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Chinese Yuan Mixed As Market Weighs PBOC’s Overhaul to Interest Rates

The Chinese yuan is mixed at the end of the trading week as the market weighs the People’s Bank of China (PBOC)’s long-postponed measure to overhaul interest rates. Investors might also be anxious over new data that found soaring debt levels and rising unemployment in the world’s second-largest economy could threaten stimulus initiatives. Other reports suggest the US wants Beijing to “double or triple” its offer to purchase American goods has not […]

Japanese Yen Gains, Ignoring Poor Domestic Data

The Japanese yen gained against its most-traded rivals today despite worse-than-expected domestic macroeconomic data.

Australian Dollar Mixed After PMI Releases

The Australian dollar was mixed, falling against some rivals but gaining on the euro. Markit released PMIs for manufacturing and services industries today, which were not particularly good.

Euro Crashes on Disappointing Eurozone PMI Prints

The euro today crashed against the US dollar in the early European session following the release of disappointing PMI data from across the eurozone by IHS Markit. The EUR/USD currency pair’s crash was triggered by the release of disappointing German and eurozone PMI prints, which came in at record lows painting a bleak picture for most eurozone economies.

Sterling Pound Drops on BoE Rate Decision and Brexit Headlines

The Sterling pound today fell to new lows against the US dollar as it was buffeted by negative Brexit headlines from the early London session. The GBP/USD currency pair later fell to new record lows on rumors that the EU will allow an extension of Article 50 up to May 22, which is quite short.

Norwegian Krone Gains After Norges Bank Hikes Interest Rates

The Norwegian krone managed to gain on the US dollar even though the greenback was generally strong today, rebounding after yesterday’s losses. The most likely reason for that was the interest rate hike by Norway’s central bank.

Swiss Franc Gains Despite SNB Keeping Negative Interest Rates

The Swiss franc rallied against most major currencies today, with the exception of the US dollar, which was rebounding after yesterday’s losses. Markets largely ignored the monetary policy meeting of the Swiss National Bank.

Australian Dollar Surges After Employment Report, Loses Gains Later

The Australian dollar surged after release of a domestic employment report even though the data was mixed. By now, though, the currency has lost its gains, trading below the opening level against its most-traded rivals.

Euro Surges on Dovish Fed, Capped by Debt Warnings

The euro is rallying against a basket of major currencies on Thursday, buoyed by a dovish Federal Reserve. The gains were capped by a new report that sounded the alarm about public debt binges that threaten the stability of the currency.

Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices

The Canadian dollar fell against most of its major peers on Wednesday, with the exception of the US dollar. That was surprising, considering that fundamentals did not look particularly bad for the currency.

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