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Euro Rallies on Upbeat Sentiment, Positive Data, and Yellen Testimony

The euro today rallied higher against the dollar fueled by the risk-on investor sentiment and positive macro releases from various European dockets. Janet Yellen’s testimony further boosted the EUR/USD currency pair’s rally as the incoming US Treasury Secretary favours additional spending.

Euro Falls to 4-Week Lows Against Dollar, Later Recovers to Post Gains

The euro today fell to new 4-week lows against the dollar as investor sentiment towards the single currency remained bearish extending yesterday’s losses. The EUR/USD currency pair’s decline was also fueled by the dovish ECB Governing Council minutes, which raised concerns about the euro’s exchange rate.

Euro Slips Against Dollar on Dovish ECB Speeches, Risk-Off Sentiment

The euro today fell against the dollar despite the release of multiple upbeat macro prints from across the euro area as investors risk appetite remained muted. The EUR/USD currency pair was also weighed down by dovish comments from European Central Bank policymakers regarding the euro’s strength.

Euro Falls Against Resurgent Dollar on Weak Inflation and Retail Sales Data

Today, the euro fell against the resurgent dollar amid rising US Treasury yields that boosted the world’s reserve currency despite the turbulent American politics. The EUR/USD currency pair’s decline was also fueled by the disappointing inflation data coming out of the eurozone, causing investors to sell the euro.

Euro Rallies on Upbeat Sentiment, Later Falls on Weak German Inflation

The euro today initially dipped against the dollar as Democrats took the lead in the Georgia Senate runoff elections, which could lead to a shift in US corporate laws. The EUR/USD currency pair later rallied as investor sentiment improved despite IHS Markit releasing several disappointing PMI prints from across the euro area.

Euro Rallies As Investors Turn Bullish on US Data, Georgia Election

The euro today rallied higher against the dollar during the American session boosted by positive US releases, a weak dollar and bullish investor sentiment. The EUR/USD currency pair had traded in a tight range earlier in the day despite positive euro area releases including the upbeat German retail data.

Swiss Franc Weakens vs. Commodity Currencies on Market Sentiment

The market sentiment was still favoring riskier currencies over safer ones, and that reflected in the performance of the Swiss franc. The Swissie declined against commodity currencies while holding steady versus other rivals. The worse-than-expected domestic inflation data did not seem to have a material impact on the franc.

Euro Rallies Against Weak Dollar for the Fourth Consecutive Day

The euro today rallied to new highs against the US dollar for the fourth consecutive session boosted by investor optimism about the global economic recovery. The EUR/USD currency pair also benefitted from the greenback’s overall weakness as the global reserve currency lost its safe-haven appeal due to the risk-on market mood.

Swiss Franc Strong, Defying Fundamentals

The Swiss franc was the strongest currency on the Forex market today, rising against all other most-traded rivals. That was a very puzzling performance, considering that news neither from Switzerland nor from abroad was positive for the currency.

Euro Surges to Multi-Year Highs Against Dollar as US PMI Misses

The euro today rallied to multi-year highs against the dollar boosted by the positive investor risk sentiment amid heightened optimism about the global economic recovery. The EUR/USD currency pair’s rallied to highs last seen in Apil 2018 boosted by the dollar’s weakness and mixed eurozone macro releases.

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