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Euro Falls Despite Upbeat Euro Area Inflation Reports and Flash PMIs

The euro fell against the dollar despite a slate of positive inflation reports from Germany and Italy as investors sold the single currency. The EUR/USD currency pair fell to its daily lows in the early European session and traded sideways for the rest of the day.

Chinese Yuan Rises Slightly amid Disappointing Manufacturing PMI

The Chinese yuan is looking to kick off a new rally against its US peer following a quiet February that saw the USD/CNY currency pair flatline. But disappointing economic data could limit the yuan’s rise as financial markets start March. Is the Chinese economic recovery slowing down, or is this a blip on the radar?

USD/INR Rises Despite India’s Economy Exiting a Technical Recession

The Indian rupee joined the selloff in the broader emerging market currencies, testing 74.00 against its US peer at the end of the trading week. Although India has exited a technical recession, the rupee has slumped in the first two months of the calendar year, with investors continuing to pour into conventional safe-haven assets, such as the greenback and the Swiss franc.

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.

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