The British pound today extended its gains against the US dollar having opened lower following Saturday’s vote results mandating the government to ask for a Brexit extension. The GBP/USD currency pair recouped all its losses at traded slightly above Friday’s highs as investors waited for John Bercow to rule on the date for a meaningful Brexit vote.
The Chinese yuan is struggling against its major currency competitors on Tuesday as optimism over the first phase in the US-China trade deal diminishes. After initial celebration in financial markets, investors now have some consternation until a formal and written agreement is signed. The yuan was greater impacted by disappointing economic data.
The US dollar is sliding against many major currency rivals on Tuesday as domestic political turmoil and geopolitics are dominating the latter part of the trading session. In addition to President Donald Trump stating that he will not accept a bad trade agreement with China, news broke that House Speaker Nancy Pelosi plans to launch an impeachment inquiry to oust Trump from the White House before next year’s election.
The Australian dollar traded mildly higher today as the market sentiment improved slightly on positive news about US-China trade talks.
The US dollar is edging slightly higher on Thursday against several major currency rivals, driven by a potential de-escalation in US-China trade tensions and optimism over the upcoming August jobs numbers. The flurry of positive economic data also contributed to the greenback’s rebound.
The Chinese yuan is rallying midweek against some of its most traded currency rivals. Despite vehicle sales tumbling in June and inflation coming in lower than expected, the yuan is strengthening, which could be attributed to renewed trade negotiations between the world’s two largest economies.
The US dollar was mixed today, falling versus commodity currencies, but staying flat or gaining versus majors. There were plenty of various fundamentals that were affecting the greenback.
The Canadian dollar declined intraday as some of Canada’s inflation indicators missed expectations. But the currency rebounded later, ending the Wednesday’s trading session above the opening level.
The Chinese yuan traded broadly to kick off the trading week as the world’s second-largest economy finally received some positive economic news after more than a year of downbeat data and sentiment. Is China on the cusp of turning it around and kickstarting the economy?
The US dollar is trading mixed against some of its major currency rivals on Thursday as an influx of data is weighing on the greenback. With uncertainty surrounding the Federal Reserve, the market is unclear how to trade the buck in the short- to medium-term. But investors are snapping up billions in long-term bonds, signaling a bullish sentiment in the US economy.
