Live Forex news from all over the world.
The euro today rallied higher against the US dollar as investors bid up the single currency lifting it away from yesterday’s lows triggered by the FOMC decision. The EUR/USD currency pair today rose steadily as the markets reacted to comments from the French calling for immediate fiscal stimulus measures.
The Sterling pound today rallied from its daily lows after the Bank of England maintained its current monetary policy stance by leaving interest rates unchanged. The GBP/USD currency pair had fallen to its daily lows following the release of the latest UK retail sales data early in the London session.
The New Zealand dollar fell today even after a report showed that the nation’s economy rose last quarter faster than was expected.
The Australian dollar tumbled today, being one of the worst-performing currencies during Thursday’s trading session. The Aussie dropped along with other commodity currencies as markets were digesting yesterday’s hawkish interest rate cut by the Federal Reserve, though the seemingly good domestic employment report had parts that also could have a negative impact on the currency.
The US dollar is surging midweek after the Federal Reserve cut interest rates at its September Federal Open Market Committee (FOMC). Additional easing is expected this year, leaving many to wonder if another round of quantitative easing (QE) is coming. Housing data further contributed to the dollar’s trading earlier in the session.
The Canadian dollar today fell against the US dollar following the release of disappointing CPI data for August in the early American session. The USD/CAD currency pair had dropped to new intra-day lows as the loonie rallied against the US dollar before the CPI release allowed the greenback to recover.
The British pound today fell against the US dollar following the release of the disappointing UK inflation data for August early in the UK session. The GBP/USD currency fell from 8-week highs reached yesterday as investors sold the pound ahead of the much-anticipated FOMC announcement.
The Australian dollar performed similarly to its New Zealand counterpart today, falling due to the mix of negative market sentiment and unfavorable domestic macroeconomic data.
The New Zealand dollar fell today as markets were in a risk-off mode ahead of Federal Reserve monetary policy meeting later today. Domestic macroeconomic data was not helpful to the currency.
As the Australian dollar versus the US dollar currency pair printed a pin-bar at the important 0.6858 major support level, it can be said that the bulls are turning their engines on for 0.7000.
