The euro today fell against the US dollar driven by a lack of macro releases from across the euro area and the resurgent greenback. The EUR/USD currency pair later rallied from its daily lows despite the release of mostly in-line US inflation data in the American session.
The euro today fell against the US dollar in a risk-off market environment as investor fears about an escalation in the US-China trade war dominated the markets. The EUR/USD currency pair recovered in the American session due to the greenback’s weakness despite the release of in-line US inflation data.
The Canadian dollar today fell against its US peer following the release of disappointing jobs data, which missed expectations by a considerable margin. The loonie erased all of the gains made against the greenback earlier this week amid the highly anticipated Saudi Aramco IPO.
The euro today traded sideways against the US dollar in a low-volatility market environment as traders waited for Jerome Powell‘s statement and testimony later in the day. The EUR/USD currency pair had a muted reaction to the release of inflation data from both Germany and the USA as the technical conditions surrounding the pair remained neutral.
The Sterling pound today traded sideways against the US dollar as UK political parties started campaigning in readiness for the UK December 12 elections. The GBP/USD currency pair had a muted reaction to the upbeat Markit/CIPS UK manufacturing PMI data but fell on the robust US non-farm payrolls report before rallying higher after later US releases.
The euro today rallied higher against the US dollar, which was under intense selling pressure as investors cautiously waited for US-China trade talks to resume. The EUR/USD currency pair rallied higher despite weak macro releases from Germany in the early European session mainly driven by positive investor risk sentiment.
The Sterling pound today fell to new 5-week lows as talks between Britain and the EU appeared to have hit a wall given today’s events. The GBP/USD currency pair today fell after reports that a phone call between Boris Johnson and the German Chancellor had made a Brexit deal almost impossible.
The Canadian dollar today rallied against the US dollar into the American session primarily driven by the rising oil prices and the greenback’s weakness. The USD/CAD currency pair fell to its daily lows following the release of the mixed US non-farm payrolls report in the early American session before rallying higher.
The Canadian dollar today broke down against the US dollar as global crude oil prices fell following the absence of more output cuts by the OPEC and its allies at today’s meeting. The USD/CAD rallied higher during the American session as oil prices fell causing the commodity-linked loonie to weaken against the greenback.
The euro today spiked higher after the European Central Bank cut its deposit rate by 0.10% as expected before quickly reversing direction and crashing to new weekly lows. The EUR/USD currency pair had attempted to rally higher after the release of Germany’s consumer price index data earlier today given that the print met expectations.
