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Chinese Yuan Strengthens Against USD on Upbeat GDP, Retail Sales

The Chinese yuan reversed its recent downward trend against the US dollar to kick off the trading week, breaking below 6.7 on positive economic data. The latest figures show that the post-coronavirus recovery is doing well, from growth to retail sales. This has Beijing anticipating that the world’s second-largest economy will be one of the few Asian countries to report growth in 2020. How will this benefit the currency?

Safety Net at 0.7010 on AUD/USD for the Pressured Bulls?

The Australian versus the US dollar currency pair seems to have a hard time resuming the upward movement. It is the trend approaching the end of its evolution?

USD/CHF Flat on Inflation, Investors Weigh SNB Comments

The Swiss franc is trading relatively flat against the US dollar to finish the trading week. The safe-haven asset, which has been one of the top-performing currencies in this year’s chaotic financial market, was struggling to find direction amid the latest producer and import prices and the central bank’s lack of enthusiasm over negative interest rates. Despite a bombardment of foreign exchange interventions, the franc continues to appreciate, frustrating policymakers.

Great Britain Pound Flat Despite Worrying Brexit News

The Great Britain pound was mostly flat today despite concerning Brexit news headlines. While the sterling was trading either near the opening level or slightly higher against most of its rivals, it fell versus the Canadian dollar.

Canadian Dollar Rallies Against US Peer Driven by Dollar Dynamics

The Canadian dollar today rallied against its US peer benefitting heavily from the latter’s decline as investors remained cautiously optimistic about the global economy. The USD/CAD currency pair fell as the loonie rallied driven by the upbeat investor sentiment as Canada insists that it will not open its borders to Americans given the surge in US coronavirus cases.

Euro Rallies on ECB Comments and In-Line Eurozone Inflation Data

The euro today inched higher against the dollar as rising eurozone coronavirus cases continued to weigh on the single currency amid mixed inflation reports. The EUR/USD currency pair was trading sideways earlier today before surging higher boosted by positive comments from European Central Bank policymakers.

NZ Dollar Mixed After Economic Data, Ahead of Election

The New Zealand dollar was mixed today, though it largely did not go far from the opening level against its major rivals. The notable exceptions were the Great Britain pound and the Australian dollar, with the former demonstrating a decent gain and the latter showing a decline versus the kiwi.

USD/JPY Respecting the 105.09 Support?

The United States dollar versus the Japanese yen currency pair seems to be under bullish control.

Euro Falls on Rising EU Coronavirus Cases and Risk-Off Sentiment

The euro today fell against the US dollar driven the risk-off market sentiment amid rising coronavirus cases in the euro area stoking fears of more lockdowns. The EUR/USD currency pair fell to new 2-week lows as US stimulus talks stall ahead of the November 3 Presidential election as opinion polls place Joe Biden ahead of Trump.

US Dollar Jumps As Initial Jobless Claims Surge to Seven-Week High

The US dollar is rising on Thursday after the US government reported that initial jobless claims surged more than the market had anticipated. The greenback is witnessing an influx of traders who seeking shelter from the slide in the broader financial market. With the leading benchmark indexes in the red and the metal commodities sliding, investors are searching for protection in the buck.

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