The South African rand dropped today, touching the lowest level since June 2016 against the US dollar, after the nation’s economy entered recession unexpectedly. South Africa’s gross domestic product fell 0.7% in the June quarter on a seasonally adjusted annualized basis. Market participants …
The Canadian dollar stumbled to its lowest level in six weeks on Tuesday after President Donald Trump suggested that it is not necessary to keep Canada in a new trade deal, a remark that comes a week after reaching an agreement with Mexico. The loonie will …
The British pound today dropped to new lows extending yesterday’s decline following the release of disappointing UK construction data earlier today. The GBP/USD currency pair later rallied higher following the testimony by the Bank of England Governor before the UK parliament where he promised to help …
The Swiss franc was rather soft during Tuesday’s trading despite today’s macroeconomic data, which showed that Switzerland’s consumer prices were stable last month. Swiss Federal Statistics Office reported that the Consumer Price Index was unchanged in August from …
The Australian dollar attempted to hold its ground after the policy meeting of the Reserve Bank of Australia but failed and is now trading below the opening level. The worse-than-expected current account balance added to the downside momentum of the currency. The RBA kept its main interest rate unchanged …
The British pound today fell to new lows against the US dollar based on the uncertainty surrounding the Brexit negotiations as both the EU and the UK stick to their opposing positions. The GBP/USD currency also headed lower following the release of the latest UK manufacturing data, which revealed zero …
The Canadian dollar is sliding before the Labor Day long weekend as global trade concerns and disappointing gross domestic product (GDP) figures are weighing on the loonie. It will be difficult for the Canadian dollar to find direction until a trilateral trade deal with the US …
The Great Britain pound declined today due to the negative market sentiment and concerns that the United Kingdom will leave the European Union without securing a trade deal first. The sterling was heading to weekly gains, but will likely end August with the fifth consecutive …
The Japanese yen rallied today after the release of Japan’s inflation data, though there were bad reports as well. Perhaps what was even more important, the resurging fears of trade wars resulted in more demand for safer currencies, like the yen. Tokyo annual consumer …
The euro today declined against the US dollar amid growing fears regarding the risks posed by emerging markets and the trade war being spearheaded by the USA. The EUR/USD currency pair fell after the release of weak eurozone inflation figures and the Trump administration’s rejection of the EU’s offer on auto …