The Australian dollar climbed after the release of Australia’s employment data that showed an unexpected drop of the unemployment rate. The currency erased yesterday’s losses against most-traded rivals and managed to erase losses for the whole week versus the US dollar.
The British pound today recovered from its daily lows and rallied higher in the late London session as details emerged of a new Brexit proposal by the British government. The European Union’s positive response to the proposals boosted investor confidence in the pound, causing it to rally higher despite the weak UK PMI released earlier today.
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 euro fell a bit versus some rivals but was about flat versus most of them on Tuesday. That was a surprisingly good performance considering that eurozone macroeconomic data released during Tuesday’s session was universally bad. The monetary policy outlook was also negative for the currency.
The Canadian dollar gained today, joining other commodity currencies in a rally. While the positive general sentiment on the Forex market undoubtedly helped the currency, it also had its own reasons to rise.
The euro today rallied from its daily lows after the release of the disappointing US non-farm payrolls report in the early American session. The EUR/USD currency pair had been under intense selling pressure following the release of weak German industrial production data earlier today.
The euro today crashed from its daily highs in the American session following the release of the upbeat US ISM non-manufacturing PMI among other positive US releases. The EUR/USD currency pair had rallied to its daily highs in the early European session driven by the news that US-China trade talks are set to resume next month.
The Sterling pound today rallied against the US dollar amid hope that British leaders would pass legislation to prevent a no-deal Brexit. The GBP/USD currency pair’s rally was also boosted by other political developments like Jo Johnson‘s resignation, which lead to an early election.
The Australian dollar rallied today, though the currency has trimmed its gains by now. The Aussie got a boost from the employment report that came out much better than was expected.
The Reserve Bank of New Zealand surprised markets today, cutting interest rates more than was expected. As a result, the New Zealand dollar sank against almost all of its most-traded rivals. While the currency has trimmed losses by now, it is still trading far below the opening level. Surprisingly, the kiwi managed to gain on the Great Britain pound, which remains under pressure from fears of a hard Brexit.
