The euro today fell from almost 7-week highs against the greenback triggered by weak US employment data following the release of upbeat US services PMI data. The EUR/USD currency pair rallied to the new highs driven by upbeat market sentiment and disappointing US ADP employment change report before falling to new lows.
As many other currencies, the Australian dollar was soft today due to risk aversion caused by escalating US trade wars. Poor China’s macroeconomic data was not helping to improve the traders’ mood either.
The euro today rallied from multi-year lows in the American session after key US data disappointed and US Treasury yields dropped to multi-year lows. The EUR/USD currency pair had fallen to lows last seen in May 2017 following the release of multiple weak releases from Germany and the eurozone earlier today.
The euro today traded in a tight range against the US dollar despite the release of upbeat services PMI data from across the euro area by IHS Markit. The EUR/USD currency pair was weighed down by the risk-off market sentiment triggered by President Donald Trump‘s threat of additional tariffs on Chinese imports over the weekend.
The Australian dollar fell intraday but has recovered by now as markets were waiting for US nonfarm payrolls. Meanwhile, macroeconomic data in Australia was not good, which can explain the initial fall of the currency.
The Australian dollar demonstrated the same performance as its New Zealand counterpart — rising a bit today after yesterday’s big slump. Unlike the kiwi though, the Aussie did not have negative domestic economic data to explain the decline. Perhaps, the currency continued to fall after disappointing macroeconomic releases in China on Tuesday. Update: currently, the Aussie has lost its gains.
The Australian dollar was mixed today despite extremely positive employment data. Other macroeconomic reports released in Australia during the Thursday’s trading session were less stellar.
The euro today fell to new weekly lows against the US dollar following the release of disappointing German manufacturing PMI by IHS Markit earlier today. The EUR/USD currency pair fell to new lows after PMI data indicated that the euro area manufacturing sector was still contracting at a fast rate.
The euro today rallied higher against the US dollar in the early European session following the release of upbeat PMI data from across the eurozone by IHS Markit. The EUR/USD currency pair later rallied higher in the American session following the release of weak US ADP employment data and a weak US dollar.
The Great Britain pound gained on most other major currencies today as British Prime Minister Theresa May was meeting with opposition Labour leader Jeremy Corbyn.
