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Australian Dollar Continues Move up, Shrugging off Negative Data

The Australian dollar managed to maintain yesterday’s gains and even accelerated its move to the upside today even though macroeconomic reports released in Australia during the current trading session were rather disappointing.

Pound Continues to Move Lower Ahead of Busy Week

The Great Britain pound continued to drop today, extending the Friday’s decline, as traders remained cautious ahead of the busy week.

British Pound Rises to Highest Level in Two Months on Strong Housing Market

The British pound rose to the highest level against the US dollar in more than two months on Thursday, as home prices rose more than expected in the United Kingdom. The British currency also touched its best level against the euro in a month following disappointing inflation data in the European Union.

Euro Rallies Briefly Against US Dollar on Disappointing US Data

The euro today rallied higher briefly against the US dollar after the release of disappointing US advance goods trade balance in the early American session. The pair was on a downtrend for most of the European session despite the release of the OECD Economic Outlook report in the early European session.

Pound Slides as Theresa May Faces Fresh Challenges to Leadership

The Great Britain pound fell today, losing 100 pips against the US dollar intraday. The sterling’s performance against other majors was no better. The main reason for the drop was political turmoil in Britain.

USD/CAD Recovers Lost Ground on Canadian Housing Price Index

The USD/CAD currency pair today recovered initially lost ground after the release of Canada’s housing price index data in the early American session. The pair had lost significant ground earlier in today’s session due to yield spread differentials that were much stronger than the impact of global oil prices on the loonie.

British Pound Gives up Early Gains as Political Troubles Linger

The British pound gave up some of its early gains against the US dollar and the euro on Thursday as investors remained concerned about the political stability of the British cabinet. Economic data in the United Kingdom added to the pressure on the British currency as home prices rose less than what analysts had previously expected.

Canadian Dollar Weakens Against US Dollar on BoC Rate Decision

The Canadian dollar today weakened against its US counterpart after the Bank of Canada announced that it would maintain interest rates at the current levels. The release of the US new home sales data, which exceeded market expectations also contributed to the USD/CAD currency pair’s rally.

EUR/USD Rallies Higher on Record German Business Climate Index

The EUR/USD currency pair today rallied higher after the release of an extremely high German IFO business climate index  for the month of October. The currency pair’s rally was limited by the markets’ anticipation of the decision by the European Central Bank regarding the tapering of its quantitative easing program.

Pound Stable as Markets Wait for Economic Data

The Great Britain pound was stable today amid Brexit uncertainties and anticipation of important economic releases this week. (Update: currently the sterling seems to start a gradual move down.)

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