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Euro Spikes Higher on ECB Rate Decision, Crashes on Trump Tweet

The euro today fell against the US dollar in the early European session despite the release of in-line German inflation data. The EUR/USD currency pair spiked to its daily highs after the European Central Bank announced its rate decision but quickly fell on hopes of a US-China trade deal.

Chinese Yuan Soars As Trump Tweets ‘Very Close to a Big Deal’

The Chinese yuan is spiking on Thursday after President Donald Trump tweeted that the US and China are “very close to a big deal.” Mirroring the financial markets, the yuan pared its earlier losses and is rallying on the news. The yuan could end the week higher following this week’s upbeat economic data. But could the yuan exit the 7 territory against the US dollar to close out the year?

Euro Drops on Trade War Fears, Rallies on Mixed US Inflation

The euro today fell against the US dollar in a risk-off market environment as investor fears about an escalation in the US-China trade war dominated the markets. The EUR/USD currency pair recovered in the American session due to the greenback’s weakness despite the release of in-line US inflation data.

US Dollar Slides on Weak US Jobs Report, Services PMI

The US dollar is falling against multiple currencies midweek amid disappointing private payroll numbers and a weak services sector. The bullish US-China developments appeared to have stopped the bleeding as investors have renewed their optimism (again) over an upcoming deal. But the buck may need to limit its losses if it wishes to keep its year-to-date gain.

Euro Falls on Mixed Trade Headlines, Rallies on Weak US Jobs Data

The euro today fell amid conflicting trade headlines as investors continued to wonder whether the US and China would seal a phase one deal any time soon. However, the EUR/USD currency pair rallied higher in the early American session after the latest US jobs data released by the ADP missed expectations by a wide margin.

Japanese Yen Flat amid Confusing News Headlines About US-China Trade Deal

The Japanese yen was flat against most of its major rivals amid conflicting reports about the probability of reaching a phase-one trade deal between the United States and China before the new US tariffs, scheduled to take effect on December 15, will kick in. Domestic macroeconomic data was relatively good but slightly worse than expected.

Chinese Yuan Weakens As Trump Remarks Offset Manufacturing PMI

The Chinese yuan is tumbling on Tuesday after President Donald Trump told reporters that a trade agreement with China can wait. The remarks offset positive manufacturing data that showed the industry expanded for the first time in seven months. The yuan remains firmly entrenched in the 7 territory against the US dollar after appreciating on hopes of a trade agreement.

Euro Sidelined on Trump-Macron Spat Amid US-China Trade Worries

The euro today appeared to cool off against the US dollar following yesterday’s massive rally that saw the EUR/USD currency pair breach the 1.1080 level as the greenback fell. The currency pair today traded sideways alternating between gains and losses amid a lack of significant releases from the European dockets.

Pound Hits 7-Week High on Opinion Polls and UK Construction PMI

The pound today rallied to new multi-week highs against the US dollar buoyed by positive sentiment as the latest opinion polls revealed that Boris Johnson is still leading Labour’s Jeremy Corbyn. The GBP/USD’s rally was further fueled by the positive UK construction PMI released by Markit Economics showing that the country’s construction industry was improving.

Brazilian Real Falls As Trump Threatens to Restore Tariffs

The Brazilian real is falling against multiple currency rivals as President Donald Trump threatened to restore tariffs on Brazil and Argentina goods, accusing the two countries of devaluing their currencies. But is this really about the two markets becoming go-to sources for China’s soybean needs? The Brazilian leadership attempted to quash concerns, noting that it plans to speak with the US administration.

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