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Mexican Peso Snaps Six-Session Losing Streak amid Mixed Economic Data

The Mexican peso is struggling for direction against its US counterpart in the middle of the trading week amid mixed economic data. The peso recently snapped a multi-session losing streak after foreign exchange markets were concerned over slumping factory activity and energy supplies from the US after the blast of wintry weather.

USD/CNY Flat amid Broad Financial Market Slide, PBoC Tightening

The Chinese yuan traded relatively flat against its US peer on Tuesday as global financial markets are bleeding red ink for the second straight session. While the yuan has advanced to kick off 2021, the momentum in its rally has subsided, with the USD/CNY currency pair flatlining in February. Will the yuan target 6.4 or 6.5 against the greenback?

Outlook for NZ Dollar Ahead of First RBNZ Policy Meeting in 2021

The New Zealand dollar started the week as the strongest most-traded currency on the Forex market thanks to the upgrade of the nation’s credit rating by Standard & Poor’s. What other factors will be influencing the New Zealand currency and what traders should watch for during the rest of the week?

Turkish Lira Weakens Past 7 Despite Growth Upgrades, Policy Normalization

The Turkish lira weakened against its US peer to kick off the trading week, despite several growth updates from major financial institutions and the continuation of policy normalization. Since November, the lira has strengthened about 25%, but the USD/TRY currency pair has hit the pause button as the new policymakers defended the actions of their predecessors.

Australian Dollar Flat After RBA Minutes Provide No Surprises

The Australian dollar rose a bit at the start of Tuesday’s trading session but has retreated to trade near the opening level at the time of writing. The Aussie dropped versus the New Zealand dollar, which was the strongest currency on the Forex market today. The central bank’s minutes released on Tuesday did not provide any surprising new insights.

Australian Dollar Recovers After Starting Trading With Losses

The Australian dollar started Friday’s trading with losses but has recovered by the time of writing. Analysts considered the market sentiment to be positive for riskier currencies, especially after some major US stock indices reached new record highs on Thursday. Australian macroeconomic data released during Friday’s trading session was mixed but no report was outright disastrous.

Pound Falls Against Strong Dollar, Later Recovers on BoE Rate Decision

The Sterling pound today fell against the much stronger dollar in the first half of the day’s session driven by the predominantly risk-off market sentiment. The GBP/USD currency pair recouped all its losses and turned positive after the Bank of England announced its hawkish interest rate decision.

Pound Weak Despite Positive Revision to UK Services PMI

The Great Britain pound was one of the weakest currencies on the Forex market during Wednesday’s trading despite the positive revision to Britain’s services PMI. Markets now focus on Thursday’s monetary policy announcement from the Bank of England.

Australian Dollar Strong Despite Dovish Speech from RBA Chief

The Australian dollar rose against all other most-traded currencies today with the exception of the very strong New Zealand dollar. Australian macroeconomic data released on Wednesday was supportive of the Aussie but the speech of the central bank’s head was dovish, limiting the upside momentum for the currency. As of the time of writing, the Aussie has lost its gains versus the US dollar but rebounded against the New Zealand dollar.

Australian Dollar Retreats After RBA Monetary Policy Announcement

The Australian dollar started Tuesday with gains but reversed its movement after the monetary policy announcement from the Reserve Bank of Australia. While the central bank kept interest rates unchanged, markets still considered the policy decision to be surprisingly dovish.

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