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Euro Crashes to 7-Week Lows As the US Dollar Surges Higher

The euro today fell against the US dollar for the third consecutive session as investors trimmed their expectations of a massive rate cut by the Fed boosting the greenback. The EUR/USD currency pair was also affected by market expectations of the announcement of further monetary easing policies by the ECB later this week.

Euro Drops on Fears of Further Monetary Easing From the ECB

The euro today fell from its daily highs against the US dollar as markets reacted to news that the European Central Bank was considering a different approach to meet its inflation target. The EUR/USD currency pair later recovered given that the greenback was also under significant selling pressure as markets continue to price in a Fed rate cut on July 31.

US Dollar Takes a Breather After Strong Data Sparks Rally

The US dollar is taking a breather midweek following a strong session on Tuesday, driven by strong economic data that left investors feeling ebullient. A string of housing numbers did come out, but the market did anticipate weakness in the sector, which could adjust traders’ minds about the world’s largest economy being on solid footing.

NZ Dollar Rallies on Improving Manufacturing, Fails to Keep Gains

The New Zealand dollar was attempting to rally today but failed, trimming its gains against some rivals and erasing them outright against others by now. Domestic macroeconomic data was positive for the currency.

Pound Mixed After Slew of Economic Reports

The Great Britain pound was mixed today, falling against some rivals while rising versus others. Such behavior is not surprising, considering that Britain’s macroeconomic data released over the trading session was mixed as well. The sterling was trying to erase losses but currently is not successful.

Canadian Dollar Gets Boost from Trade Surplus, Crude Oil Prices

The Canadian dollar gained on its most-traded rivals today, gaining help from the positive domestic trade data, which showed an unexpected surplus, and rising prices for crude oil, Canada’s major export commodity.

Euro Soft on Poor Manufacturing PMIs, Prospects for Stimulus

The euro was extremely weak today, falling against most of its major peers. One of the possible reasons for the slump was largely poor macroeconomic data released in the eurozone on Monday. Another one were comments from European Central Bank officials, which signaled that the ECB is ready to introduce more stimulus.

Pound Falls on Weak UK Manufacturing Data and Strong US Dollar

The British pound today fell against the US dollar following the release of weak UK manufacturing data by Markit Economics failing to capitalize on Friday’s bullish attempt. The GBP/USD currency pair was under pressure from the revitalized greenback following the pause in trade hostilities announced by the US and China over the weekend.

Japanese Yen Drops on Risk Appetite, Tries to Rebound. Domestic Data Mixed

The Japanese yen weakened today due to risk appetite caused by news about a trade truce between the United States and China. The currency has trimmed its losses later, though, erasing them against some rivals outright. Macroeconomic data released in Japan over the trading session was mixed.

Aussie Weak Despite Market Sentiment, Economic Data to Blame

The Australian dollar declined against most major currencies today despite the positive market sentiment, which should have been supportive to the currency. The possible reason for the decline was domestic macroeconomic data, which was somewhat mixed, with some bad releases.

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