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USD/CAD Pair Falls to 6-Week Lows as Loonie Rallies Against Weak Dollar

The Canadian dollar today rallied against the US dollar in a move that was primarily attributed to the greenback’s overall weakness against most of its peers. The USD/CAD currency pair fell to new 6-week lows as the loonie rallied against a much weaker dollar driven by the improved investor risk appetite.

NZ Dollar Drops, Touching 4-Year Low vs. US Dollar

The New Zealand dollar dropped today, touching the lowest level in four years versus its US counterpart. The currency was dragged down by poor domestic macroeconomic data and the general risk-off sentiment on the Forex market. A positive report about China’s manufacturing sector limited the downside momentum, though.

US Dollar Surges As Federal Reserve Cuts Interest Rates

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.

Canadian Dollar Falls Against US Peer on Mixed Inflation Data

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.

Canadian Dollar Hits Six-Week High on Crude Oil Rally, Strong Housing Data

The Canadian dollar strengthened to a six-week high on Tuesday, driven by a rally in crude oil prices and strong housing data. The Canadian economy, which has been anemic for much of 2019, has enjoyed a string of positive economic reports lately, impressing investors at a time of global volatility. This is good news for the incumbent government with an election about a month away.

Australian Dollar Strong Despite Big Drop of Building Approvals

The Australian dollar was strong today despite underwhelming domestic macroeconomic data.

NZ Dollar Mixed amid Uncertain Fundamentals

The New Zealand dollar was mixed today amid the uncertain market sentiment and negative domestic macroeconomic data.

US Dollar Mixed on Data, Lingering Trade Conflict

The US dollar is mixed against a myriad of currencies to finish the trading week. The greenback is contending with various economic numbers, geopolitical developments, and market events to carve out a concrete direction, which might be the case for the next several trading sessions. The next month might be pivotal for the buck’s performance for the remainder of 2019.

Euro Struggles to Rally Despite Upbeat Eurozone Inflation Data

The euro today attempted to rally against the US dollar from the Asian session but encountered massive resistance despite the release of upbeat euro area inflation data. The EUR/USD currency pair could not muster enough momentum to mount a sustained rally as each attempt was quickly countered by a retracement as the bears stepped in.

Aussie Gains, Propelled by Positive Domestic Data

The Australian dollar was broadly strong today, rising against all of its most-traded rivals. Australia’s macroeconomic data released over the trading session was good for the large part, and that could explain the good performance of the Australian currency.

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