The Australian dollar was among the strongest currencies today. That puzzled market analysts as Australia’s macroeconomic reports were not particularly favorable and the market sentiment was negative to riskier commodity-related currencies due to geopolitical tensions and prospects for additional monetary tightening from the Federal Reserve.
The Canadian dollar behaved similarly to its US counterpart, climbing after the release of a domestic employment report but pulling back later. That was surprising considering that Canada’s macroeconomic reports released today were universally good.
The Canadian dollar declined against its major peers today, dragged down by a range of factors. Among them were the relatively strong US dollar, falling prices for crude oil, and poor macroeconomic data.
The Australian dollar gained against all of its most-traded rivals today on the back of solid employment growth, which was faster than expected, and the improving market sentiment.
The Sterling pound today declined against the US dollar following the release of the latest UK jobs report in the early European session. The GBP/USD currency pair’s decline was largely due to risk aversion among investors reacting to the latest headlines in the Sino-US trade war.
The Canadian dollar today fell significantly against its US counterpart following the release of the latest Canadian employment data, which missed expectations. The USD/CAD currency pair was also boosted by the resurgent greenback, which was fueled by the upbeat US nonfarm payrolls report released at the same time.
The euro today rallied higher against the US dollar following the release of disappointing employment data from the USA in the early American session. The EUR/USD currency pair was trading sideways in the mid-European session following a brief decline during the Asian session largely driven by market sentiment.
The euro today fell against the US dollar following mixed releases from Germany led by the weak import price index data among others. The EUR/USD currency pair gave up yesterday’s gains that were triggered by positive investor sentiment towards the single currency based on hopes for a Brexit deal.
The Canadian dollar was among the weakest currencies today despite solid macroeconomic data and gains of crude oil, Canada’s major export commodity. The possible reason for that were resurfacing concerns about the Turkish situation.
The Australian dollar rallied today, boosted mainly by the improving market sentiment. Australia’s macroeconomic data released over the trading session was somewhat mixed, but mostly good.
