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Euro Rallies on Upbeat Sentiment and COVID-19 Vaccine Hopes

The euro today rallied higher against the US dollar breaking out of the sideways trading range it was stuck in yesterday driven by the prevailing risk-on market sentiment. The EUR/USD currency pair rallied higher driven by the prevalent optimism among investors regarding the reopening of European countries and a CVOID-19 vaccine.

Aussie Climbs After Jump in Retail Sales, Struggles to Maintain Gains

The Australian dollar rallied today, though currently, it has trimmed its gains. While the rally happened after a surprisingly positive retail sales report came out, the currency did not rally immediately following the release, therefore it cannot be said with certainty that the report directly contributed to the strength of the Aussie. Whatever the case may be, the Australian currency will have a hard time maintaining gains as the market […]

Euro Breaks Below 1.10 on Mixed US Data and Risk-Off Sentiment

The euro today fell for the fourth consecutive session against the US dollar as the risk-off sentiment dominated the markets in the face of new coronavirus infections. The EUR/USD currency pair today broke below the critical 1.10 level despite European equities closing higher as investor risk aversion ebbed later in the session.

Aussie Mixed amid Improving Market Sentiment, Disappointing Australian Data

The Australian dollar was mixed today as market participants were digesting news about the coronavirus that has started in China. The Aussie was flat against a range of major currencies, jumped versus the Canadian dollar, and dropped against the Great Britain pound. Macroeconomic reports released in Australia today were poor.

Australian Dollar Logs Gains, Analysts Skeptical

The Australian dollar logged gains against the majority of other most-traded currencies today. Market analysts explained gains of riskier commodity currencies by the rise of European stocks due to the preliminary trade agreement between the United States and China. Experts were skeptical, though, about the longevity of the gains as the US-China trade conflict is not over yet, and there are other reasons to worry, like the threat of hard Brexit and impeachment of US President Donald […]

Euro Struggles to Stay Above 1.10, Spikes Higher on Weak US Data

The euro today struggled to break and stay above 1.10 when trading against the US dollar given yesterday’s decline and subsequent sideways trading range. The EUR/USD currency pair reacted positively to Germany’s IFO data but struggled to break decisively above the level until the weak US consumer data triggered a spike above the level.

Pound Rallies on UK Supreme Court Decision and Brexit Optimism

The British pound today rallied higher in the early London session after the UK Supreme Court ruled that the proroguing of the UK Parliament was unlawful. The decision provided a massive boost to the GBP/USD currency pair as investors became hopeful that a hard Brexit could be avoided if Parliamentary sessions resume.

Pound Rallies as Opposition Leaders Unite to Prevent Hard Brexit

The Sterling pound today rallied to new monthly highs after British opposition leaders agreed to support legislation aimed at preventing a no-deal Brexit. The Conservative Party criticised the move by the opposition MPs saying that the six leaders who signed the Church House declaration were planning to cancel the votes of 17.4 million people.

Aussie Rallies on Risk Sentiment, Rising Leading Indicators

The Australian dollar gained today as both domestic macroeconomic data and the general market sentiment were positive for the currency.

Australian Dollar Falls After PMI Releases

The Australian dollar fell against other most-traded counterparts today after the Purchasing Managers’ Indices showed that both manufacturing and service sectors continued to expand but with a slower pace.

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