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Euro Rallies Against Dollar on Elevated Sentiment, Falls Then Rises

The euro today rallied against the US dollar twice followed by quick retracements despite the upbeat investor risk appetite that boosted risk assets. The EUR/USD currency pair today rallied then gave up all its gains before rallying again as the bulls and bears fought for control amid mixed euro area macro prints.

US Dollar Weakens As Jobless Claims Slide to Six-Month Low, Consumer Spending Jumps

The US dollar is kicking off October lower as the number of Americans filing for first-time unemployment benefits fell to a six-month low and consumers continued to show some signs of life in August. Still, the greenback is poised for a noteworthy weekly gain against many of its major currency rivals, buoyed by uncertainty in the broader financial markets.

US Dollar Mixed As GDP Beats Estimates, Fiscal Stimulus Hopes Rise

The US dollar is trading mixed against several currency counterparts midweek as investors focus more on economic data and fiscal stimulus instead of the first 2020 presidential debate between President Donald Trump and former Vice President Joe Biden. With growing confidence in the broader financial market, the greenback could face pressure in October, but electoral uncertainty might cap its decline.

Canadian Dollar Surges Against US Peer, Later falls on GDP Data

The Canadian dollar today surged against its US peer as the latter eas reeling from yesterday’s speech by the Fed Chair Jerome Powell, which unveiled a new inflation policy. The USD/CAD currency pair today fell for the fourth consecutive session to lows last seen in January as the greenback remained under intense selling pressure.

Pound Plunges to 4-Week Lows on Brexit Jitters, Rising COVID-19 Cases

The Sterling pound today fell to new 4-week lows against the US dollar given the empty UK docket and the prevailing risk-off market sentiment, which favoured the dollar. The greenback’s rally triggered the GBP/USD currency pair’s crash amid a confluence of negative factors that weighed on the pound, including fears of a no-deal Brexit.

US Dollar Unfazed by Trump’s WHO, China Announcements

The US dollar was unfazed by President Donald Trump’s press conference on Friday. Global financial markets were on edge as many speculated drastic actions would be taken by the administration regarding China over trade and the situation in Hong Kong. Instead, the announcements were just confirmations of previous reports about his response to the World Health Organization (WHO) and Beijing.

Canadian Dollar Weak Despite Upbeat Q1 GDP as US Dollar Rallies

The Canadian dollar today remained weak against the US dollar despite the release of upbeat Canadian GDP data in the early American session. The USD/CAD currency pair kept trading near the two and half month lows as investors waited patiently for Trump’s speech.

US Dollar Struggles for Direction on Jobless Claims, -5% GDP in Q1

The US dollar is struggling for direction on Thursday after a plethora of data provided a bearish portrait of the world’s largest economy. Initial jobless claims came in slightly worse than expected, while the gross domestic product (GDP) was revised downward for the first quarter. But financial markets were mostly positive in pre-market trading.

US Dollar Holds Steady As 30 Million Jobs Lost in Six Weeks

The US dollar is holding steady against a basket of currencies on Thursday after the federal government released the latest jobs numbers in the economic fallout of the coronavirus. In total, about 30 million Americans have lost their positions in just six weeks, and based on what the Federal Reserve stated on Wednesday, more economic pain is coming in the next couple of months.

Euro Falls After 4-Day Rally Amid Rising European Coronavirus Cases

The euro today fell against the US dollar as traders took their profits following  4-day rally marked by steady gains driven by positive investor sentiment. The EUR/USD currency pair headed lower as the greenback rallied higher amid rising coronavirus cases and deaths in Spain and Italy.

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