Forex News

The euro was soft today. While the currency managed to gain on the US dollar thanks to the dovish Federal Reserve, unfavorable domestic macroeconomic data prevented the euro from rising against other most-traded rivals.

The Canadian dollar was firm today after nation’s consumer inflation accelerated and beat analysts’ expectations. The rally of crude oil prices likely also helped the currency.

The US dollar was mixed against its major rivals midweek as analysts and investors are trying to make heads and tails of the Federal Reserve‘s latest policy announcement. The US central bank left interest rates unchanged, but it confirmed that it will “closely monitor” the numbers to determine if rates need to be lowered. Despite the dovish signals, Fed officials are still optimistic about the US economy, sticking […]

The British pound today rallied higher in the early London session following the release of the latest UK inflation data, which was in line with consensus estimates. The GBP/USD currency pair extended yesterday’s gains and rallied into the American session to print new weekly highs driven by positive investor sentiment.

The Australian dollar versus the US dollar hits the first target, at 0.6858. The upcoming move could be very interesting.

The Australian dollar was mixed today, falling against some rivals and staying flat versus others, after the country’s leading index continued to decline.

The Japanese yen was flat against most major currencies today, though fell versus the Swiss franc. The trading was somewhat directionless on Wednesday as traders were waiting for a monetary policy announcement from the Federal Reserve.

The New Zealand dollar attempted to rally today on the back of a better-than-expected current account reading, but by now the currency has lost its gains and trades below the opening level against most-traded rivals.

The Canadian dollar was generally firm today despite unfavorable domestic macroeconomic data. The likely reason for the loonie’s good performance was the sharp rally of prices for crude oil, Canada’s major source of export revenue.

The US dollar traded generally higher against other majors today, though fell versus commodity currencies, even the extremely vulnerable Australian dollar. The current trading session was very light on macroeconomic data, with housing starts and building permits being the only report released in the United States today, and traders wait for tomorrow’s monetary policy decision from the Federal Reserve to drive the market.