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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.

US Dollar Falls Amid Record 3.28 Million Initial Jobless Claims

The US dollar is sliding against multiple currency rivals on Thursday, but it is holding relatively steady. This might come as a surprise for market observers because the greenback and the broader financial market should be in freefall following record-breaking jobs numbers. It is the opposite.

US Dollar Rallies As Market Turmoil Spurs Safe-Haven Demand

The US dollar is rallying against several major currency rivals at the end of the trading week, driven by the financial market turmoil that has spurred safe-haven demand for the greenback. While the global coronavirus outbreak has dominated the business headlines, positive economic data is adding to the buck’s gains on Friday.

Canadian Dollar Falls on Weak Oil Prices, Spikes On In-Line GDP Data

The Canadian dollar today extended its losses against the US dollar for the third consecutive day as global crude oil prices fell to lows last seen in December 2018. The Commodity-linked loonie’s performance was boosted slightly by the Canadian GDP data, but the risk-off market sentiment created by the Chinese coronavirus headlines hindered its rally.

US Dollar Mixed As Economy Grew 2.1% in Q4, Coronavirus Threatens Q1

The US dollar is mixed on Thursday as the economy grew at a modest clip in the fourth quarter and traders are fleeing to safe-haven assets amid market turmoil. But investors are concerned that the coronavirus could significantly impact first-quarter gross domestic product (GDP), and do a lot more damage to the world’s largest economy.

Euro Crashes on Mixed Eurozone Reports and Upbeat US Prints

The euro today crashed against the US dollar following the release of mixed data from the euro area as market sentiment remained decisively bearish. The EUR/USD currency pair fell to new 1-week lows in the American session following the release of upbeat US Q3 GDP data.

US Dollar Spikes on Higher Q3 GDP Reading

The US dollar enjoyed a spike against several currency rivals at the end of the trading week, driven primarily by a higher final reading of the gross domestic product in the third quarter. The buck was further lifted on a decline in the cost of manufacturing goods consumed at home and exported to foreign markets.

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