Forex News

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US Dollar Plummets After Steven Mnuchin Interview and Jobless Claims Data

The US dollar today plummeted to new lows today after the US Treasury Secretary Steven Mnuchin failed to clarify the details of Donald Trump’s ‘phenomenal tax’ plan during an interview. The greenback was also affected negatively by the higher-than-expected initial jobless claims data for last week.

Aussie Bounces After Intraday Drop

The Australian dollar dipped intraday, but the losses were short-lived, and the currency has climbed above the opening level by now. Other commodity currencies, like the Canadian and New Zealand dollar, demonstrated the similar performance during the Thursday’s trading session.

Pound Gains on Dollar & Euro After Retail Sales Data

The Great Britain pound rose against the US dollar and the euro today thanks to improving retail sales, though analysts were not entirely optimistic.

Canadian Dollar Falls, Trims Losses After Fed Minutes

The Canadian dollar fell on Wednesday due to the drop of crude oil prices and unfavorable domestic macroeconomic data. The currency managed to trim its losses after the release of policy minutes from the Federal Reserve.

British Pound Drops Against US Dollar Despite Positive Revision for UK GDP

The British pound dropped against its US counterpart on Wednesday, even as the gross domestic product growth in the United Kingdom during the last quarter of 2016 was revised higher. Demand for the US dollar was higher today following the release of the minutes of the Federal Reserve’s latest policy meeting, which signaled that interest rates could be raised soon.

US Dollar Rallies, Later Retreats, as Markets Await Release of FOMC Minutes

The US dollar rallied against its main peers today as markets await the release of minutes of the Federal Open Market Committee scheduled for later today. The US dollar gained significantly against its main peers for the fourth consecutive session even as the National Association of Realtors reported higher than expected figures for January home sales.

Euro Off Session Lows as Political Fears Subside

The euro rebounded from daily lows, trimming losses against some currencies and rallying versus others, as concerns about the outcome of the French presidential elections eased. Macroeconomic data released from the eurozone today was good, adding to the strength of the shared 19-nation currency.

Japanese Yen Gains as Kuroda Says No More Interest Rate Cuts

The Japanese yen rose today, reaching the highest level since November 29 against the euro, after Bank of Japan Governor Haruhiko Kuroda signaled that he does not plan cutting interest rates deeper into the negative territory.

Aussie Reaches Multi-Year Highs, Ignoring Economic Data

Macroeconomic data released from Australia today was mixed, but that did not prevent the Australian dollar from rising and even reaching multi-year highs against such currencies like the euro and the Swiss franc.

British Pound Struggles to Find Direction Despite Hawkish Comments from BoE Governor

The British pound today struggled to find direction as it demonstrated mixed results against its main competitors such as the US dollar, the euro, and the Japanese yen. The Bank of England Governor, Mark Carney, told the UK Parliament that a smooth Brexit process could lead to a faster rate of hiking interest rates.