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Chinese Yuan Weakens to 10-Year Low As Economy Holds Steady

The Chinese yuan weakened to a 10-year low against its US counterpart as the national economy held steady in October. It is evident that President Donald Trump’s trade war against Beijing continues to have a dire toll on the world’s second-largest economy. With the trade spat expected to linger into 2019, analysts are warning that the worst is far from over for China.

US Dollar Ends Week of FOMC Decision on Strong Footing

The US dollar performed decently over the past trading week but was outperformed by the Australian and New Zealand currencies, which were the strongest on the Forex market during the week.

Euro Soft on Continuing Clash Over Italy’s Budget, Fed’s Hawkish Stance

The euro traded lower against most of its major rivals today, though managed to gain on the Great Britain pound, which itself was very soft. The shared 19-nation currency was heading to end week either flat, losing earlier gains, or lower versus its most-traded peers.

US Dollar Strengthens As Inflation Pressures Remain in Check

The US dollar is strengthening at the end of the trading week, buoyed by new economic data that shows inflation pressures remain in check. The greenback further accelerated on a hawkish central bank that is set to raise interest rates next month. The currency’s gains were capped by retreating Treasury yields.

USD/CAD Extends Rally on US Court Decision and Weak Oil Prices

The USD/CAD currency pair today extended yesterday’s gains as the Canadian dollar dropped against the greenback amid the ongoing as the global crude oil selloff. The pair’s rally was further accelerated by news reports that a US Federal Court had stopped the construction of the Keystone XL pipeline that connects Canadian oilfields to Texas oil pipelines.

British Pound Drops on Brexit Uncertainty Amid Latest UK GDP Data

The British pound today declined against the US dollar as investors remained cautious towards the cable given the looming uncertainty over Brexit negotiations. The GBP/USD currency pair’s performance was also affected by the strong greenback as the US Federal Reserve reiterated its resolve to hike rates in December.

Aussie Falls Despite Improved RBA Economic Outlook, China’s PPI Weighs

The Australian dollar was soft today, falling against the euro and the Japanese yen for the first time after six sessions of gains in a row. Market analysts pointed at China’s slowing producer inflation as the most likely culprit in the currency’s decline.

NZ Dollar Suffers from Slowing Producer Inflation in China

The New Zealand dollar fell against some of its most traded rivals, including the US dollar and the Japanese yen, today. The most likely reason for the losses was the slowing producer inflation in China, New Zealand’s major trading partner.

Swiss Franc Weakens on Trade War Concerns, Bearish Monetary Policy Forecasts

The Swiss franc is weakening against the greenback on Thursday after the central bank warned that the trade war could rock the currency. A central bank official also encouraged investors to hold tight because a tighter monetary policy is still far away from being realized. That said, officials believe the franc remains highly valued in the global financial markets.

EUR/USD Pair Drops From 2-Week Highs Ahead of FOMC Rate Decision

The EUR/USD currency pair today dropped from yesterday’s 2-week highs as investors looked past the results of the US midterm elections triggering a slight recovery by the greenback. The pair’s performance was largely driven by positive investor sentiment towards the greenback, which kept the pair trading in a subdued range.

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