Live Forex news from all over the world.
The Canadian dollar is weakening to end the trading week as grim forecasts and disappointing numbers are sending the currency lower. The loonie was most impacted by a dovish central bank this week as interest rates were left unchanged and the governor sounding the alarm on the broader economy. The country’s trade picture did not help matters.
The British pound today rallied higher against the US dollar in the European session on rumors that Brexit would be delayed. The GBP/USD had posted small gains after the release of mixed UK data where the GDP beat expectations, while manufacturing data missed estimates.
The US dollar gained against its most-traded rivals today following yesterday’s losses caused by dovish monetary policy minutes released by the Federal Reserve. Market analysts explained the rebound by comments from Fed Chairman Jerome Powell.
The Canadian dollar performed fairly well today thanks to positive domestic macroeconomic data and rebounding crude oil prices. The currency fared far worse yesterday, falling after the monetary policy meeting of the Canadian central bank.
The Chinese yuan is gaining against its US counterpart on Thursday on slowing inflation and recent measures by the federal government to stimulate the economy. But as Beijing employs more initiatives to spur growth, some analysts are sounding the alarm about the world’s second-largest economy pushing new “untested” policies that may or may not achieve growth officials want.
The euro today rallied higher against the US dollar in the early Asian session following yesterday’s dovish FOMC minutes and Fed comments. The single currency soon headed lower as the US dollar staged a rebound boosted by the risk averse market sentiment as the optimism around the US-China trade talks faded.
The Japanese yen is strengthening against its American counterpart midweek as the world’s third-largest economy is on track for its longest expansion since the Second World War. On the data front, there were plenty of positives to whet the appetite of Japanese investors. With the US-Japan trade negotiations on the horizon, markets may be rallying ahead of the economic storm clouds.
The euro today spiked higher in the early American session following dovish comments by Atlanta Fed President Raphael Bostic, which drove the US dollar lower. The EUR/USD currency was range bound for most of today’s session despite the release of several macro prints from across the eurozone.
The Chinese yuan is trading sideways on Tuesday as investors continue to weigh the economy. Beijing has attempted to ease traders’ minds by confirming reports that US-China trade talks are improving and that the government and central bank are employing stimulus measures to spur growth. But some experts believe that the world’s second-largest economy is worse than officials are saying.
The euro today dropped against the US dollar from the start of today’s session as the greenback rebounded on investors’ hopes about the outcome of the US-China trade talks. The rebound in US Treasury yields also boosted the greenback, which was under intense selling pressure since Friday last week following dovish Fed comments.
