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Mexican Peso Weakens As Economy Contracts In Q1, AMLO Dismisses Concerns

The Mexican peso weakened against a basket of currencies towards the end of the trading week after the economy contracted in the first quarter. Despite the deceleration across the country, the peso is still one of the best performing currencies so far this year. Could it hold up after a plethora of forecasts suggest the Mexican economy is in store for a rough period?

Euro Rallies Briefly Against US Dollar on Disappointing US Data

The euro today rallied higher briefly against the US dollar after the release of disappointing US advance goods trade balance in the early American session. The pair was on a downtrend for most of the European session despite the release of the OECD Economic Outlook report in the early European session.

Euro Rises Against Few Rivals, Retreats Versus Most

The euro was mixed today, rising against the Great Britain pound and the Swiss franc, but falling against other most-traded currencies, even losing its earlier gains versus the US dollar.

US Dollar Higher Against European Currencies

Even though the US dollar index is a little lower today, the greenback itself is gaining ground against its European counterparts. It looks to be an interesting day following a decision not to indict in Ferguson, as well as concerns about OPEC and the eurozone.

Euro Loses Ground After OECD Report

Euro is losing ground today in currency trading, thanks in large part to a report from the Organization for Economic Cooperation and Development. This report indicates that the eurozone’s economic growth is lagging behind the United States and United Kingdom. The worry of deflation is also weighing on the euro.

Canadian Dollar Falls Even as Crude Oil Rallies

The Canadian dollar fell today despite the rally of crude oil — the major export of Canada. The currency dropped as prospects for global growth worsened.

Norwegian Policy Makers Think Krone Too Strong

The Norwegian krone fell a little against the US dollar today and may retreat even further on speculations that policy makers will try to push the exchange rate down. The currency remained firm against the euro.

Euro Gains Ground on Optimism in the Eurozone

Euro is still gaining ground against other majors today, heading higher as optimism remains from yesterday’s ECB announcement and Mario Draghi’s enthusiastic comments. Even though risk appetite is fading in some other markets (equities are struggling), the euro is heading a little bit higher.

Rupee Suffers on EU Summit & Poor Prospects for India’s Growth

The Indian rupee dropped today as a disagreement for the European leaders about a way to tackle the debt problems lead to risk aversion sentiment on the Forex market that hurt riskier currencies of emerging markets. Still, the currency managed to rebound at present.

Euro Struggles, Even on Possibility of Firewall Boost

Euro is struggling today after seeing some earlier gains. Some of the risk appetite from earlier has been erased, replaced by continued concerns about the eurozone. Even an Italian bond sale and a budget in Spain can’t completely stave off the worries about what’s next.

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