PPI — News Archive

The Australian dollar fell against other major currencies today due to poor macroeconomic data in Australia as well as its biggest trading partner — China.

The Japanese yen rallied against its most-traded rivals today despite mixed domestic macroeconomic data and the positive general market sentiment.

The Canadian dollar today rallied against its US counterpart despite the release of weak Canadian building permits data by Statistics Canada driving the USD/CAD currency pair to 6-week lows. The release of positive US Producer Price Index data could not reverse the currency pair’s downtrend due to positive investor sentiment towards the loonie.

The Japanese yen fell against its rivals intraday as the market sentiment was improving. While the currency retained its losses versus the US dollar, the yen has managed to erase the drop against most other peers by now. As for Japan’s macroeconomic data, it was somewhat mixed today.

The Japanese yen slumped against basically all most-traded currencies today. At the present time, it is hard to say whether it is because of the poor macroeconomic data or the political scandal.

The euro was trading mostly higher today (though not against the extremely strong Japanese yen) even as domestic macroeconomic data was mixed and the general sentiment on the Forex market was in favor of safer currencies.

The New Zealand dollar behaved similarly to its Australian counterpart, rising at the start of today’s session, slumping afterwards, but recovering later. As a result, the kiwi maintained gains versus some of its rivals, though was unable to hold ground against the US dollar.

The EUR/USD currency pair today traded sideways by rallying higher in the late Asian session and early European session before heading lower. The currency pair declined despite speeches from European Central Bank members, but later rallied higher on mixed US data.

The New Zealand dollar fell today following the release of reports that showed slower growth of both consumer and producer prices in China, New Zealand’s biggest trading partner. Yet the currency managed to bounce and is now trading either at or above the opening levels versus its most-traded rivals.

The Australian dollar declined against its major rivals today despite a positive economic report released in Australia during the current trading session.