The euro today traded at multi-year lows against the US dollar despite the release of positive German macro reports in the early European session. The EUR/USD currency pair fell to lows last witnessed in April 2017 after the results of the last French election were announced.
The Canadian dollar today rallied against its US counterpart in the first half of today’s session driving the USD/CAD to its daily lows boosted by in-line inflation figures. However, the currency pair quickly reversed course after the Bank of Canada announced its rate decision, which was interpreted as being very dovish.
The euro today rallied higher in the Asian session as investors reacted to Jerome Powell‘s dovish comments during his testimony before Congress. The EUR/USD currency pair later fell from its daily highs in the American session following the release of upbeat US inflation data.
The euro today rallied from 5-week lows hit yesterday following the ECB monetary policy decision and the balanced policy stance outlined by Mario Draghi. The EUR/USD currency pair’s rally started in the Asian session driven by a shift in investor sentiment and also as a pullback from yesterday’s crash.
The euro today traded lower against the US dollar despite the release of mixed economic releases from across the eurozone, which should have boosted the single currency. The EUR/USD currency pair was further weighed down by yesterday’s optimistic FOMC minutes, which boosted the greenback.
The euro rallied higher against its main counterparts today after the European Central Bank Governor’s speech on the bank’s rate decision. Mario Draghi‘s speech was a commentary on the ECB’s future outlook after it announced that it would maintain its current interest rates and its quantitative easing program.
The Canadian dollar today rallied higher against the US dollar after the Bank of Canada hiked its overnight lending rate by 25 bps meeting market consensus. The weaker US dollar also contributed to the USD/CAD pair’s decline as markets reacted negatively to Janet Yellen‘s testimony before Congress.
