The Mexican peso fell versus the US dollar today despite the greenback was soft itself. The likely reason for the peso’s weakness was Mexico’s poor macroeconomic data. Escalation of the US-China trade war also had a very negative impact on the currency.
The Russian ruble is gaining on Thursday after renewed calls to reinstate Moscow into the G7. After being ousted from the group of eight economies over the annexation of Crimea in 2014, Russia might return to the table and engage with other economic powerhouses. Data is also lifting the ruble toward the end of the trading week.
The Malaysian ringgit gained today after Malaysia’s economy surprised experts, growing more than expected despite negative fundamentals. Economists remained largely pessimistic, though, arguing that the economy will likely not be able to maintain the impressive performance.
The euro today attempted to rally against the US dollar but failed to make any significant gains as investors sold the single currency on disappointing German GDP data. The EUR/USD currency pair failed to break above the crucial 1.1200 level amid selling pressure as fears of a German recession drove investors to the safe-haven dollar.
The Japanese yen is posting modest gains against most-traded currency rivals to start the trading week, despite various negative reports regarding the world’s third-largest economy. The latest research shows that the private sector is anticipating the economy to be flat or slip into a recession. With the US-China trade war lingering in the background and Tokyo set to be engaged in trade talks with Washington, economic growth is being threatened, and the central […]
The Sterling pound today crashed to fresh 2-year lows after the latest UK GDP report indicated that the country’s economy shrunk 0.2% in the second quarter. The GBP/USD currency pair was also weighed down by other weak UK macro releases including the disappointing industrial production data.
The Japanese yen gained today as risk aversion returned to markets after new developments in the US-China trade conflict. Domestic macroeconomic data was also supportive of the currency.
The Chinese yuan is stabilizing Tuesday after it cratered 2% against the US dollar to kick off the trading week. But the pause in yuan’s collapse might be temporary because the White House continues to apply pressure to the world’s second-largest economy, particularly as officials discuss labeling Beijing a currency manipulator. Investors will now look to China’s trade numbers on Wednesday.
The US dollar was surprisingly strong during the past trading week, rising against all other most-traded currencies. That is despite the outlook for monetary easing from the Federal Reserve next week.
The Sterling pound today fell against the US dollar as UK and European Union leaders exchanged words regarding the reopening of Brexit talks. The GBP/USD currency pair was on a losing trend from most of today’s session as markets reacted to the heightened possibility of a no-deal Brexit.
