Live Forex news from all over the world.
The Canadian dollar today dropped drastically against the US dollar following the release of the latest Canadian Consumer Price Index data, which missed expectations by a huge margin. The loonie’s massive drop drove the USD/CAD currency pair to new 2018 highs as it was further accelerated by the weak Canadian retail sales data also released today.
The Japanese yen was in red against basically all other most-traded currencies today despite relatively positive domestic macroeconomic data. Some market analysts explained the weakness by rising global bond yields.
The euro today rallied higher against the US dollar after finance ministers from across the Eurozone reached an agreement regarding Greece’s final bailout. The euro’s rally was further complemented by the release of positive PMI data from across the Eurozone by IHS Markit and in-line French GDP data.
The Canadian dollar fell against other most-traded currencies today, though managed to recover versus the US dollar by now. The currency was under pressure from a range of negative factors, including falling prices for crude oil, trade tensions with the United States, and underwhelming domestic macroeconomic data.
The Swiss franc gained on most other major currencies, with the exception of the Great Britain pound, which got a boost from the relatively hawkish stance of the Bank of England. The outlook expressed by Switzerland’s own central bank was far less optimistic, but that did not prevent the Swissie from rising.
The New Zealand dollar fell today after a report showed that the New Zealand economic growth slowed last quarter. The currency managed to trim losses by now, erasing them against the US dollar entirely.
The British pound today rallied higher against the US dollar after the Bank of England announced its monetary policy decision with more members than before voting for a rate hike. The pound had traded lower following the release of the disappointing UK public sector finances report for May early in the European session.
The Great Britain pound rose against its major rivals today ahead of tomorrow’s monetary policy decision. Today’s domestic macroeconomic data was positive to the currency.
The Australian dollar attempted to rally today as markets were digesting the news about escalation of the trade war between the United States and China. By now, though, the currency has lost most of its gains and is trading near the opening level.
The euro today traded slightly lower against the US dollar following comments by some members of the European Central Bank‘s governing council. The dovish comments by Ewald Nowotny and Villeroy triggered a knee-jerk reaction by the EUR/USD currency pair, which headed lower.
