Coronavirus — News Archive


USD/INR Rises Despite India’s Economy Exiting a Technical Recession

The Indian rupee joined the selloff in the broader emerging market currencies, testing 74.00 against its US peer at the end of the trading week. Although India has exited a technical recession, the rupee has slumped in the first two months of the calendar year, with investors continuing to pour into conventional safe-haven assets, such as the greenback and the Swiss franc.

Euro Rises to 6-Week Highs on Upbeat Euro Area Data, Risk-On Sentiment

The euro soared against the dollar amid a series of upbeat macro releases from across the euro area combined with the positive investor sentiment. The EUR/USD currency pair’s rally was also boosted by positive comments from a senior European Central Bank policymaker and the dollar’s weakness.

Mexican Peso Snaps Six-Session Losing Streak amid Mixed Economic Data

The Mexican peso is struggling for direction against its US counterpart in the middle of the trading week amid mixed economic data. The peso recently snapped a multi-session losing streak after foreign exchange markets were concerned over slumping factory activity and energy supplies from the US after the blast of wintry weather.

Pound Rallies on Upbeat UK Jobless Claims Data, Later Heads Lower

The Sterling pound rallied to new 34-month highs against the dollar boosted by the British government’s 4-step reopening plan, which could boost the UK’s economic recovery. The GBP/USD currency pair was also boosted by the drop in the UK unemployment numbers recorded in January. The number of jobless claims fell, indicating that the economy was doing good.

Pound Rallies Despite Weak UK Retail Sales as COVID-19 Infection Rate Falls

The Sterling pound rallied to new highs despite the disappointing UK retail sales data released earlier today that almost derailed its rise, but the bulls prevailed. The GBP/USD currency pair rallied to new 34-month highs driven by the declining UK coronavirus infection rates and optimism about the country’s reopening.

US Dollar Index Slides As Jobless Claims Surge to 861k

The US dollar weakened on Thursday, joining the decline in the broader financial markets. The greenback is slumping after the US government reported a larger-than-expected reading for initial jobless claims. While the dollar has rebounded over the last week, the greenback has ostensibly hit the pause button on its meteoric ascent to kick off 2021.

Canadian Dollar Falls Against US Dollar on Weak Oil Prices, COVID-19 Fears

Today, the Canadian dollar fell against its US competitor driven by the falling crude oil prices and the rising US Treasury yields that boosted the greenback. The USD/CAD currency pair recouped most of yesterday’s losses as buyers stepped in defending the crucial 1.2600 level and pushing the pair higher.

Russian Ruble Slips on Higher Producer Prices, Capped by Energy Rally

The Russian ruble weakened against its US peer on Tuesday as higher producer prices and weaker industrial production weighed on the currency. The ruble has recorded modest gains against the greenback, driven by rising energy prices and broader optimism in the nation’s economic recovery.

Great Britain Pound Gains on Lockdown Exit Hopes

The Great Britain pound rallied today, gaining against all other most-traded currencies. The main driver for the sterling’s gains was hope that Britain will exit the lockdown sooner rather than later. Domestic macroeconomic data was also helpful to the currency.

USD/INR Struggles for Direction Amid Higher Inflation, Exports

The Indian rupee struggled for direction against its US peer to start the holiday-shortened trading week. The rupee has benefited from greater risk tolerance in the broader financial markets, with investors willing to return to emerging market currencies rather than pouring into traditional safe-haven assets. The latest inflation and trade data are driving the rupee on Monday.