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NZ Dollar Unable to Keep Gains Caused by Chinese Economic Reports

The New Zealand dollar rallied intraday despite underwhelming domestic macroeconomic data. One of the possible reasons for the rally was macroeconomic data in China, which showed that the economic growth of the Asian nation stabilized in the last quarter of 2019. Currently, though, the New Zealand currency has lost its gains versus most rivals, except for European majors. The kiwi was trading about flat against the euro and the Great Britain pound.

Australian Dollar Rebounds as Market Sentiment Calms Down

The Australian dollar fell intraday amid risk aversion caused by Iran’s missile attack on US military bases. But by now, the Aussie has managed to recover as investors continued to hope that the conflict will not result in a full-blown war. Currently, the Australian currency is trading about flat against most of its peers, though managed to gain on the euro and the Japanese yen. Domestic macroeconomic data was mixed, but building permits, […]

Euro Falls on Middle East Tensions, Ignores Upbeat Eurozone Data

The euro today fell against the much stronger US dollar amid heightened political tensions in the Middle East as investors bought the safe-haven greenback. The EUR/USD currency pair was on a downward spiral from the start of the session ignoring upbeat eurozone releases, which accelerated after the release of upbeat US data.

Franc Mixed as Market Sentiment Stabilizes, Domestic Data Supports

The Swiss franc was mixed today, rising against some currencies, staying flat versus others, and crashing against the US dollar and the Japanese yen. The market sentiment was stabilizing following yesterday’s risk aversion, limiting the appeal of safe currencies. Domestic macroeconomic data was positive and helpful to the Swissie.

US Dollar Rallies As Trade Deficit Sinks to Three-Year Low

The US dollar is gaining momentum on Tuesday as new data revealed that the trade deficit fell to its lowest level in more than three years in November. With the US and Iran conflict potentially peaking, investors are gradually returning to equities and the greenback, which is evident in the slump in crude oil prices. A better-than-expected reading in the purchasing managers’ indexes (PMIs) also enhanced the buck’s strength.

Macroeconomic Data Makes Aussie Fall for Third Straight Session

The Australian dollar declined against all of its most-traded peers today despite the stabilizing market sentiment that was helping riskier currencies linked to commodities. The Aussie fell for third consecutive trading session versus most of its rivals, while against some it posted even a longer stretch of declines. Macroeconomic data was negative to the currency.

Japanese Yen Rises, Gains Limited by Lack of Demand for Safe Haven

The Japanese yen traded either flat or higher against other most-traded currencies today, but gains were nowhere near enough to reverse yesterday’s losses. Markets calmed down after a bout of fear caused by escalating tensions in the Middle East, limiting demand for safe-haven currencies.

US Dollar Unable to Find Support From Strong PMI Readings

The US dollar is tumbling to kick off the trading week, despite strong data that should support the greenback. The buck might be continuing its fourth-quarter reversal that saw the currency pare most of its stellar gains from the first nine months of 2019. Investors could be cautious due to swelling US-Iran tensions, which have also somewhat seeped into global financial markets.

Euro Rallies on German Retail Sales and Euro Area PMIs, Later Falls

The euro today rallied higher against the US dollar in the early European session following the release of upbeat German retail sales data and euro area PMIs. The EUR/USD currency pair later fell as the greenback rallied amid rising US-Iran tensions and the release of upbeat US PMI data by Markit Economics.

US Dollar Sideways as Key Manufacturing Index Slumps to 10-Year Low

The US dollar is trading sideways at the end of the trading week as the manufacturing sector continues to slump at a decade-low. Can the manufacturing industry turn things around in 2020 as the US and China gradually wind down their 18-month trade dispute? From trade certainty to the White House’s aim for a weak dollar policy, American manufacturers may have a rebound year.

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