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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.

NZ Dollar Drops After RBNZ Hints at Additional Monetary Easing

The New Zealand dollar dropped today, falling against some of its rivals, like the US dollar, for the third consecutive day. The currency declined following the monetary policy announcement from the nation’s central bank. The Reserve Bank of New Zealand confirmed that it continues to prepare additional measures to stimulate the New Zealand economy.

US Dollar Ends Confusing Week Mixed

The past trading week was rather confusing, with many currencies moving in unexpected directions. For example, the Japanese yen and the Swiss franc are both considered to be safe currencies and thus usually move in the same direction. But this week, the Japanese yen ended trading as the strongest currency on the Forex market, while the Swiss franc was the weakest one. The US dollar was not an exception, moving unpredictably after the FOMC monetary […]

Sterling Tanks After BoE Talks About Negative Interest Rates

The Great Britain pound sank today, overtaking the New Zealand dollar as the weakest currency on the Forex market during Thursday’s trading. The sterling dropped after the monetary policy announcement from the Bank of England. While the central bank kept its policy unchanged, the wording of the statement led to the drop of the currency.

Japanese Yen Stable, Gains on US Dollar

The Japanese yen was stable against other most-traded currencies today, even managing to gain on the US dollar, despite the generally positive market sentiment. Traders were more cautious than usual, though, due to the upcoming FOMC monetary policy announcement, resulting in quieter-than-usual trade.

Analysts Remain Unconvinced by Sterling’s Rally

The Great Britain pound was the strongest currency on the Forex market today, rallying against other most-traded counterparts. But analysts were not convinced by the rally, arguing that it was a result of short-sellers taking profits, not supportive fundamentals. With not many fundamental factors supporting the currency and several high-profile events this week, specialists think that it is too risky to buy the sterling.

US Dollar Weak, Ignores Good Inflation Data

The US dollar was among losers today, falling against most other major currencies and trading on par with the weakest of them, like the Japanese yen, the Great Britain pound, and the Canadian dollar. It looked like the release of US inflation data should be the major event on Friday but traders largely ignored it. The report came out better than expected but had hardly any positive impact on the greenback.

Euro Rallies on ECB Rate Decision and High US Jobless Claims

The euro today held on to its gains after the European Central Bank announced its interest rate decision, which was in line with analysts expectations. The EUR/USD currency pair extended its bullish trend during the ECB Governor’s speech, which was relatively hawkish.

Great Britain Pound Firm Despite Falling Construction Index, Outlook for Monetary Easing

The Great Britain pound rose today despite the gloomy outlook and an unexpected drop in the construction index. While the sterling has lost its gains versus commodity currencies by now, it continued to trade above the opening level against other most-traded peers.

Aussie Soft After Economy Enters First Recession in Almost 30 Years

The Australian dollar was soft today after data confirmed that Australia’s economy has entered a recession. The losses were limited, though, and the Aussie managed to remain flat against a range of peers. The currency had a muted reaction to yesterday’s monetary policy announcement from the Australian central bank.

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