The Canadian dollar today fell against its US counterpart as investors ignored upbeat crude oil prices and bought the safe-haven greenback as geopolitical risks mounted. The USD/CAD currency pair today rallied higher following the release of disappointing Canadian retail sales data in the American session before giving up most of its gains.
The United States dollar versus the Japanese yen currency pair extended its correction beyond the resistance line of the daily bearish channel.
The New Zealand dollar fell today even after a report showed that the nation’s economy rose last quarter faster than was expected.
The Australian dollar tumbled today, being one of the worst-performing currencies during Thursday’s trading session. The Aussie dropped along with other commodity currencies as markets were digesting yesterday’s hawkish interest rate cut by the Federal Reserve, though the seemingly good domestic employment report had parts that also could have a negative impact on the currency.
The US dollar is surging midweek after the Federal Reserve cut interest rates at its September Federal Open Market Committee (FOMC). Additional easing is expected this year, leaving many to wonder if another round of quantitative easing (QE) is coming. Housing data further contributed to the dollar’s trading earlier in the session.
The Canadian dollar today fell against the US dollar following the release of disappointing CPI data for August in the early American session. The USD/CAD currency pair had dropped to new intra-day lows as the loonie rallied against the US dollar before the CPI release allowed the greenback to recover.
The Australian dollar performed similarly to its New Zealand counterpart today, falling due to the mix of negative market sentiment and unfavorable domestic macroeconomic data.
The New Zealand dollar fell today as markets were in a risk-off mode ahead of Federal Reserve monetary policy meeting later today. Domestic macroeconomic data was not helpful to the currency.
As the Australian dollar versus the US dollar currency pair printed a pin-bar at the important 0.6858 major support level, it can be said that the bulls are turning their engines on for 0.7000.
The US dollar is mixed against several major currency rivals on Tuesday after the latest industrial and manufacturing output numbers were published. But global financial markets are bracing for the Federal Reserve’s decision on interest rates, which the market is now split on. In the backdrop is low-level US-China trade discussions restarting later this week.
