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Japanese Yen Continues to Profit from Coronavirus Fear

The Japanese yen gained against most of the other currencies today as coronavirus fears continued to drive investors to safer assets. The yen, being one of such assets, profited immensely from the demand for safety. Japan’s macroeconomic data released today was good but had a limited impact on the currency.

US Dollar Rally Sparked by Safe-Haven Demand Amid Coronavirus Crisis

The US dollar is surging to kick off the trading week, buoyed by renewed safe-haven demand as the coronavirus continues to extend outside China. While the situation has relatively stabilized in the world’s second-largest economy, investors are in a panicky state because of how the outbreak is beginning to intensify all over the world. Despite a slight retreat on Friday, the greenback is looking to test multi-year highs in the coming sessions.

US Dollar Flat on Mixed Data As Market Expects Sideways Trade in Second Half

The US dollar ended the trading week flat against a basket of currencies as an influx of economic data came out. While spending and inflation matched market expectations, consumer sentiment was a lot lower than the median estimates. With the first half of 2019 in the history books, the market now anticipates the greenback to either weaken or trade sideways in the second half.

NZ Dollar Rebounds Despite Worsening Business Confidence

The New Zealand dollar dropped initially today as the domestic business confidence worsened. But the currency rebounded later as the general market sentiment was relatively positive and supportive to riskier currencies.

US Dollar Rebounds on Fed Minutes, G20 Summit Optimism

The US dollar rebounded at the end of the trading week after new Federal Reserve minutes show the central bank favors raising interest rates in December and beyond. With investors paying close attention to this weekend’s G20 summit, all eyes are on President Donald Trump’s critical meeting with Chinese President Xi Jinping. Wall Street is trying to be optimistic, but is a new trade agreement hopeless?

Euro Declines on Weak Eurozone CPI Data Ahead of G20 Summit

The euro today headed lower against the US dollar from the early European session following the release of the mixed German retail sales data. The EUR/USD currency pair extended its losses in the mid-European session after the release of disappointing eurozone inflation data.

Canadian Dollar Falls Against US Peer as Oil Prices Fall

The Canadian dollar retreated against its US counterpart on Monday, following a decline in the prices of crude oil as investors became concerned about growing global supply. The loonie moved further south after a meeting between finance ministers of member countries in the Group of Twenty ended with a decision to drop a pledge to support free trade.

US Dollar Trades near Lowest Level in More Than a Month

An index that tracks the strength of the US dollar traded on Friday near its lowest level since February 6, even as the greenback recovered some of its losses against the euro and the Canadian dollar today. Investors paid little attention to mixed data in the United States today, as anticipation built up for a meeting between the finance ministers of the Group of Twenty.

USD/JPY Declines After Release of US Consumer Confidence data

The USD/JPY currency pair today declined significantly after the release of the University of Michigan preliminary consumer confidence index, which indicated that the headline index had beat expectations. Despite the strong data from the US, the US dollar continued to perform poorly against the Japanese yen for the better part of the day.

EUR/USD Trades Higher as US Dollar Weakens Despite Fed’s Hawkish Outlook

The EUR/USD currency pair rallied higher today solidifying the gains made yesterday as the US dollar weakened based on weak housing starts data released by the Census Bureau today. The US dollar weakened against the euro despite the hawkish outlook reported by Fed chair, Janet Yellen, during her two-day Humphrey-Hawkins testimony before Congress.

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