The Chinese yuan is adding to its strong start to 2021 against the US dollar on Tuesday. The yuan, which has been one of the top-performing currencies in foreign exchange markets over the last eight months, is finding support on policy support stabilization, highlighting that officials are confident that the recovery is occurring at a good pace. Although policymakers have indicated they will allow the yuan to appreciate, investors are wondering […]
The Australian dollar fell today together with other commodity currencies as investors were more interested in safer currencies, like the US dollar and the Japanese yen (but not the Swiss franc). That suggests that markets were in a risk-off mode, and the decline of European stocks during Monday’s trading session also implied that it was the case. The Aussie was attempting to rebound, getting support from better-than-expected macroeconomic releases in Australia […]
The Canadian dollar is kicking off 2021 with a bang against the US dollar as the currency broke the 1.27 mark on Tuesday. The loonie is mostly benefiting from rallying energy prices and a recovery in the manufacturing sector. How much room for growth will there be this year? Should the greenback maintain its downward trend and oil prices extend their gains into 2021, the loonie could have a bullish year.
The Russian ruble is continuing to pare its gains from the last month amid mixed economic data. But experts think that Russia will begin to recover next year, joining the rebound in the broader global economy. With a commodities boom, could Moscow see a dramatic resurgence over the next 12 to 18 months?
The British pound sterling advanced to its highest level against the US dollar in more than two years, driven by a weakening greenback and lower-than-expected inflation. The currency is also finding support on growing odds of a Brexit trade deal after officials stated that both sides are creating a path to establishing an agreement.
The Canadian dollar weakened against its US peer to close out the trading week, with energy prices and producer prices coming into focus. The loonie is still on track to record a modest weekly gain against the greenback, but its overall 2020 performance in the foreign exchange markets has been remarkable.
The US dollar is struggling to hold onto its weekly gain against some of its key currency pairs as the number of Americans filing for first-time unemployment benefits surged to its highest level since September. Higher inflation and fiscal stimulus negotiations stuck at a standstill weighed on the greenback. How much more room is there for the buck to fall to wind down 2020?
The US dollar firmed by the end of Wednesday’s trading session, trimming losses against some peers and erasing them completely against others. Market analysts pointed at the slump of the US stock market as the likely reason for the recovery of the greenback.
The New Zealand dollar was trading in the green today, rising against the majority of most-traded currencies, except for the Australian dollar and the Great Britain pound. The kiwi rallied because the market sentiment seemed to favor riskier currencies. Domestic macroeconomic data was positive, while reports in China, New Zealand’s biggest trading partner, were mixed.
The Turkish lira is rallying against some of its major currency peers on Thursday, despite concerning macro data that could further force locals to scoop up more US dollars. The lira has staged a significant rebound over the last month as financial markets showcase their confidence in the nation’s push to a more orthodox monetary policy. But the resurgence in the lira has enabled the locals to scoop up dollars, highlighting that […]
