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Australian Dollar Remains Strong After Economic Forecast

The Australian dollar remained firm today, being one of the strongest currencies on the Forex market, second only to the New Zealand dollar. The Australian central bank released its economic projections on Friday. While they were pessimistic in the short term, over the longer term the projections were fairly positive.

Euro Among Weakest After Dire Macroeconomic Data

The euro was among the weakest currencies on the Forex market today after the release of a bunch of extremely poor macroeconomic reports and a very pessimistic economic forecast. While the currency has trimmed its losses by now, it is still trading lower against the vast majority of the most-traded currencies. The one exception was the Great Britain pound, which was even weaker than the euro.

Euro Falls to Three-Year Low vs. Franc on Coronavirus Fears, Economic Data

The euro was weak today, falling for the sixth consecutive day to the lowest level in three years against the Swiss franc. Risk aversion caused by an unexpected surge of infected people in China was weighing on the shared 19-nation currency, while eurozone macroeconomic data was not helping as well.

Great Britain Pound Attempts to Recover After Starting Session Weak

The Great Britain pound is currently attempting to recover after starting trading very weak. The sterling was soft due to the downgrade of economic forecasts and persisting concerns about probability of a “hard” Brexit.

Euro Drops on Weak Chinese Data Despite Strong Eurozone PMIs

The euro today extended yesterday’s decline in the Asian session against a much stronger US dollar before rallying slightly in the early European session. However, the rally was not sustained as the pressure of weak Chinese growth forecasts weighed on the markets risk sentiment; the EUR/USD pair slid to new lows in the American session.

US Dollar Ends Week Strongest amid Slowing Global Growth

The US dollar ended the week as the strongest currency on the Forex market even though fundamentals were not particularly supportive to the currency. It is just things in other parts of the world were even worse, with many countries forecasting slowing economic growth. Commodity currencies were leading the decline due to risk aversion caused by the economic slowdown.

RBA Cuts Economic Forecasts, Australian Dollar Down

The Australian dollar declined today after the Reserve Bank of Australia downgraded its growth and inflation forecasts and reiterated that chances for an interest rate hike and a cut are “balanced” now. The losses were limited, though, and the currency has currently moved away from day’s lows.

Euro Extends Decline Driven by Weak Growth Forecasts and Data

The euro today extended its decline against the US dollar as investors reacted to more disappointing releases from Germany, which is the EU’s largest economy. The divergence in economic growth trajectories between the US and the EU continues to weigh on investor sentiment towards the EUR/USD currency pair affecting its performance.

Aussie Rallies as RBA Statement Doesn’t Show Dovish Stance

The Australian dollar rallied today after the monetary policy statement of the Reserve Bank of Australia. While analysts had expected the central bank to demonstrate extremely dovish stance, the actual statement was considered to be either neutral or even slightly hawkish.

Yen Soft After BoJ Monetary Policy Meeting, Economic Forecast

The Japanese yen was soft today after the Bank of Japan performed a monetary policy meeting and revised its economic projections. The losses were not particularly big, though.

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