes and poor macroeconomic data. Yet the currency has bounced by now after markets had calmed, largely ignoring US tariffs on Chinese goods.
The Chinese yuan weakened on Tuesday after the US government announced new tariffs on tens of billions of dollars worth of Chinese goods. As expected, Beijing retaliated a day later, confirming its own import levies on American products. This is the latest development in the intensifying US-China trade war, causing mixed results: analysts are worried but markets have yet to be rattled.
The Canadian dollar, which enjoyed its biggest weekly gain since April last week, is posting modest gains on Monday as investors are bracing for a week of tense North American Free Trade Agreement (NAFTA) talks. Officials are being pressed to reach a deal, especially with Mexico’s president-elect about to take office and the US holding midterm elections in November. Traders feel that the added pressure might lead to a conclusion, […]
