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US Dollar Strengthens on Initial Jobless Claims, Fed Minutes

The US dollar is strengthening against a few currencies at the end of the trading week, buoyed by another decline in initial jobless claims and a central bank that is unlikely to do anything on interest rates. But disappointing housing numbers put a cap on the buck’s ascent.

Canadian Dollar Weakens as US-China Trade War Overshadows Upbeat Data

The Canadian dollar is weakening against several major currency rivals as investor fears over the escalation in the US-China trade war overshadowed upbeat economic data. Despite the disappointing performance midway through the second quarter, the loonie is still in positive territory on the year.

Icelandic Krona Crashes As Wow Air Bankruptcy Triggers Recession

The Icelandic krona is continuing its slide against a basket of currencies midweek as the bankruptcy of a budget airline has triggered a recession, prompting the central bank to spring into action. The latest financial crisis comes roughly a decade since the island nation was on the brink of insolvency following the collapse of several major banks that contributed to the global catastrophe.

Chinese Yuan Strengthens As Beijing Talks Up Currency

The Chinese yuan is strengthening on Tuesday as the federal government continues to talk up the currency, despite bearish sentiment from foreign investors surrounding the world’s second-largest economy. As the US-China trade war escalates, there are fears that not only will the Chinese economy continue to spiral downwards, but also the global economy will contract. 

Aussie Tanks, Driven Down by Prospects for Interest Rate Cut

The Australian dollar sank today after the central bank signaled that it may cut interest rates at its next monetary policy meeting. While market participants were already expecting a rate cut in the near future, the confirmation of the dovish outlook still hurt the currency.

Mexican Peso Weakens Despite Nearing Repeal of US Steel Tariffs

The Mexican peso is weakening against several major currencies toward the end of the trading week. Despite senior officials claiming that they are close to striking a deal that would see the US repeal its tariffs on steel and aluminum from Mexico, the peso was unable to take advantage. This could show that traders are more concerned about its fledgling economy and the political turmoil that has unfolded […]

Australian Dollar Falls After Unemployment Rate Rises

The Australian dollar fell today following the release of employment data. While the report had both positive and negative parts, markets preferred to focus on the negative ones. Additionally, the monetary policy outlook worsened.

Pound Soft After Mixed Employment Data

The Great Britain pound was generally soft today, dragged down mostly by the market sentiment. Domestic employment data was mixed, providing both positive and negative surprises, and therefore giving no help for the currency in finding direction.

Aussie Sinks as US-China Trade Tensions Sour Market Sentiment

The Australian dollar sank today, leading the decline among riskier commodity currencies, as the market sentiment deteriorated amid escalating trade tensions between China and the United States. Domestic macroeconomic data was not helpful to the Aussie either.

NZ Dollar Licks Wounds After RBNZ Cuts Interest Rates

The New Zealand dollar sank today after the Reserve Bank of New Zealand cut interest rates. By now, the currency managed to erase a big chunk of losses, though it is still trading below the opening level.

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