Live Forex news from all over the world.
The Canadian dollar weakened to a four-week low on Tuesday ahead of the Bank of Canada (BOC)’s decision on interest rates. The market is anticipating a prolonged pause to rate hikes, which suggests that officials are not confident that the economy can withstand a move to normalize monetary policy. Investors also traded the loonie on rallying energy prices, as well as data that showed nearly half of Canadians are on the brink of insolvency.
The Sterling pound today traded at 2-month lows against the US dollar as European markets reopened following the long Easter weekend. The GBP/USD currency pair today fell to new lows as the greenback rallied higher in the American session amid a lack of releases from the UK docket.
The Chinese yuan is sliding against some of its most traded currency pairs on Monday. As the yuan weakens, there is a positive outlook for the Chinese economy on the market, particularly as Beijing confirming that it will continue to support its economy.
The Norwegian krone gained today as the rally of crude oil boosted currencies of oil exporting nations.
The Canadian dollar gained against other most-traded currencies today thanks to a big rally of crude oil. But gains were limited as market participants were waiting for the monetary policy decision of Canada’s central bank later this week.
The Swedish krona fell against the US dollar a bit today ahead of this week’s monetary policy meeting of Sweden’s central bank.
The Canadian dollar versus the Japanese yen is testing the important ex-solid support area of 83.81.
The Australian dollar versus the New Zealand dollar etched the new high of 2019, and this makes possible even more positive expectations.
The Canadian dollar showed mixed performance today despite favorable retail sales data. The explanation for this could be strength of its rivals as well as the decline of crude oil prices.
The Australian dollar was mixed today despite extremely positive employment data. Other macroeconomic reports released in Australia during the Thursday’s trading session were less stellar.
