The Chinese yuan fell to the lowest level in six months today amid worsening trade tensions between the United States and China, which led to risk aversion on the Forex market. Washington announced restrictions of Chinese investment in US in addition to the previously announced tariffs on Chinese goods — a move …
The euro today rallied slightly higher after the release of the German IFO business climate index for June, which matched expectations. The euro opened today’s session on a downtrend even as the selling pressure on the single currency increased due to the ongoing trade tensions between the US, China and the European …
The Canadian dollar ended the week soft, mainly due to risk aversion caused by the threat of trade wars. Underwhelming domestic macroeconomic data hurt the Canadian currency for a short while, but it recovered quickly. It looked like trade dispute between the United States and its …
The Canadian dollar today dropped drastically against the US dollar following the release of the latest Canadian Consumer Price Index data, which missed expectations by a huge margin. The loonie’s massive drop drove the USD/CAD currency pair to new 2018 highs as it was further accelerated …
The Japanese yen was in red against basically all other most-traded currencies today despite relatively positive domestic macroeconomic data. Some market analysts explained the weakness by rising global bond yields. Japan’s core Consumer Price Index rose 0.7% in May, year-on-year, …
The euro today rallied higher against the US dollar after finance ministers from across the Eurozone reached an agreement regarding Greece’s final bailout. The euro’s rally was further complemented by the release of positive PMI data from across the Eurozone by IHS Markit and in-line French …
The Canadian dollar fell against other most-traded currencies today, though managed to recover versus the US dollar by now. The currency was under pressure from a range of negative factors, including falling prices for crude oil, trade tensions with the United States, and underwhelming domestic …
The Swiss franc gained on most other major currencies, with the exception of the Great Britain pound, which got a boost from the relatively hawkish stance of the Bank of England. The outlook expressed by Switzerland’s own central bank was far less optimistic, but that did not …
The New Zealand dollar fell today after a report showed that the New Zealand economic growth slowed last quarter. The currency managed to trim losses by now, erasing them against the US dollar entirely. Statistics New Zealand reported that gross domestic product …
The British pound today rallied higher against the US dollar after the Bank of England announced its monetary policy decision with more members than before voting for a rate hike. The pound had traded lower following the release of the disappointing UK public sector finances …