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Canadian Dollar Strengthens Despite Higher-Than-Expected Inflation

The Canadian dollar is strengthening against its US currency peer on Wednesday, despite price inflation coming in higher than the market forecast. Although the loonie has fallen against the greenback this year, the Canadian dollar has been making gains in recent months, allowing the currency to stabilize after enormous volatility in the first half of 2020.

US Dollar Erases Gains As Nancy Pelosi Says Stimulus Deal Possible by Day’s End

The US dollar erased its gains on Tuesday and deepened into negative territory after House Speaker Nancy Pelosi revealed that a coronavirus stimulus and relief package could be done by the day’s end. This sent stocks and other asset classes rallying as investors were confident that the White House and the Democratic leadership could reach an agreement over a $2 trillion bill.

US Dollar Looks for Direction As Jobless Claims Fall to Pandemic Low

The US dollar is looking for direction against many of its currency rivals on Thursday after the federal government reported that the number of Americans filing for first-time unemployment benefits declined to a pandemic low. The US central bank’s important September policy meeting continues to weigh on the buck, while uncertainty surrounding Congress’ newest stimulus package sparks concern in the broader financial markets.

Canadian Dollar Firm After BoC Policy Meeting

The Canadian dollar was firm today, though fell against other commodity currencies. The loonie rallied even after the Bank of Canada signaled that it plans to keep monetary policy accommodative for a long time. Domestic housing data was favorable but hardly had any impact on the Canadian currency.

Japanese Yen Weakens on Disappointing Retail Sales, Construction Orders

The Japanese yen is weakening against multiple currency rivals to start the trading week, driven primarily by disappointing macroeconomic data. Despite higher-than-normal inflows into the traditional safe-haven asset, the yen slumped on worse-than-expected retail sales, construction orders, and housing starts. But could the world’s third-largest economy get a boost from one billionaire hedge fund manager’s recent play?

Euro Surges to 2-Year Highs Against the US Dollar, Later Retreats

The euro today rallied to new 2-year highs against the US dollar mainly driven by the latter’s overall weakness as tracked by the US Dollar Index. The EUR/USD currency pair today hit a high of 1.1966, which was last seen in March 2018 driven by the bullish investor sentiment.

Sterling Falls on Rising COVID-19 Cases as Johnson Reopens UK Economy

The Sterling pound today failed to capitalise on the dollar’s overall weakness like other major currencies amid rising coronavirus cases in the UK that scared investors. The GBP/USD currency pair fell for half of today’s session before recovering during the American market on mixed US housing data to trade flat for the day.

Japanese Yen Holds Steady As Abe Extends State of Emergency

The Japanese yen is holding steady against its most traded currency rivals to start the week. After disappointing economic data and expanded monetary stimulus announcements last week, the yen is being largely driven by the government’s decision to extend the state of emergency for the rest of May. While Tokyo is bracing for a severe downturn, the tsunami of coronavirus cases has yet to occur.

US Dollar Mixed As 22 Million Americans Lose Jobs in Four Weeks

The US dollar is mixed against its G7 currency rivals on Thursday after the US government reported a slightly worse-than-expected jobs report that brought the total number of Americans who lost their jobs to about 22 million. A flurry of other economic data weighed on the greenback and US equities, leaving everyone wondering just how long the coronavirus pandemic will affect the world’s largest economy.

US Dollar Rallies Despite Mixed Data As Investors Pour Into Safe-Haven Asset

The US dollar is rallying against many major currencies midweek as investors continue to pour into the traditional safe-haven asset. Despite mixed economic data, the greenback is trading at its best level in three years throughout the Covid-19 pandemic that has crippled the global economy and paralyzed global financial markets.

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