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Icelandic Krona Crashes As Wow Air Bankruptcy Triggers Recession

The Icelandic krona is continuing its slide against a basket of currencies midweek as the bankruptcy of a budget airline has triggered a recession, prompting the central bank to spring into action. The latest financial crisis comes roughly a decade since the island nation was on the brink of insolvency following the collapse of several major banks that contributed to the global catastrophe.

Chinese Yuan Strengthens As Beijing Talks Up Currency

The Chinese yuan is strengthening on Tuesday as the federal government continues to talk up the currency, despite bearish sentiment from foreign investors surrounding the world’s second-largest economy. As the US-China trade war escalates, there are fears that not only will the Chinese economy continue to spiral downwards, but also the global economy will contract. 

US Dollar Ends Week Mixed on Dovish Fed, Fears of Recession

The US dollar ended the past trading week mixed, gaining on some currencies and falling versus others. While the unexpectedly dovish Federal Reserve hurt the currency strongly, it had some support from risk aversion. The same risk-off sentiment made other safe-haven currencies, like the Japanese yen and the Swiss franc, clear winners for the week.

Japanese Yen Weakens on Machine Tool Data, Business Sentiment

The Japanese yen is weakening against major currencies on Tuesday, driven by poor economic data and bearish business sentiment. While officials have dismissed concerns of an economic contraction, the market is signaling that a recession is nigh, which could only intensify in a cooling global economy and trade war.

Japanese Yen Surges Despite Fears of Recession

The Japanese yen is rallying against a basket of currencies towards the end of the trading week, despite fears that the latest data might be signaling that Tokyo is in a recession. This has the central bank calling for additional stimulus should the national economy fall even further, which is applying more pressure on the federal government ahead of the important US-Japan trade talks.

US Dollar Rivals Benefit From Bearish Data

The US dollar is weakening against a basket of currencies to start the trading week. The dollar’s main rivals are benefiting from bearish economic data, as well as renewed risk appetite on reports of “substantial progress” in US-China trade negotiations. In the background is a survey of economist that finds many expect a recession soon.

Japanese Yen Unfazed by Fake News Scandal, Recession Risks

The Japanese yen is modestly strengthening against a basket of currencies on Tuesday, despite a fake news data scandal hitting Tokyo and economists increasing the odds of a recession hitting the world’s third-largest economy.

Canadian Dollar Strengthens As BOC Weighs Rate Hike

The Canadian dollar is strengthening against its US counterpart as the central bank hinted that a rate hike is on the table, but it depends entirely on economic data – both at home and abroad. The loonie has improved against the greenback so far this year, despite the Bank of Canada (BOC) taking a wait-and-see approach on interest rates. Rising crude oil prices are also helping lift the currency to finish off […]

Disappointing Economic Data Weighs on Euro

Euro is heading lower today, thanks in large part to the disappointing economic data released earlier. Also impacting the euro is the geopolitical situation, which brings with it a great deal of uncertainty right now.

Euro on Track to be a Top Performer for 2013

Euro continues on track to be the top performer of 2013 with today’s performance. Much of that has to do with the fact the issues that have been plaguing the 17-nation currency region — from recession to political problems — are mostly resolved. Or at least have been moved to the back burner. For now, the euro continues to see mostly gains against its major counterparts.

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