Live Forex news from all over the world.
The euro today recovered from the 14-month lows hit yesterday following the news that trade negotiations between China and the USA are set to resume later this month. The EUR/USD currency pair was also boosted by the release of the latest Eurozone trade balance data in the early European session, which beat expectations.
The Australian dollar rallied today, boosted mainly by the improving market sentiment. Australia’s macroeconomic data released over the trading session was somewhat mixed, but mostly good.
The Indonesian rupiah rose a bit against the US dollar today after Indonesia’s central bank raised interest rates to stop the drop of the currency.
The Turkish lira continued to recover, rising for the third straight trading session against the US dollar and the euro today.
The Chinese yuan is hovering around its lowest level since May 2017 on Wednesday as the equities market plunged, US-China trade tensions escalated, and investors continued to sell off their yuan holdings this week. Is this a sign that the worst may be behind the currency? These are factors that may already be priced in the yuan, capping its rapid descent.
The Australian dollar dipped intraday during the Wednesday’s trading session but has bounced against most of its rivals by now and is trading near the opening level. Today’s macroeconomic data released in Australia was mixed.
The euro today traded at 13-month lows as it was driven lower by market volatility in emerging markets led by Turkey resulting in a strong US dollar. The EUR/USD currency pair traded lower due to the selloff in emerging market currencies, which increased the demand for the greenback at the expense of its peers including the euro.
The British pound today hit new record lows against the US dollar in the Asian session due to the risk-off sentiment in the markets, which favored the greenback. The GBP/USD currency pair retraced some of its losses after the release of the latest UK CPI data, which was in line with expectations.
In general, safer currencies found little demand today as markets were recovering from the shock caused by the Turkish financial crisis. But the US dollar avoided losses for the most part, rising to the highest level in more than a year against the basket of major currencies.
The Japanese yen was soft today as markets calmed after fears of the Turkish financial crisis eased. With that said, the currency trimmed losses against some of its rivals and erased them against the euro completely.
