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Canadian Dollar Surges Against US Peer, Later falls on GDP Data

The Canadian dollar today surged against its US peer as the latter eas reeling from yesterday’s speech by the Fed Chair Jerome Powell, which unveiled a new inflation policy. The USD/CAD currency pair today fell for the fourth consecutive session to lows last seen in January as the greenback remained under intense selling pressure.

Euro Swings Between Gains and Losses on Powell’s Speech

The euro today alternated between gains and losses against the US dollar swinging wildly between gains and losses ahead of Jerome Powell speech. The EUR/USD currency pair spiked higher and then crashed lower during the Fed Chair’s speech creating uncertain trading conditions for most traders.

Canadian Dollar Rallies Against US Peer on Positive GDP Data

The Canadian dollar today posted slights gains against its US peer after the release of upbeat Canadian May GDP data in the American session. The USD/CAD currency pair was trading sideways with minimal losses for most of today’s session as global crude oil prices remained sidelined.

Euro Rallies to 2-Year Highs Against the Dollar on Weak US GDP

The euro today rallied to new 2-year highs against the US dollar driven by positive releases from across the eurozone combined with weak US GDP data. The EUR/USD currency pair today was boosted by upbeat German unemployment data as opposed to the rising jobless claims in the US, which dragged the greenback lower.

Pound Plunges to 4-Week Lows on Brexit Jitters, Rising COVID-19 Cases

The Sterling pound today fell to new 4-week lows against the US dollar given the empty UK docket and the prevailing risk-off market sentiment, which favoured the dollar. The greenback’s rally triggered the GBP/USD currency pair’s crash amid a confluence of negative factors that weighed on the pound, including fears of a no-deal Brexit.

Euro Falls on Weak Sentiment Amid Rising US Coronavirus Cases

The euro today fell against the US dollar driven by investor fears about the rising coronavirus cases across the US triggering a selloff of riskier assets such as the euro. The EUR/USD currency pair’s decline was further fueled by rising trade tensions between the EU and the US after Donald Trump threatened to impose sanctions on European exports.

Euro Falls Against the Dollar for the 4th Straight Session on Weak Data

The euro today fell against the US dollar for the fourth straight session after the American open where investor sentiment shifted decisively in favour of the dollar. The EUR/USD currency pair was also weighed down by weak data from Germany and the euro area as investors waited for European leaders to decide on the 750 billion euro fund.

Canadian Dollar Weak Despite Upbeat Q1 GDP as US Dollar Rallies

The Canadian dollar today remained weak against the US dollar despite the release of upbeat Canadian GDP data in the early American session. The USD/CAD currency pair kept trading near the two and half month lows as investors waited patiently for Trump’s speech.

Euro Falls After 4-Day Rally Amid Rising European Coronavirus Cases

The euro today fell against the US dollar as traders took their profits following  4-day rally marked by steady gains driven by positive investor sentiment. The EUR/USD currency pair headed lower as the greenback rallied higher amid rising coronavirus cases and deaths in Spain and Italy.

Canadian Dollar Falls on Weak Oil Prices, Spikes On In-Line GDP Data

The Canadian dollar today extended its losses against the US dollar for the third consecutive day as global crude oil prices fell to lows last seen in December 2018. The Commodity-linked loonie’s performance was boosted slightly by the Canadian GDP data, but the risk-off market sentiment created by the Chinese coronavirus headlines hindered its rally.

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