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Mexican Peso Weakens As IMF Slashes Growth Estimates

The Mexican peso is weakening against several currencies on Thursday as the International Monetary Fund (IMF) cut its growth projections for the country. This comes as the unemployment rate fell last month to its lowest level in nearly two years and inflation came higher than expected.

Japanese Yen Rallies on Returning Fears of Coronavirus

The Japanese yen gained against most other major currencies today, with the exception of the Australian dollar, which got a boost from domestic employment data. The resurging fears about the spread of the coronavirus from China were the main driver for the yen’s rally. Domestic macroeconomic data was also supportive of the Japanese currency.

Swiss Franc Rises to Three-Year High After Addition to US Trade Watch List

The Swiss franc is continuing its streak of gains on Monday, despite recent allegations that Switzerland is manipulating its currency. The franc is also finding direction on the latest trade prices, which have fallen over the last 12 months as Switzerland suffers from global trade uncertainty. Will the franc remain a safe-haven currency moving forward?

Euro Rallies on Trade Deal Optimism and Hawkish ECB Strategic Review

The euro today rallied higher against the US dollar driven by upbeat investor risk sentiment in anticipation of the US-China phase one trade deal signing later today. The EUR/USD currency pair’s rally was also spurred by investor expectations that the European Central Bank could turn hawkish in the medium-term after a strategic review.

Chinese Yuan Weakens Despite Exports Beating Market Forecasts

The Chinese yuan is falling against several major currency competitors on Tuesday, despite positive trade data that suggest the US-China trade dispute winding down is proving already to be bullish for Beijing. The December numbers are beginning to roll in, and so far, it is good news for the world’s second-largest economy.

Euro Range-Bound as Selling Pressure Abates Despite USD Strength

The euro today traded sideways against the US dollar as the selling pressure abated as investors reacted to the calming of tensions between the US and Iran. The EUR/USD currency pair today attempted to rally unsuccessfully and was mostly stuck in slightly negative territory for most of today’s session despite upbeat German industrial data.

Australian Dollar Mixed After Positive Australian Data, Disappointing Chinese Reports

The Australian dollar gained on other commodity currencies but was mixed against other most-traded peers today. The market sentiment was calm and domestic macroeconomic data was helpful to the Aussie. But economic reports in China, Australia’s biggest trading partner, were not particularly impressive, weighing on the Aussie a bit.

Canadian Dollar Weakens on Falling Crude Prices, Disappointing Exports

The Canadian dollar is weakening against multiple currency rivals midweek as energy prices are hitting the loonie. President Donald Trump confirmed that Iran is “standing down” in the intense Middle East conflict, sending futures plunging. The loonie was also impacted by disappointing export data. Despite being one of the top-performing G20 currencies, the Canadian dollar has had a rough start to 2020.

Loonie Shows Good Performance Despite Adverse Fundamentals

The Canadian dollar fared rather well today, rising against other most-traded currencies or at least staying flat against them. The notable exceptions were the US dollar and the Japanese yen. Losses versus the strong greenback were especially big. But overall, the loonie showed a rather decent performance considering negative macroeconomic data and falling prices for crude oil.

Euro Falls on Middle East Tensions, Ignores Upbeat Eurozone Data

The euro today fell against the much stronger US dollar amid heightened political tensions in the Middle East as investors bought the safe-haven greenback. The EUR/USD currency pair was on a downward spiral from the start of the session ignoring upbeat eurozone releases, which accelerated after the release of upbeat US data.

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