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Chinese Yuan Extends Losing Streak on PBoC Move, Exports

The Chinese yuan is extending its losing streak against a basket of major currency rivals on Tuesday. The yuan, which recently suffered its worst one-day drop in seven months, slumped on slightly lower-than-expected trade data. With more economic data being released this week, the yuan could come under a lot of pressure and reverse its significant 2020 rally.

Canadian Dollar Falls Against US Peer on Trump Stimulus Tweets

The Canadian dollar today gave up most of its gains against the US dollar as the latter rallied boosted by the risk-off market sentiment as stimulus hopes dissipated. The USD/CAD currency pair rallied higher during the American session as President Donald Trump dashed all hopes of a US stimulus deal ahead of the November 3 elections.

Japanese Yen Extends Winning Streak As BoJ Maintains Ultra-Loose Support

The Japanese yen is extending its winning streak against many of its most traded currency counterparts on Thursday. The yen found support in the central bank leaving interest rates in subzero territory and keeping its bond-buying program. In addition to the ultra-loose efforts of the Bank of Japan (BoJ), the institution plans to coordinate with new Prime Minister Yoshihide Suga on a wide range of policies.

Chinese Yuan Renews Gains on Market Rally, Positive Data

The Chinese yuan is looking to start another winning streak after the currency suspended its momentum against the US dollar. The yuan has been on a tear in recent months, testing 6.8 against the greenback, primarily due to favorable domestic economic data and a weakening buck. But escalating US-China tensions and the plunge in equities in recent sessions could limit the yuan’s gains – for now.

USD/CAD Rises As Initial Jobless Claims Fall to New Pandemic Low

The US dollar is looking to continue its winning streak on Thursday after the federal government reported that the number of Americans filing for first-time unemployment benefits plunged to a new COVID-19 pandemic low. Although the number remains historically high, the trends suggest the labor market is extending its rebound. But while the greenback has cratered in recent months, is the string of gains a signal that the currency is triggering a rally?

South Korean Won Mixed As Inflation, Manufacturing PMI Drive Currency

The South Korean won is mixed in the middle of the trading week as inflation and manufacturing data drive one of the worst-performing Asian currencies this year. Although the won has recovered against the greenback since June, the currency has come under a lot of pressure based on the recession and a coronavirus resurgence. Could the won retest 1,200 by the year’s end?

US Dollar Flat As Initial Jobless Claims Fall to Lowest Level of Pandemic

The US dollar is trading relatively flat against its G10 currency counterparts after the US government reported that initial jobless claims declined to their lowest levels of the COVID-19 pandemic. The greenback has been trading quietly ahead of the July jobs report on Friday. The broader financial market, except the precious metals, was also subdued toward the end of the trading week.

Canadian Dollar Rallies Against US Peer on Strong Oil Prices, Later Falls

The Canadian dollar today rallied against its US peer as oil prices hit new multi-month highs before giving up its gains and heading lower. The USD/CAD currency pair later recouped most of its losses as oil lost its lustre at a crucial resistance level dragging the loonie lower.

South Korean Won Weakens on Exports, Manufacturing Data

The South Korean won is weakening against some of its major currency competitors on Tuesday as macroeconomic data came into focus. The won has had a disappointing year so far, slumping in the aftermath of the coronavirus pandemic and disappointing economic figures. Is a rebound in sight amid its first recession in nearly 20 years?

USD/CHF Tests 0.92 As UBS Warns US Will Label SNB a Currency Manipulator

The Swiss franc is extending its gains against many of its G10 currency competitors to finish the trading week. With the US dollar weakening and global economic uncertainty amid the coronavirus pandemic, investors continue to pour into the franc, much to the chagrin of a central bank doing everything it can to place a cap on its ascent.

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