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USD/CNY Flat amid Broad Financial Market Slide, PBoC Tightening

The Chinese yuan traded relatively flat against its US peer on Tuesday as global financial markets are bleeding red ink for the second straight session. While the yuan has advanced to kick off 2021, the momentum in its rally has subsided, with the USD/CNY currency pair flatlining in February. Will the yuan target 6.4 or 6.5 against the greenback?

US Dollar Falls amid Risk Appetite, Positive Data Doesn’t Help

The US dollar fell along with other safe-haven currencies, like the Swiss franc and the Japanese yen, as the market sentiment favored riskier currencies linked to growth. In fact, the Swissie was the only currency that fared worse than the greenback as the dollar fell even versus the yen, though it has been trying to rebound versus the euro too at the time of writing. Domestic macroeconomic data was favorable to the US currency but had […]

Australian Dollar Strongest, Reaches Multi-Year Highs Despite Negative Economic Releases

The Australian dollar traded as the strongest currency on the Forex market today as the market sentiment favored riskier commodity-geared currencies. That is despite Australia’s macroeconomic reports, which were rather bad.

Euro Rallies Against Dollar on Upbeat German PPI, and Eurozone PMIs

Today, the euro rallied higher against the much weaker dollar, extending yesterday’s gains buoyed by the positive euro area PMI reports released by Markit Economics. The EUR/USD currency pair rallied higher as investor sentiment towards the single currency turned bullish, boosted by the region’s improved COVID-19 vaccine rollout.

USD/CAD Rises on Strong Retail Sales, Industrial Output in January

The US dollar rose against some of its major currency peers in the middle of the trading week as financial markets failed to react positively to strong retail sales data. The greenback has strengthened during the holiday-shortened trading week amid investors continuing to seek safe-haven assets during the broader economic uncertainty.

NZ Dollar Weakest Despite Strong Economic Data

The New Zealand dollar was extremely weak today despite positive domestic macroeconomic data. In fact, the kiwi fell against all of its most-traded rivals. Furthermore, the New Zealand currency was one of the weakest for the week.

Canadian Dollar Soft, Fails to Get Support from Positive Fundamentals

The Canadian dollar was one of the weakest currencies on Monday, falling against the majority of its most-traded peers, though not all of them. It was surprising to see such a poor performance considering that fundamentals were largely supportive of the currency.

Great Britain Pound Mixed After Economic Data, Vaccine Export News

The Great Britain pound was mixed on Monday, rising against some peers and falling versus others. The majority of macroeconomic reports released in Britain during the trading session beat expectations. Also supporting the sterling was the news that the European Union will not restrict vaccine exports to the United Kingdom.

Euro Crashes Against Resurgent Dollar Despite Upbeat Euro Area Prints

Today, the euro fell to new 5-day lows against the resurgent dollar despite the release of multiple positive macro reports from across the euro area. The greenback’s surprise rally further fueled the EUR/USD currency pair’s decline despite market conditions favouring riskier assets.

Swiss Franc Sinks Despite Positive Macros

The Swiss franc sank today, declining against all of its most-traded rivals. The reason for such a poor performance was unclear, considering that domestic macroeconomic indicators released on Monday were extremely good, beating expectations by a wide margin. Some market analysts theorized that the slump of the Swiss currency was a result of outflows into the US dollar, which was very strong on Monday.

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