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Chinese Yuan Slides As Q4 GDP Falls Short of Estimates

The Chinese yuan weakened against its US currency rival to start the trading week as economic growth fell below market expectations. Despite the gross domestic product (GDP) falling short of fourth-quarter estimates, the world’s second-largest economy expanded by more than 2% in 2020 as the rest of the world suffered significant damage amid the coronavirus pandemic. But it was not enough to lift the yuan.

Euro Plunges Against Dollar on Weak Eurozone Trade Balance Data

The euro today fell against the resurgent dollar following yesterday’s speech by Jerome Powell saying that it was too early to consider tapering of the Fed’s bond-buying program. The EUR/USD currency pair’s decline was also supported by the recent dovish comments from European Central Bank officials regarding the euro’s exchange rate.

Euro Edges Higher Against Dollar Reversing 3-Day Slump on Upbeat Mood

The euro today inched higher against the US dollar reversing a 3-day downtrend fueled by the positive investor sentiment but posted slight gains. The EUR/USD currency pair ended up trading largely sideways albeit with a bullish bias amid rising coronavirus cases as euro area countries extend lockdowns.

Pound Firms as BoE Members Comment on Negative Interest Rates

The Great Britain pound rallied today, trading as the strongest major currency on the Forex market. Analysts explained the rally by comments from central bank’s officials regarding the outlook for negative interest rates.

Australian Dollar Follows Other Commodity Currencies in Decline, Tries to Rebound

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 […]

Euro Falls Against Resurgent Dollar on Weak Inflation and Retail Sales Data

Today, the euro fell against the resurgent dollar amid rising US Treasury yields that boosted the world’s reserve currency despite the turbulent American politics. The EUR/USD currency pair’s decline was also fueled by the disappointing inflation data coming out of the eurozone, causing investors to sell the euro.

Euro Rallies As Investors Turn Bullish on US Data, Georgia Election

The euro today rallied higher against the dollar during the American session boosted by positive US releases, a weak dollar and bullish investor sentiment. The EUR/USD currency pair had traded in a tight range earlier in the day despite positive euro area releases including the upbeat German retail data.

USD/RUB Rises Amid Mixed Economic Data, Wheat Taxes

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?

Canadian Dollar Plunges Despite Upbeat Retail Sales, Rising Oil Prices

The Canadian dollar today continued to lose ground against its US neighbour driven by the risk-off market sentiment, which favoured the safe-haven greenback. The USD/CAD currency pair rallied higher reversing yesterday’s losses as investors flocked ignored rising oil prices, causing the commodity-linked loonie to fall.

Pound Falls on Brexit Uncertainty As Talks Reach Critical Phase

The Sterling pound today fell against the dollar buffeted by Brexit headlines with both sides are working on getting a deal but preparing for a no-deal Brexit scenario. The GBP/USD currency pair completely ignored the release of the upbeat UK retail sales report as Brexit news remained the dominant factor fueling the pair’s price.

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