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Pound Holds On to Gains 2 Days Ahead of the General Elections

The British pound today held on to yesterday’s gains against the US dollar two days ahead of Thursday’s elections with opinion polls predicting a win by the Conservative Party. The GBP/USD currency pair today rose to 8-month highs as investor optimism about Britain’s future including Brexit remained high.

Yen Gains on Commodity Currencies After Positive GDP Revision

The Japanese yen gained on commodity currencies but was trading flat against most major currencies, with the exception of the US dollar. Domestic macroeconomic data was decent, with the GDP figure getting a positive revision compared with the preliminary report.

Great Britain Pound Forecast for December 09-13, 2019

The Great Britain pound performed rather well last week, but this week’s behavior of the UK currency will likely be extremely erratic and unpredictable. The reason for that is the UK general election on Thursday. The outcome of the vote will shape Britain’s political landscape, and thus it will determine chances for a no-deal Brexit.

Euro Inches Higher On In-Line Eurozone GDP and Weak Dollar

The euro today inched higher against the US dollar driven by the latest eurozone GDP data, which met expectations, and positive market sentiment. The weaker greenback also fueled the EUR/USD currency pair’s gains as investors remained sceptical about the possibility of a US-China trade deal.

Australian Dollar Weak After GDP Miss

The Australian dollar was weak today due to uncertainty surrounding the US-China trade deal as well as the slower-than-expected economic growth in Australia. Losses were limited, though, thanks to the positive report from China, Australia’s biggest trading partner.

Brazilian Real Falls As Trump Threatens to Restore Tariffs

The Brazilian real is falling against multiple currency rivals as President Donald Trump threatened to restore tariffs on Brazil and Argentina goods, accusing the two countries of devaluing their currencies. But is this really about the two markets becoming go-to sources for China’s soybean needs? The Brazilian leadership attempted to quash concerns, noting that it plans to speak with the US administration.

Canadian Dollar Spikes After GDP, Loses Gains Immediately Afterward

The Canadian dollar fell against almost all most-traded currencies today, even the soft yen. The Swiss franc was the only exception, falling against all other major rivals. The Canadian currency spiked after the release of a GDP report but lost gains almost immediately.

Euro Falls Despite Multiple Upbeat Euro Area Inflation and Jobs Reports

The euro on Friday fell against the US dollar to continue trading within the tight range that has held for the past four days as it remained under pressure. The EUR/USD currency pair fell despite the release of the upbeat preliminary eurozone consumer price index data for November earlier today.

KOF Economic Barometer Drops Unexpectedly, Swiss Franc Fails to Attract Demand

The Swiss franc was rather soft today, falling against some major rivals and trading flat versus others. It looked like traders felt no need to buy safer currencies despite increasing tensions between the United States and China over Hong Kong protests and their potential negative impact on chances of reaching a trade deal. Domestic macroeconomic data did not help the Swissie either as the report released today […]

Euro Ignores Upbeat German Data, Falls on Positive US Reports

The euro today fell against the US dollar negating yesterday’s gains as investors sold the single currency given the weak data coming out of the eurozone recently. The EUR/USD currency pair fell amid a lack of significant releases from the euro area, leaving the euro at the greenback’s mercy, which was quite strong and pushed the pair lower.

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