Fundamentals looked extremely grim to the Australian dollar today. An interest rate cut by Australia’s central bank, unfavorable domestic economic reports, persisting risk aversion on markets — all those factors should have driven the currency down. But instead, the Aussie jumped against almost all of its major rivals, except for the Japanese yen.
The Sterling pound today fell against the US dollar despite the release of upbeat UK inflation data in the early London session. The GBP/USD currency pair fell at a crucial support level, which has been cited by most analysts as the main reason for the pair’s decline.
The Canadian dollar is trading mixed against multiple currency rivals to kick off the trading week, despite bullish housing and jobs data that should have buoyed the loonie. The paucity of momentum will be more pronounced as the Canadian dollar may trade sideways ahead of the central bank’s policy announcement later this week. Will the currency reverse its downward trend?
The Australian dollar rose today after the outlook for the monetary policy of the Reserve Bank of Australia improved. The general market sentiment improved as well, also providing support to the Australian currency. The Aussie gained against all other most-traded currencies, though by now it has retreated from the day’s highs.
The Canadian dollar was among the weakest currencies today, dragged down by negative domestic housing data. Both housing starts and building permits fell unexpectedly. The falling prices for crude oil, Canada’s biggest export, were weighing on the currency as well.
The Australian dollar fell intraday amid risk aversion caused by Iran’s missile attack on US military bases. But by now, the Aussie has managed to recover as investors continued to hope that the conflict will not result in a full-blown war. Currently, the Australian currency is trading about flat against most of its peers, though managed to gain on the euro and the Japanese yen. Domestic macroeconomic data was mixed, but building permits, […]
The US dollar is relatively flat against most major currency rivals on Tuesday, despite some positive news for the world’s largest economy. The latest data helped legitimize the bulls’ views that the US economy is strong and resilient, thanks to higher industrial production, housing starts, and manufacturing activity. With only two weeks left in the year, investors are bracing for the final gross domestic product (GDP) reading for the third quarter, […]
The Sterling pound today crashed against the US dollar amid fears that Boris Johnson‘s government was pushing for a hard Brexit despite his parliamentary majority. The GBP/USD currency pair today fell to its pre-election lows as investors sold the pair following the release of a mixed UK jobs report ahead of Friday’s Brexit bill tabling.
The euro today traded sideways against the US dollar amid positive releases from across the euro area and risk-off market sentiment. The EUR/USD currency pair was not very active today as the data released from the eurozone was deemed inconsequential.
The Canadian dollar is failing to rebound to kick off the trading week as the currency was stung by a disappointing October jobs report on Friday. The loonie was further hampered by slumping housing numbers. Is the Canadian economy at a standstill or is there room for growth?
