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Canadian Dollar Flat As Oil Slumps, Manufacturing Rebounds

The Canadian dollar is trading flat against its G10 currency rivals at the end of the holiday-shortened trading week. The loonie has been gaining against several of its counterparts over the last week, despite an influx of disappointing economic data. With energy prices firmly rebounding and the investors selling the US dollar, could the Canadian dollar have a strong second half?

US Dollar Stalls As Economy Creates 4.8 Million Jobs in June, Factory Orders Surge

The US dollar is stalling against many of its G10 currency rivals on Thursday after a strong and better-than-expected June jobs report. The stellar labor reading sparked a rally in the stock market, raising the risk tolerance of traders in equities. After the last couple of weeks of investors being spooked by a resurgence in coronavirus cases, the millions of new jobs suspended these fears for now.

Euro Rallies Higher Against Weak Dollar As Europe Slowly Reopens

The euro today rallied higher against the much weaker US dollar boosted by positive investor sentiment as US indices posted gains triggering a selloff of the greenback. The EUR/USD currency pair today fell earlier in the session as the dollar traded in positive territory, but this changed later as investor risk appetite grew.

British Pound Falls on UK GDP Data Miss Then Bounces to New Highs

The Sterling pound today fell briefly after the release of the latest UK GDP data early London, but quickly recovered as other prints came in better than expected. The GBP/USD currency pair rallied to new highs after investors digested the multiple macro releases from the UK docket, one of which beat analysts estimates.

Euro Rallies Against Weak Dollar Driven by Positive Sentiment

The euro today spiked higher against the US dollar in the early American session driven by upbeat investor sentiment even as European equity markets closed lower today. The EUR/USD currency pair today rallied higher boosted by mixed data from the eurozone and the weaker greenback, which saw other major currencies post gains at its expense.

Australian Dollar Strongest amid Risk Appetite, Traders Wait for NFP

The Australian dollar was the strongest currency on the Forex market today, rising to multi-month highs, amid risk appetite that returned to markets. Other riskier currencies were strong as well while safer ones were on the defensive. Traders wait for US nonfarm payrolls due for release at 12:30 GMT.

US Dollar Rises As First-Time Jobless Claims Dip Below Two Million

The US dollar is strengthening against its G10 currency rivals on Thursday after the federal government reported that the number of Americans filing for unemployment benefits came in below two million for the first time in 12 weeks. This adds further evidence that the job-loss trend peaked and that the US economy is likely emerging from the doldrums of the coronavirus pandemic.

NZ Dollar Climbs on Record Trade Surplus, Positive Market Sentiment

The New Zealand dollar climbed against all other most-traded peers today thanks to the relatively positive domestic macroeconomic data and the market sentiment that was supportive of riskier currencies.

Euro Spikes Then Falls Against Dollar on Day Full of Macro Releases

The euro today rallied to new daily highs against the US dollar after the release of weak US data, but the single currency later gave up its gains. The EUR/USD currency pair fell after the release of upbeat US consumer sentiment data, which surprised investors causing the pair to sell-off.

Pound Spikes Higher as UK GDP Beats Estimates Despite COVID-19

The Sterling pound today spiked higher against the US dollar after the release of multiple positive UK fundamental reports including positive GDP data earlier today. The GBP/USD currency pair rallied higher as investors reacted to the positive reports, which indicated that the British economy fared surprisingly better than expected during Q1 2020.

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