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Euro Hits 8-Week Highs on Investor Optimism, Later Falls Then Rallies

The euro today rallied to new 8-week highs against the US dollar as the bullish sentiment carried over from yesterday’s rally before reversing course and heading lower. The EUR/USD currency pair later fell amid fears of an escalation in US-China trade tensions that could trigger a new trade war before reversing course and heading higher.

NZ Dollar Weakest Among Brewing US-China Trade War

The New Zealand dollar was the weakest among the most-traded currencies on the Forex market today. While domestic macroeconomic data could have played a part in the decline, market analysts speculated that the major reason for the drop was the brewing trade war between the United States and China.

Chinese Yuan Slumps Despite Surprising Gain in Auto Sales

The Chinese yuan is slumping to kick off the trading week, despite a surprise gain in new motor vehicle sales last month. Investors are potentially keeping an eye on internal financing struggles and concerns over a renewed trade war between the two largest economies. Despite the coronavirus pandemic shutting down China, the yuan has only recorded modest losses against the US dollar. If the data improves, could the currency test […]

Japanese Yen Rallies Against US Dollar on Safe Haven Flows

The Japanese yen today rallied against the US dollar driven by the risk-off market sentiment, which saw the yen benefit from safe-haven flows. The USD/JPY currency pair fell to new multi-week lows as the yen kept making gains against the greenback despite the DXY’s gains.

Sterling Remains Strongest After CBI Manufacturing Report

The Great Britain pound continued to be the strongest currency on the Forex market thanks to domestic macroeconomic data. Today, a manufacturing report from the Confederation of British Industry was the reason for the sterling’s amazing performance.

Euro Drops on Trade War Fears, Rallies on Mixed US Inflation

The euro today fell against the US dollar in a risk-off market environment as investor fears about an escalation in the US-China trade war dominated the markets. The EUR/USD currency pair recovered in the American session due to the greenback’s weakness despite the release of in-line US inflation data.

Pound Holds On to Gains 2 Days Ahead of the General Elections

The British pound today held on to yesterday’s gains against the US dollar two days ahead of Thursday’s elections with opinion polls predicting a win by the Conservative Party. The GBP/USD currency pair today rose to 8-month highs as investor optimism about Britain’s future including Brexit remained high.

Euro Sidelined on Trump-Macron Spat Amid US-China Trade Worries

The euro today appeared to cool off against the US dollar following yesterday’s massive rally that saw the EUR/USD currency pair breach the 1.1080 level as the greenback fell. The currency pair today traded sideways alternating between gains and losses amid a lack of significant releases from the European dockets.

Pound Falls as Corbyn Narrows Johnson’s Lead Following Debate

The Sterling pound today continued to fall against the US dollar as Boris Johnson‘s ratings fell following yesterday’s public debate against Jermy Corbyn. The GBP/USD currency pair dropped as investors remained concerned about Corbyn’s rising popularity, which could lead to a hung Parliament after the elections.

US Dollar Mixed on October Retail Sales, Manufacturing Index

The US dollar is struggling to find direction against multiple currency rivals at the end of the trading week. The greenback is trading sideways after new retail sales, manufacturing, and trade data showed a mixed portrait of the national economy last month.

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