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Chinese Yuan Strengthens As Investors Pour Into Stocks, Bank Lending Up

The Chinese yuan is strengthening against many of its currency competitors to start the trading week. But while some economic data are boosting the currency on Monday, reports that investors are pouring into the stock market at the state media’s direction is generating all the buzz.

Canadian Dollar Flat As Oil Slumps, Manufacturing Rebounds

The Canadian dollar is trading flat against its G10 currency rivals at the end of the holiday-shortened trading week. The loonie has been gaining against several of its counterparts over the last week, despite an influx of disappointing economic data. With energy prices firmly rebounding and the investors selling the US dollar, could the Canadian dollar have a strong second half?

Aussie Beats Rivals with Help from Domestic & Chinese Economic Reports

The Australian dollar rose today. In fact, it was the strongest among most-traded currencies on the Forex market. The Aussie got a boost from positive macroeconomic data, both domestic and Chinese.

Indian Rupee Settles at Three-Month High on Foreign Inflows, Vaccine Hopes

The Indian rupee is settling at its best level against the US dollar in three months as foreign inflows and vaccine hopes elevated the currency. The rupee has been Asia’s worst-performing currency this year, driven primarily by the coronavirus pandemic and volatility in global financial markets. Could analysts’ forecasts of further appreciation in the second half of 2020 come true?

Pound Rallies on UK Manufacturing PMI and Positive Sentiment

The British pound today rallied higher against the US dollar extending yesterday’s positive momentum boosted by Boris Johnson‘s promises of more spending to boost the UK economy. The weak dollar also raised the GBP/USD currency pair as investors reacted to news that a potential coronavirus vaccine had shown positive results in early clinical trials.

Chinese Yuan Weakens Despite Strong PMI Readings, PBoC Stimulus

The Chinese yuan is weakening against the US dollar and other major currency rivals in the middle of the trading week. Global financial markets were pleased to learn that manufacturing and non-manufacturing activity has rebounded at a faster-than-expected clip over the last month, leading to optimism that China’s economic recovery is beginning to accelerate. With additional central bank stimulus can Beijing achieve growth in 2020?

Euro Falls on Upbeat Euro Area PMIs, Rallies on Upbeat US PMI Data

The euro today fell against the US dollar despite upbeat releases from German combined with positive euro area PMI data released by Markit Economics. The EUR/USD currency pair rallied higher after the release of upbeat US PMI data, which was surprising given that the print beat analysts expectations by a wide margin.

Chinese Yuan Flat As IMF Forecasts Economic Growth in 2020, 2021

The Chinese yuan is flat against most of its currency rivals at the end of the trading week, despite a new report that suggests China’s economy will buck the global trend and grow this year. China recently kickstarted its economic rebound, but early data indicators highlight that Beijing’s efforts are only producing a slow recovery.

Euro Advances on Upbeat Markit Flash PMIs and Positive Sentiment

The euro today rallied higher against the US dollar boosted by the improved investor risk appetite, which saw investors pile into riskier assets. The EUR/USD currency pair’s rally was also fueled by the positive PMI prints released by Markit Economics.

Japanese Yen Attempts to Hold Ground After PMI Releases, Concerns About US-China Trade Deal

The main theme for today was the release of PMI reports for various parts of the world, though the topic of the US-China trade deal was also in the news. Overall, markets were in a positive mood, favoring high-beta currencies. Surprisingly, that did not result in a total sell-off of the Japanese currency. The yen fared rather well, holding its ground against most of its rivals and even gaining on some of them.

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