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USD/CNY Flat amid Broad Financial Market Slide, PBoC Tightening

The Chinese yuan traded relatively flat against its US peer on Tuesday as global financial markets are bleeding red ink for the second straight session. While the yuan has advanced to kick off 2021, the momentum in its rally has subsided, with the USD/CNY currency pair flatlining in February. Will the yuan target 6.4 or 6.5 against the greenback?

US Dollar Falls amid Risk Appetite, Positive Data Doesn’t Help

The US dollar fell along with other safe-haven currencies, like the Swiss franc and the Japanese yen, as the market sentiment favored riskier currencies linked to growth. In fact, the Swissie was the only currency that fared worse than the greenback as the dollar fell even versus the yen, though it has been trying to rebound versus the euro too at the time of writing. Domestic macroeconomic data was favorable to the US currency but had […]

Australian Dollar Strongest, Reaches Multi-Year Highs Despite Negative Economic Releases

The Australian dollar traded as the strongest currency on the Forex market today as the market sentiment favored riskier commodity-geared currencies. That is despite Australia’s macroeconomic reports, which were rather bad.

USD/JPY Falls As BoJ Promises Monetary Policy Review Amid Recovery

The Japanese yen strengthened against its US counterpart to finish the trading week amid reports that the central bank is reconsidering loose monetary policy to spur economic growth. This comes as the Bank of Japan (BoJ) conceded that the world’s third-largest economy is recovering and returning to pre-pandemic levels.

Euro Rallies Against Dollar on Upbeat German PPI, and Eurozone PMIs

Today, the euro rallied higher against the much weaker dollar, extending yesterday’s gains buoyed by the positive euro area PMI reports released by Markit Economics. The EUR/USD currency pair rallied higher as investor sentiment towards the single currency turned bullish, boosted by the region’s improved COVID-19 vaccine rollout.

Euro Forecast for February 15-19, 2021

The euro started the trading week on a weak footing, falling against many of its most-traded counterparts. The EUR/USD currency pair has been trading about flat. What can traders expect from the EUR/USD pair and the euro in general during the rest of the trading week?

New Zealand Dollar Soft After Services Sector Demonstrates Accelerating Contraction

The New Zealand dollar was rather soft today, opening sharply lower and struggling to regain its footing. That is despite the market sentiment that was supportive of riskier currencies linked to commodities, such as the New Zealand dollar. Domestic macroeconomic data was negative for the kiwi.

NZ Dollar Weakest Despite Strong Economic Data

The New Zealand dollar was extremely weak today despite positive domestic macroeconomic data. In fact, the kiwi fell against all of its most-traded rivals. Furthermore, the New Zealand currency was one of the weakest for the week.

Chinese Yuan Rises As PBoC Injects Liquidity Ahead of Lunar New Year Holiday

The Chinese yuan is recording a modest gain against its US peer to start the trading week. The yuan is finding support on larger-than-expected foreign exchange reserves, as well as the central bank injecting more liquidity into the financial system. The yuan has maintained its bull run from 2020 as the currency could break below 6.45 against the greenback amid its year-to-date 1% rally.

Australian Dollar Recovers After Starting Trading With Losses

The Australian dollar started Friday’s trading with losses but has recovered by the time of writing. Analysts considered the market sentiment to be positive for riskier currencies, especially after some major US stock indices reached new record highs on Thursday. Australian macroeconomic data released during Friday’s trading session was mixed but no report was outright disastrous.

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