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Canadian Dollar Pares Gains As Trade Deal Hopes Fade

The Canadian dollar started on Friday holding a three-month high as inflation data boosted odds of the central bank raising interest rates. Those gains were later pared after a White House official stated that the US is “very, very close” to moving ahead on a trade deal without Canada, suggesting that the U.S. and Mexico will embark upon a bilateral agreement instead of a trilateral one.

Norwegian Krone Flat Following Interest Rate Hike

The Norwegian krone was little changed today after the nation’s central bank raised its key policy rate yesterday.

US Dollar Ends Week Broadly Lower

The US dollar ended the week broadly weaker against its most-traded rivals as the positive market sentiment and disappointing macroeconomic data made the currency less attractive to investors.

Canadian Dollar Poised for Biggest Weekly Gain Since April

The Canadian dollar weakened on Friday, but the loonie is still on track for its biggest weekly gain in about five months. The currency recorded gains on surging oil prices, but they were capped on reports that the US and Mexico might exclude Canada from a trade deal, especially with the month-end deadline on the horizon.

Euro Rallies Higher on Weak US CPI Data Amid Dovish ECB Rate Decision

The euro today rallied higher against the US dollar in the early American session following the release of disappointing US inflation data. The EUR/USD currency pair barely reacted when the European Central Bank announced its interest rate decision earlier today, which was in line with expectations.

Turkish Lira Rallies After Central Bank Hikes Policy Rate

The Turkish lira gained today after the nation’s central bank increase some of its interest rates and talked about possibility of more hikes in the future.

Sterling Pound Trades Sideways on BoE Rate Decision, Later Declines

The Sterling pound today traded sideways immediately after the Bank of England announced its interest rate decision, which was in line with expectations. The GBP/USD currency pair headed lower afterwards even as investors adjusted to the rate decision while looking forward to other fundamental triggers.

US Dollar Rallies on Strong August Jobs Report

The US dollar is rallying against its major counterparts at the end of the trading week following a better-than-expected August jobs report. The bullish economic report will likely give further ammunition to the Federal Reserve to raise interest rates at its next Federal Open Market Committee (FOMC) policy meeting later this month, a dollar-positive move.

Swedish Krona Drops After Riksbank Pushes Back Rate Hike Date

The Swedish krona dropped today after Sweden’s central bank kept its benchmark repo rate unchanged and pushed back the planned rate hike to a later date.

Australian Dollar Fails to Hold Ground After RBA Meeting

The Australian dollar attempted to hold its ground after the policy meeting of the Reserve Bank of Australia but failed and is now trading below the opening level. The worse-than-expected current account balance added to the downside momentum of the currency.

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