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Australian Dollar Gets Boost from Housing Data & Crude Oil

The Australian dollar rose against its most-traded rivals today, supported by domestic macroeconomic data and other positive fundamentals. There were negative factors as well, but positive ones had ultimately bigger impact.

Euro Weak as Clash Between Italy & EU Continues

The euro was weak against most of its major currencies today due to the clash between Italy and the European Union over Italy’s budget deficit target. The shared 19-nation currency managed to gain on the Great Britain pound, which was also extremely weak due to Brexit concerns.

South African Rand Jumps More Than 2%

The South African rand jumped more than 2% versus the US dollar today after plunging 2% on Friday. The rand reached the highest level in a month and demonstrated the biggest jump in more than eight months. The moves of the currency was a reaction to decisions of rating agencies.

Australian Dollar Mixed After Lowe’s Speech and Moody’s Downgrade

The Australian dollar was mixed after the speech of Phillip Lowe, Reserve Bank of Australia Governor, and as Moody’s Investors Service downgraded credit ratings of several Australian Banks. The Aussie fell against such majors like the US dollar and the Swiss franc, but was flat versus the euro and gained on the weak yen.

Chinese Yuan Falls After Moody’s Downgrade, Recovers

The Chinese yuan slipped against the US dollar today (though it has trimmed the losses by now) after Moody’s Investor Service made a surprise cut of China’s credit rating for the first time in almost three decades.

Loonie Weakens After Moody’s Downgrades Canada’s Banks

The Canadian dollar traded lower against its major counterparts today as the credit rating downgrade of six Canadian banks by Moody’s Investors Service damaged the attractiveness of the currency to investors.

Rand Climbs as South Africa’s Credit Ratings Preserved

The South African rand rallied more than 1% at the start of the current trading week after rating agencies maintained South Africa’s credit grade at the end of the last week.

Brazilian Real Unfazed by Moody’s Credit Rate Downgrade

The rally of the European stocks allowed the currency markets to stabilize, leading to a bounce of riskier currencies. The Brazilian real joined the rally against the US dollar even though Brazil’s credit rating was reduced by Moody’s to junk.

Euro Ends Week with Losses vs. Dollar, Mixed Against Other Currencies

The euro demonstrated big losses against the US dollar this week, falling to the lowest level in more than two years. The euro’s performance against other currencies was mixed: the shared 18-nation currency ended the week lower against the Great Britain pound, flat versus the Australian dollar while against the Japanese yen, the euro reached a new multi-year high.

Yen Gains, Under Pressure from Credit Rating Downgrade

The Japanese yen rallied yesterday and maintained its gains today. The currency was under pressure after Moody’s Investor Service decided to cut Japan’s credit rating on Monday. The yen remained soft against the Great Britain pound.

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