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Brazilian Real Continues Testing Record Lows, Fueling Rate Cut Expectations

The Brazilian real continues to test record lows against a myriad of G10 currencies, including the US dollar. With disappointing economic data, a decline in financial markets, and a political crisis unfolding, the real has become the worst-performing emerging market currency this year. Is more pain ahead for Brazil amid the coronavirus pandemic?

Australian Business Confidence at Record Low, Aussie Struggles to Keep Gains

The Australian dollar was rising at the start of Tuesday’s session but has reversed movement and is now trading below the opening level against most major currencies, though currently, it has managed to rise against the US dollar a bit. The Aussie performed better against its commodity-linked counterparts.

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.

Australian Dollar Attempts to Rebound After Flash Crash

The Australian dollar rose today, attempting to rebound after the recent flash crash. But today’s gains were nowhere near enough to erase losses the currency has logged since the end of the last week. The coronavirus continues to spread across the globe, hurting demand for riskier currencies linked to commodities. Negative domestic macroeconomic data was not helping the matter either.

Chinese Yuan Pauses After Huge Weekly Acceleration on Bearish Data

The Chinese yuan is hitting the pause button on its recent acceleration against several major currency rivals midweek as many economic reports portray a grim picture of the world’s second-largest economy. All the data came in worse than what the market had forecast, and with the coronavirus still lingering, experts warn there might be plenty more bearish news in the coming months.

New Zealand Dollar Mixed amid Negative Sentiment, Conflicting Economic Reports

The New Zealand dollar was mixed today, managing to gain on some major currencies, even as the market sentiment remained unfavorable to riskier currencies linked to commodities. Domestic macroeconomic data was not helpful, failing to provide a clear picture of New Zealand’s economy. One of the reports released over Thursday’s session beat expectations while the other one was not good.

Australian Dollar Extends Rise After Business Confidence Improves

The Australian dollar continued to rise today after the business confidence improved. Other commodity currencies were trying to recover as well even though investors remained cautious as the deadly coronavirus continued to spread across China.

Australian Dollar Strongest, Rising for Fourth Session

The Australian dollar was the strongest currency on the Forex market today, rallying for the fourth consecutive day thanks to the improving investors’ sentiment. The currency managed to rally even though domestic macroeconomic data failed to meet expectations for the most part.

Euro Falls Against Strong Dollar as Coronavirus Fears Persist

The euro today fell against the much stronger US dollar, which was boosted by the upbeat data released on Monday. The EUR/USD currency pair kept falling despite the release of upbeat data from across the euro area as the coronavirus human and economic toll mounted.

Euro Trades at 3-Month Lows Against US Dollar Ahead of FOMC

The euro today fell against the US dollar reversing yesterday’s brief recovery despite mixed releases from the euro area, which were utterly ignored. The EUR/USD currency pair’s decline saw it erase breach the critical 1.10 level as the bearish pressure mounted driven primarily by the stronger greenback.

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