Live Forex news from all over the world.
The euro was mixed today following the release of lackluster macroeconomic data in the eurozone. The currency gained on the US dollar, which remained extremely soft, but was flat versus the Great Britain pound and fell against safe currencies like the Japanese yen and the Swiss franc.
The Chinese yuan is trading sideways to start the trading week as new worse-than-expected trade data is showing bad signs for the world’s second-largest economy. Last month’s trade woes are leaving investors with the belief that these numbers will only worsen in the coming months.
The Japanese yen rallied against its most-traded rivals today on bad macroeconomic releases in China and uncertainty about the situation in Great Britain. By now, the currency has trimmed its gains, losing them against some of the peers outright.
The Great Britain pound will likely experience significant volatility this week due to the upcoming Brexit vote. Because of the importance of the event, macroeconomic data should have a limited impact on the currency, being overshadowed by the vote.
The US dollar fell against most other currencies over the week as traders were becoming more and more convinced that the Federal Reserve may perform no interest rate hikes at all this year.
The US dollar was mixed following the release of an inflation report. Market analysts were still bearish on the currency, saying that there are not many factors that will support the greenback over the long term.
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.
