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Euro Spikes Higher on Dovish Fed Comments Before FOMC Minutes

The euro today spiked higher in the early American session following dovish comments by Atlanta Fed President Raphael Bostic, which drove the US dollar lower. The EUR/USD currency was range bound for most of today’s session despite the release of several macro prints from across the eurozone.

Euro Drops on Weak PMI and CPI Data, Trades Sideways Before NFP

The euro today largely traded sideways against the US dollar following yesterday’s significant recovery from lows last witnessed in mid-December. However, despite the recovery, analysts are still predicting that the euro is likely to be in a bearish trend for most of January.

US Dollar Resumes Decline After Bouncing on FOMC Projections

The US dollar was moving lower ahead of the policy meeting of the Federal Open Market Committee but bounced sharply afterwards. Yet coming into the Thursday’s Asian session, the currency resumed its decline.

Australian Dollar Trades Lower After China’s Data Misses Expectations

The Australian dollar declined today after China released a bunch of macroeconomic indicators, some of which missed expectations. China is Australia’s biggest trading partner, making its economic well-being very important for the Australian economy and currency.

British Pound Hits New Yearly Lows on Brexit News and Political Uncertainty

The British pound today dropped to new yearly lows in the American session after European Union officials insisted that they would not reopen Brexit negotiations. The pound made an about-turn after rallying higher in the early European session on positive Brexit news from Ireland regarding the Irish backstop amid positive UK jobs data.

Canadian Dollar Rallies on Upbeat Canadian Jobs Data Amid Weak NFP Data

The Canadian dollar today rallied higher against its US counterpart following the release of upbeat Canadian jobs data, versus the disappointing US nonfarm payrolls data. The USD/CAD dropped to new weekly lows on the jobs data as well as the higher global crude oil prices, which also favored the loonie.

Euro Declines on Weak Eurozone Data, Later Rallies on Weak US Data

The euro today fell from Asian session highs in the early European session following the release of mixed macro data from across the euro area. The EUR/USD currency pair later rallied higher in the mid-European session as market risk sentiment improved before heading lower in the American session.

USD/CAD Pair Trades in a Range for the Fourth Consecutive Session

The USD/CAD currency pair today traded in a consolidative range extending a trend that has been going on since the start of the week. The currency pair has been range bound despite the commodity-linked loonie being relatively weak due to the massive drop in global crude oil prices as tracked by the West Texas Intermediate.

Aussie Reacts Negatively to China’s Disappointing Retail Sales

The Australian dollar attempted to rally during the Wednesday’s trading session but fell later. Some market analysts attributed the decline to the worse-than-expected retail sales in China. China’s macroeconomic data often has strong impact on the Australian currency because China is Australia’s biggest trading partner. Economic reports released in Australia itself over the current session were good.

Pound Rallies on Brexit Hopes, Declines on Mixed UK Jobs Data

The British pound today rallied higher and recovered from a 3-day losing streak as investors hoped for a breakthrough in Brexit negotiations. However, the lack of any tangible progress in the Brexit proceedings and the mixed UK jobs report released today stalled the cable’s rally.

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