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Euro Slips Against Dollar on Dovish ECB Speeches, Risk-Off Sentiment

The euro today fell against the dollar despite the release of multiple upbeat macro prints from across the euro area as investors risk appetite remained muted. The EUR/USD currency pair was also weighed down by dovish comments from European Central Bank policymakers regarding the euro’s strength.

US Dollar Rises Amid Higher Price Inflation, US Impeachment Vote

The US dollar is trading higher as investors take more of a cautious approach to the financial markets in the middle of the trading week. Traders are combing through the data, including consumer prices and mortgage lending, but they are also keeping an eye on the US impeachment vote. The greenback is continuing its surprisingly strong start to 2021, but can the currency keep up the momentum?

Chinese Yuan Strengthens As PBoC Signals Policy Tightening in 2021

The Chinese yuan is adding to its strong start to 2021 against the US dollar on Tuesday. The yuan, which has been one of the top-performing currencies in foreign exchange markets over the last eight months, is finding support on policy support stabilization, highlighting that officials are confident that the recovery is occurring at a good pace. Although policymakers have indicated they will allow the yuan to appreciate, investors are wondering […]

Australian Dollar Follows Other Commodity Currencies in Decline, Tries to Rebound

The Australian dollar fell today together with other commodity currencies as investors were more interested in safer currencies, like the US dollar and the Japanese yen (but not the Swiss franc). That suggests that markets were in a risk-off mode, and the decline of European stocks during Monday’s trading session also implied that it was the case. The Aussie was attempting to rebound, getting support from better-than-expected macroeconomic releases in Australia […]

Euro Falls Against Resurgent Dollar on Weak Inflation and Retail Sales Data

Today, the euro fell against the resurgent dollar amid rising US Treasury yields that boosted the world’s reserve currency despite the turbulent American politics. The EUR/USD currency pair’s decline was also fueled by the disappointing inflation data coming out of the eurozone, causing investors to sell the euro.

USD/RUB Rises Amid Mixed Economic Data, Wheat Taxes

The Russian ruble is continuing to pare its gains from the last month amid mixed economic data. But experts think that Russia will begin to recover next year, joining the rebound in the broader global economy. With a commodities boom, could Moscow see a dramatic resurgence over the next 12 to 18 months?

Canadian Dollar Plunges on Dovish BoC and FOMC Rate Decision

The Canadia dollar was on a losing streak today as investors digested yesterday’s dovish comments by the Bank of Canada regarding the currency’s value. The USD/CAD currency pair today rallied higher as investors sold the loonie after realising that Canada’s central bank was very uncomfortable with its strength.

British Pound Climbs to Two-Year High on Optimism Over Brexit Trade Deal, Data

The British pound sterling advanced to its highest level against the US dollar in more than two years, driven by a weakening greenback and lower-than-expected inflation. The currency is also finding support on growing odds of a Brexit trade deal after officials stated that both sides are creating a path to establishing an agreement.

Euro Rises on COVID-19 Vaccine Hopes and Positive Risk Sentiment

The euro today inched higher against the dollar as investor risk appetite increased slightly on hopes that the US Congress will reach a stimulus deal soon. The EUR/USD currency pair’s rally was also boosted by news regarding the approval of Pfizer’s COVID-19 vaccine in the US and the fast-tracking of the same in Europe.

US Dollar Slumps Amid Worse-Than-Expected Initial Jobless Claims, Stimulus Standstill

The US dollar is struggling to hold onto its weekly gain against some of its key currency pairs as the number of Americans filing for first-time unemployment benefits surged to its highest level since September. Higher inflation and fiscal stimulus negotiations stuck at a standstill weighed on the greenback. How much more room is there for the buck to fall to wind down 2020?

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