The Sterling pound today fell almost to one-week lows after the release of a raft of disappointing macro data from the UK docket such as the April GDP print. The GBP/USD currency pair remains under pressure as the Conservative Party‘s search for a successor to the outgoing Prime Minister Theresa May officially kicks off.
The US dollar ended the past trading week as the weakest currency on the Forex market. Prospects for an interest rate cut from the Federal Reserve was one of the main themes for talks among investors lately. But the latest developments in the trade war saga may change things.
The euro today rallied to new multi-week highs when the European Central Bank announced the terms of its TLTRO III facility, which were better than expected. The EUR/USD currency pair had traded lower following the ECB rate decision but spiked higher after Mario Draghi‘s speech.
The euro today fell against the US dollar during the Asian session driven by investor sentiment and the greenback’s rally amid global trade tensions. However, the EUR/USD currency pair recovered and rallied higher as the US 10-year Treasury yields fell to record lows driven by rising US bond prices as investors sought safety in them.
Macroeconomic data released in Canada today was very good, but it did not prevent the Canadian dollar from falling. Risk aversion caused by trade wars and falling prices for crude oil, Canada’s major export, were responsible for the currency’s lackluster performance.
The Canadian dollar gained on Thursday, though trimmed its gains by the end of the trading session. The currency managed to rally even as crude oil posted huge losses, falling more than 4% over the course of Thursday’s trading. There were several possible fundamental reasons for the good performance of the Canadian currency.
The US dollar is mixed against a basket of currencies on Thursday as data has been both good and bad for the world’s largest economy. With the US-China trade war seemingly worsening, investors have been clamoring for some excellent data to offset the lackluster development in trade talks.
The Canadian dollar was largely soft today, though it has managed to trim its losses by now, even gaining on the euro. The decline of crude oil prices is likely to blame for the poor performance of the currency as domestic news did not bring anything particularly bad.
The euro today fell against the US dollar driven by negative investor sentiment, weak German jobs data as well as the ECB’s cautious review. The EUR/USD currency pair today fell to new weekly lows in the American session as Sino-US trade tensions dominated the markets affecting investor risk sentiment.
The Swiss franc gained on its most-traded peers today as the trade war between the United States and China continued to make investors nervous, driving them towards safer currencies. Wednesday’s negative domestic macroeconomic data did not hurt the Swissie much.
