Live Forex news from all over the world.
The Chinese yuan is rebounding from a two-week low as economic worries dissipate. The yuan, which was one of the weakest Asian currencies last year, is gaining on reports that the federal government does not want to see it weaken too much should it affect trade negotiations. There has been talk that the world’s two largest economies are inching towards a new trade agreement.
The Canadian dollar today dropped to new daily lows against its US counterpart following the release of weak Canadian retail sales data. The loonie had made gains against the greenback earlier today as evidenced by the USD/CAD currency pair’s decline before retracing all of its gains after the release.
The Japanese yen was soft today after the Bank of Japan performed a monetary policy meeting and revised its economic projections. The losses were not particularly big, though.
The New Zealand dollar climbed by the end of the Tuesday’s trading session and continued to rally during the early Wednesday’s session. The rally was a result of the better-than-expected inflation data. Before the report, the currency was moving either sideways or down versus its major peers.
The Canadian dollar fell against its most-traded peers today after the release of negative macroeconomic data and as the market sentiment soured on worsening global growth projections.
The US dollar is firming to its best level in two weeks on better-than-expected industrial figures and improved US-China trade relations. Greenback investors are shrugging off warnings of sluggish global economic growth and weak Chinese economic data. Heading into 2019, traders anticipated a bearish trend, but the currency has performed modestly well against a basket of currencies.
The euro fell against most of its major rivals today even after the German economic sentiment improved unexpectedly. The losses were small for the most part, though.
The Sterling pound today rallied higher against the US dollar following the release of upbeat UK wages data in the early European session. The pound was also boosted by investor hopes of another Brexit referendum after the Labour Party introduced a motion to back the same in Parliament.
The Chinese yuan weakened against its major currency rivals to kick off the trading week as the latest gross domestic product (GDP) figures were released. And it was not pretty for the world’s second-largest economy, though some traders are finding needles in a haystack with government data.
The Canadian dollar today fell against its US counterpart as investors reacted to a drop in global crude oil prices during today’s session. The loonie, whose performance is closely linked to crude oil prices, fell despite the lack of much activity around the greenback as US markets remain closed.
