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Turkey Attempts to Defend Lira, Currency Remains Soft

The Turkish lira remains soft despite attempts of policy makers to prop up the currency.

Aussie Tanks, Driven Down by Prospects for Interest Rate Cut

The Australian dollar sank today after the central bank signaled that it may cut interest rates at its next monetary policy meeting. While market participants were already expecting a rate cut in the near future, the confirmation of the dovish outlook still hurt the currency.

Surprising Growth of Japanese GDP Doesn’t Help Yen

The performance of the Japanese yen was not impressive today despite a surprisingly good report about Japan’s economic growth. The currency fell versus the Swiss franc and was about flat against most other major rivals.

Australian Dollar Fails to Keep Rally Caused by Election Surprise

The Australian dollar opened sharply higher on Monday after the unexpected outcome of the election held over the weekend. But analysts were unconvinced by the rally, and indeed the Aussie has trimmed its gains by now, losing them outright against many rivals.

Euro Rises Despite Trade Jitters As the Dollar Falls on Weak US Data

The euro today rallied higher against the US dollar in the European and American sessions reversing five consecutive losing sessions to trade slightly higher. The EUR/USD currency pair today reversed Asian session losses and rallied higher boosted by positive German data and the greenback’s weakness after hitting a key resistance zone.

AUD/CAD at the Major Support of 0.9222

The Australian dollar versus the Canadian dollar currency pair declined sharply and the first signs of slowing down occurred only around the 0.9222 support level.

Chinese Yuan Slumps As FDI Slips, Housing Prices Lower Than Expected

The Chinese yuan is slumping against many major currencies at the end of the trading week. The yuan, which has plummeted in the wake of the escalation in the US-China trade war, rebounded on bullish economic data midweek but has since retreated on disappointing numbers.

Pound Crashes to 4-Month Lows As Brexit Talks End Without a Deal

The Sterling pound today fell to new 4-moth lows against the US dollar as cross-party Brexit talks collapsed ahead of Theresa May’s impending resignation. The Labour Party officially called off the talks saying that there was no need to negotiate with a government that was about to collapse.

NZ Dollar Fails to Hold Ground in Face of Risk Aversion

While the New Zealand dollar was attempting to rally earlier today despite risk aversion prevailing on the market, currently the kiwi has retreated, trading below the opening level against many of its most-traded rivals. Domestic macroeconomic data did nothing to help the currency of New Zealand.

AUD/NZD Looks Bearish

The Australian dollar vs. New Zealand dollar looks to be poised for a bearish move, even if the descending trend told a different story.

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