The Sterling pound today fell to its daily lows early in the London session following the release of weak UK services PMI data for September by IHS Markit. The GBP/USD currency pair later rallied higher as British leaders expressed their support for the new Brexit proposals submitted yesterday by Boris Johnson‘s administration.
The euro today fell to its daily lows early in the European session amid a flurry of disappointing services PMI releases from across the euro area by IHS Markit. The EUR/USD currency pair late recovered and rallied to its daily highs after the US ISM non-manufacturing PMI fell to multi-year lows.
The Australian dollar was trading in the green during Thursday’s trading session. The trade data released in Australia today was unimpressive but that did not prevent the currency from rebounding after Tuesday’s big slump.
The Japanese yen was soft today following domestic macroeconomic releases. The data showed that the nation’s manufacturing sector was in bad shape. At the same time, unemployment remained extremely low, defying forecasts of an increase.
The New Zealand dollar dropped today, touching the lowest level in four years versus its US counterpart. The currency was dragged down by poor domestic macroeconomic data and the general risk-off sentiment on the Forex market. A positive report about China’s manufacturing sector limited the downside momentum, though.
The Japanese yen fell today amid the improving market sentiment, poor domestic macroeconomic data, and the negative outlook for monetary policy. But the losses were extremely small, perhaps due to some good news about the US-Japan trade negotiations.
The week started seemingly bad for the Australian dollar as fundamentals looked rather unfavorable to the currency. Some of the domestic macroeconomic indicators released on Monday were bad, and there was troubling news about China-US trade negotiations. But the Aussie did not perform particularly poorly and even managed to gain on some major rivals.
The euro today crashed from its daily highs in the American session following the release of the upbeat US ISM non-manufacturing PMI among other positive US releases. The EUR/USD currency pair had rallied to its daily highs in the early European session driven by the news that US-China trade talks are set to resume next month.
The Brazilian real gained on the US dollar today. And while the greenback was soft by itself, domestic macroeconomic data also helped Brazil’s currency.
The euro today rallied higher following comments made by Christine Lagarde who has been nominated to head the European Central Bank. The EUR/USD currency pair today extended yesterday’s recovery as the US dollar remained on the back foot due to weak American releases.
