Forex News

The US dollar was stable today against its most-traded rivals but gained on the European currencies, including the euro and the Great Britain pound. The greenback got support from rumors that the next leader of the Federal Reserve may be a hawk.

The Canadian dollar fell against its US counterpart on Tuesday as investors grew more uncertain about the future of the North American Free Trade Agreement. Lower expectations of an interest rate hike in Canada and positive economic data in the United States widened the gap between the loonie and the greenback today.

The euro today declined against the extremely strong US dollar after the release of positive US data relating to import prices. This was the fourth consecutive bearish session, which was accelerated by disappointing German ZEW survey data, released early in the European session.

The British pound today weakened against the US dollar despite the hawkish comments made by the Bank of England Governor in his testimony before lawmakers. The pound declined against the US dollar despite the release of positive UK CPI data for September early in the European session.

The New Zealand dollar traded a little bit higher against some of its rivals, like the US dollar, while against others, like the euro, it demonstrated more significant gains. One of the possible reasons for the rally was higher-than-expected inflation.

The Australian dollar was little changed against some of its most-traded rivals, like the US dollar and the Japanese yen, while gained against others, like the euro and the Swiss franc, during the current trading session.

The Canadian dollar fell a bit today even as prices for crude oil, Canada’s major export, rallied during the Monday’s session. Market analysts argued that the reason for that is diminishing prospect for an interest rate hike from the Bank of Canada.

The euro was mostly flat today as markets turned their attention away from politics towards the next week’s European Central Bank policy meeting and economic data that may influence the ECB decision.

The Great Britain pound was stable today amid Brexit uncertainties and anticipation of important economic releases this week. (Update: currently the sterling seems to start a gradual move down.)

The US dollar ended the week as the weakest currency among the major ones. The euro was mixed, while the Great Britain pound was the strongest.