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Japanese Yen Flat on EU Trade Deal, World Economic Forum Index

The Japanese yen is trading flat midweek after several mixed news reports came out pertaining to the world’s third-largest economy. While a new poll shows economists fear upcoming trade spats with the US will impact the Japanese economy, a new study discovered that Tokyo remains one of the most competitive places in the world today.

US Dollar Ends Turbulent Week Soft

The stock market crashed this week and the US dollar followed. While the greenback recovered somewhat by the weekend, the US currency ended the week among losers.

Chinese Yuan Still Lower on Reports US Will Not Label China ‘Currency Manipulator’

The Chinese yuan is still trading lower on Friday, despite reports that the US Treasury Department will not label the world’s second-largest economy a “currency manipulator.” The positive news was offset by an International Monetary Fund (IMF) forecast that lowers the nation’s economic growth over the next two years amid the US-China trade spat.

Euro Rallies on Huge Drop in Global Equity Markets, Later Declines

The euro today rallied higher against the US dollar from the early European session largely due to the massive pullback in global equity markets, which favored the single currency. The EUR/USD currency pair’s rally was further boosted by President Donald Trump‘s criticism of the Fed’s monetary policy position, which also contributed to the greenback’s weakness.

Euro Drops on High US Yields and Italy Budget Plans, Later Rebounds

The euro today declined significantly against the US dollar as the US 10-year Treasury yields hit a 7-year high and investors reacted to the prospect of lower global economic growth. The tensions between Italy and the European Union regarding the latter’s budget plans also dragged the pair lower.

Japanese Yen Rises on Steady Economic Recovery Signals

The Japanese yen is rising modestly against its counterparts on Friday after new data suggests the country’s economic recovery is holding steady. But the International Monetary Fund (IMF) issued a report that urged Tokyo to take a breather and not declare victory just yet.

US Dollar Looks Ahead to September Jobs Report After Strong Week of Data

The US dollar is continuing to post incredible gains against several currencies on Thursday after an impressive week of domestic economic data and global developments. The greenback will now look ahead to the September jobs report on Friday, which is expected to come in strong.

Mexican Peso Rallies on New USMCA Trade Deal After Strong Q3 Performance

The Mexican peso is rallying on Monday after the US, Canada, and Mexico announced a new trilateral trade agreement called the USMCA, abandoning the North American Free Trade Agreement (NAFTA) term. The peso’s strong performance to kick off the trading week comes after recording an admirable third-quarter performance among emerging-market currencies.

Canadian Dollar Weakens to One-Week Low on Trump-NAFTA Spat

The Canadian dollar weakened to its lowest level in a week as traders are doubtful that Ottawa can reach a new trade deal with the US. Trade negotiations hit a roadblock midweek after President Donald Trump weighed in on the talks and revealed he rejected a meeting with Prime Minister Justin Trudeau. The escalating trade tensions could lead to Canada sitting on the sidelines of a US-Mexico bilateral agreement.

Canadian Dollar Plunges on Fed Rate Hike, NAFTA Uncertainty

The Canadian dollar is plunging midweek after the Federal Reserve raised interest rates and on growing uncertainty regarding a new North American Free Trade Agreement (NAFTA). Without any upcoming Canadian economic events, traders will look ahead to key US numbers later this week.

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