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Japanese Yen Mixed amid Signs of Economic Slowdown

The Japanese yen was mixed today despite the relatively negative sentiment amid investors. Usually, the yen rallied amid risk aversion due to its status as a safe haven. But today, the currency was struggling to rise. Some analysts explained that by the rally of the stock market. Domestic economic indicators were not favorable to the currency of Japan either.

Euro Rallies Against Dollar, Later Falls on Dovish Sentiment

The euro today extended its losing trend against the much stronger US dollar driven by the release of mostly negative euro area PMI prints by Markit Economics. The EUR/USD currency pair today fell driven by the massive demand for the greenback amid fears that the rising coronavirus cases would derail the global economy.

Australian Dollar Weak on Interest Rate Cut Outlook

The Australian dollar was one of the weakest currencies on the Forex market during Wednesday’s trading. The Aussie fell even against its New Zealand counterpart, which itself was extremely soft, though by now the AUD/USD pair has almost erased its losses. Market analysts thought that the main reason for the currency’s weakness was the outlook for an interest rate cut in the near future.

Turkish Lira Flat After Crashing to Record Low on Credit Downgrade

The Turkish lira is trading relatively flat against the US dollar on Tuesday. The lira crashed to a record low on Monday after one of the world’s premier credit ratings agencies slapped Turkey with a credit downgrade and geopolitical tensions between Turkey and Greece escalate. After cratering to an all-time low this past spring, does this mean the lira can suffer another record low this year?

Japanese Yen Weak on Friday, Strong Over Week

The Japanese yen was the weakest currency on the Forex market today but among the strongest for the week. With no unifying theme to drive markets, it is hard to pinpoint an exact reason for the currency’s poor performance, though some market analysts attributed it to the positive market sentiment that made the yen unnecessary in its role of a safe haven. As for Japan’s macroeconomic reports, they were not that bad but it hardly […]

NZ Dollar Strong Despite Drop of Manufacturing Index

The New Zealand dollar was among the strongest currencies on the Forex market today, together with its Australian counterpart. The kiwi managed to rally despite the report that showed a drop in New Zealand’s manufacturing index.

Australian Dollar Among Strongest on Economic Data, Risk Appetite

The Australian dollar was among the strongest most-traded currencies today thanks to the risk appetite caused by the surge of the Nikkei stock index. Decent macroeconomic data in China, Australia’s biggest trading partner, and in Australia itself also provided support to the Aussie.

Sterling Pound Crashes Against the Dollar as Risk Appetite Dissipates

The Sterling pound today crashed against the US dollar as investor sentiment turned decisively bearish favouring the safe-haven greenback, which rallied. The GBP/USD currency pair today fell despite the release of upbeat UK retail sales data earlier in the session as investors fled riskier assets, including equities.

Pound Falls Against US Dollar As UK GDP Contracts 20.4% in Q2

The Sterling pound today fell against the US dollar amid worries that the UK economy was not recovering fast enough following its reopening after the coronavirus lockdowns. The GBP/USD currency pair today headed lower after the UK’s Finance Minister Rishi Sunak said that many people would lose their jobs due to the COVID-19 pandemic.

Euro Trades Sideways Despite Upbeat Euro Area Flash PMI Prints

The euro today traded sideways against the US dollar as the market sentiment remained subdued despite the release of multiple PMI prints from the euro area by Markit Economics. The EUR/USD currency pair did not react to the US PMI releases as well amid a lack of volatility in the markets as the week comes to an end.

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