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Euro Halts Drop to Rally Higher on Upbeat German IFO Data

The euro today halted its slide against against the US dollar following the release of the upbeat German IFO business survey data in the early European session. The EUR/USD currency pair was under intense selling pressure today as the greenback recovered from Friday’s selloff, which was triggered by the Fed Chair Jerome Powell‘s dovish speech.

Euro Rallies Higher on Positive German GDP Data and Weak US Data

The euro today rallied higher against the US dollar following the release of mixed data from Germany led by the positive German Q2 GDP data. The EUR/USD currency pair posted more gains following the release of weak data from the US docket in the early American session.

EUR/USD Hits New Two-Year Highs on Weak US Dollar

The EUR/USD currency pair today hit a 31-month high during the North American session after the release of disappointing US advance goods trade balance data. The currency pair’s rally started on Friday after Janet Yellen‘s and Mario Draghi‘s speeches at the Jackson Hole symposium, which triggered the euro’s rally against the greenback.

US Dollar Ends Week Vulnerable amid Political Concerns

The US dollar ended the week with significant losses versus the euro amid concerns about the turbulent political climate of the United States.

Canadian Dollar Rallies Against US Dollar on Janet Yellen Speech

The Canadian dollar today rallied higher against its US counterpart after Janet Yellen‘s speech at the Jackson Hole Symposium. The US dollar had earlier rallied from daily lows after the release of the durable goods orders report for the month of July.

GBP/USD Tests New Lows Despite Positive UK Public Finances Data

The GBP/USD currency pair today hit new lows despite the release of positive public sector finances data by the Office for National Statistics. The pair’s decline was further precipitated by the higher buying pressure around the US dollar even as political tensions in Washington DC abate.

Dollar Mixed as Traders Wait for Yellen & Jackson Hole Symposium

The US dollar was mixed today, rising against the euro (after the falling earlier), falling versus the Great Britain pound, and staying almost flat against the Japanese yen. The greenback also demonstrated mixed performance against commodity currencies.

US Dollar Mostly Rangebound Ahead of Jackson Hole

US dollar is mostly rangebound ahead of a meeting of central bankers later this week in Jackson Hole, Wyoming. Some expect Federal Reserve Chair Janet Yellen to express a readiness for an interest rate hike by the end of the year, and many are waiting to see what she says.

Yen Feels Stronger After Jackson Hole Symposium

The Japanese yen gained today against some of its most-traded peers, including the US dollar and the Great Britain pound, thanks to the surge of risk aversion on the Forex market following the conclusion of the Jackson Hole symposium.

Euro Struggles on Easing Expectations

Even though the euro is higher against some of its major counterparts, the 18-nation currency is struggling today. Euro has slipped lower against the US dollar, and is barely holding its own against the UK pound. Expectations that the ECB could ease policy further next week are weighing.

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