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NZD Declines on Falling Inflation Expectations, Interest Rate Outlook

The New Zealand dollar fell against all other most-traded currencies today, even its Australian counterpart, which was rather weak itself. While deteriorating inflation expectations were one of the possible reasons for the decline, the major driver for the currency was the negative monetary policy outlook.

Canadian Dollar Mixed on October Jobs Report, Housing Fallout

The Canadian dollar is failing to rebound to kick off the trading week as the currency was stung by a disappointing October jobs report on Friday. The loonie was further hampered by slumping housing numbers. Is the Canadian economy at a standstill or is there room for growth?

Australian Dollar Falls vs. Rivals After Home Loans, RBA Monetary Policy Statement

The Australian dollar fell against almost all other most-traded currencies today. Domestic macroeconomic data was unfavorable to the currency as it missed market expectations. The monetary policy statement released by Australia’s central bank today retained an optimistic outlook for the nation’s economy but kept the possibility of additional monetary easing in the cards.

Swiss Franc Flat As Consumer Confidence Slides, OECD Slams Surplus

The Swiss franc is trading sideways on Thursday as consumer confidence fell to a 10-year low. With the survey suggesting that the Swiss anticipate higher unemployment and weaker economic growth, the Organisation for Economic Cooperation and Development (OECD) slammed the federal government for posting budget surpluses. But local businesses are more perturbed by subzero interest rates than a government that is saving money.

Japanese Yen Rallies in Risk-Off Markets as US Dollar Falls on FOMC

The Japanese yen today rallied against the US dollar in a risk-off market environment as the greenback sold off after yesterday’s FOMC rate decision. The USD/JPY currency pair today crashed to new lows after the release of upbeat housing and construction data from the Japanese docket.

US Dollar Rallies on Federal Reserve’s Cuts to Interest Rates

The US dollar is rallying on Wednesday afternoon after the Federal Reserve cut interest rates for the third time this year. But the big news coming out of the Federal Open Market Committee (FOMC) policy meeting was the central bank indicating that it is hitting the pause button on rate cuts. The third-quarter gross domestic product (GDP) was also in the spotlight leading up to the October meeting.

Canadian Dollar Crashes Against US Peer on BoC Rate Decision

The Canadian dollar today crashed against the US dollar after the Bank of Canada announced its interest rate decision, which was widely interpreted as being dovish. The USD/CAD extended its gains as the price of crude oil fell to new lows taking down the loonie given Canada’s reliance on oil exports as a source of foreign income.

US Dollar Mixed Ahead of October Federal Reserve Meeting

The US dollar is trading mixed against multiple currencies on Tuesday ahead of the Federal Reserve kicking off its two-day October policy meeting where it is widely expected the central bank will cut interest rates for the third time in 2019. While the buck did find refuge in positive housing data, investors’ attention will be on quarterly gross domestic product (GDP) numbers, manufacturing data, and the October jobs […]

Canadian Dollar Flat As Investors Brace for Interest Rate Decision

The Canadian dollar is trading relatively flat against most competing currencies to kick off the trading week. After witnessing the August federal deficit come in larger than anticipated, investors are now waiting to see how the Bank of Canada (BOC) moves ahead with interest rates now that the general election is over and the Liberals have secured a minority government.

US Dollar Flat As Capital Goods, New Home Sales Disappoint Markets

The US dollar is trading relatively sideways against some of its biggest currency rivals to close out the trading week. The latest release of US economic data is disappointing markets, which is raising the probability of another quarter-point decrease to interest rates in October. For now, investors might be adopting a wait-and-see approach to trading the buck prior to next week’s important Federal Reserve policy meeting.

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