Live Forex news from all over the world.
The US dollar fell against the euro and the Canadian dollar on Monday, to begin a week busy with major economic releases on a negative note. The greenback weakened in the wake of a disappointing reading for the growth of durable goods orders today, which further signaled a loss of economic momentum that weighed on the US dollar in recent weeks.
The GBP/USD currency pair today rallied higher after news emerged that Theresa May had struck a deal with the DUP to form a minority government. The British pound rallied higher against the US dollar after the release of disappointing US durable goods orders figures by the Census Bureau, which did not meet expectations.
The market sentiment was positive to risky currencies today, driving the Swiss franc down against its most-traded counterparts.
The Japanese yen fell today against its major peers after the Bank of Japan released the Summary of Opinions expressed during the June policy meeting. The optimistic market sentiment was also unfavorable to the currency.
The outlook for monetary policies of central banks around the world were one of the main driving factors for the Forex market this week. But while the outlook for Bank of England monetary policy became more hawkish, it was not enough to support the Great Britain pound.
The Great Britain pound rose today as hawkish comments from policy makers led to speculations about interest rate hikes from the Bank of England in the foreseeable future.
The US dollar tumbled against major rivals on Friday following the release of lackluster manufacturing activity data and weak new home sales. Traders’ appetite for the greenback was also affected by anticipation for speeches of Federal Reserve officials today and US inflation data next week.
The Canadian dollar today weakened against the US dollar after the release of disappointing Canadian inflation data by Statistics Canada. The Consumer Price Index report for the month of May disappointed both on a monthly basis and also on an annualized basis.
The euro was stable today after the release of Purchasing Managers’ Indexes from Markit Economics.
The Japanese yen was little changed today after a report from Markit showed that growth of Japan’s manufacturing sector slowed unexpectedly this month.
