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Canadian Dollar Pares Gains As Trade Deal Hopes Fade

The Canadian dollar started on Friday holding a three-month high as inflation data boosted odds of the central bank raising interest rates. Those gains were later pared after a White House official stated that the US is “very, very close” to moving ahead on a trade deal without Canada, suggesting that the U.S. and Mexico will embark upon a bilateral agreement instead of a trilateral one.

Norwegian Krone Flat Following Interest Rate Hike

The Norwegian krone was little changed today after the nation’s central bank raised its key policy rate yesterday.

Pound Drops on Failed Brexit Summit Amid Resurgent US Dollar

The British pound today dropped to new lows today following the failed Brexit summit in Salzburg where the EU rejected Britain’s Chequers Plan. The GBP/USD currency pair was further weighed down by the US dollar’s recovery, which drove the cable lower.

Swiss Franc Strongest on Forex Market During Friday’s Trading

The Swiss franc was extremely strong today, beating all of its most-traded rivals. That is surprising, considering that Switzerland’s economic calendar is empty today, and the currency had no factors to facilitate such good performance. Yesterday, the nation’s central bank made its policy announcement.

NZ Dollar Continues to Rise After Surging on Solid GDP

The New Zealand dollar jumped yesterday thanks to the faster-than-expected economic growth and continued to rise today as macroeconomic data released over the current trading session was also solid.

Japanese Yen Stays Weak, Economic Data Fails to Aid

The Japanese yen remained mostly soft today as the market sentiment stayed generally positive. The set of robust macroeconomic releases in Japan failed to support the currency.

NAFTA, Higher Energy Prices Push Up the Canadian Dollar

The Canadian dollar is trading higher on Thursday on higher energy prices and renewed North American Free Trade Agreement (NAFTA) negotiations between Canadian and US officials. With NAFTA talks at a standstill, the loonie has been finding support from rallying crude oil, allowing the currency to near a three-week high.

Pound Rallies on Upbeat UK Retail Sales and Weak US Dollar

The British pound today rallied higher against the US dollar following the release of the latest UK retail sales data in the early European session, which beat expectations. The GBP/USD currency pair hit new 2-month highs following today’s releases and the weaker US dollar, but remains susceptible to Brexit headlines.

Chinese Yuan Strengthens Despite Economic Warnings at WEF

The Chinese yuan is strengthening midweek against its American counterpart, despite warnings from officials about the national economy. The Chinese economy was a key subject of discussion at this year’s annual World Economic Forum (WEF) in Tianjin. This comes as the world’s two largest economies slapped tariffs on both of their exports on Tuesday.

Euro Fails to Hold On to Gains on Resurgent US Dollar Demand

The euro today rallied to new highs in the early European session even as German bond yields hit new tops and the US dollar retreated. However, the EUR/USD currency pair proceeded to give up all its gains as the greenback rebounded amid rising US bond yields and Irish border concerns.

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