The Great Britain pound started the week strong, rallying on the back of favorable construction data. Yet by now, the currency has lost gains versus most of its major peers. The IHS Markit/CIPS UK Construction Purchasing Managers’ Index was unchanged at 52.5 in May, while forecasters …
The euro rallied today as fears about Europe’s political problems receded, while optimism caused by the last week’s inflation data continued to support the currency. Concerns about political turmoil calmed down as Italy got a new government after all, while the no-confidence vote in Spain …
The Swiss franc gained on some of its major peers today, including the US dollar, but fell versus the euro as concerns about European politics receded. As for news from Switzerland itself, the manufacturing Purchasing Managers’ Index released on Friday showed a drop from 63.6 to 62.4 …
The Australian dollar rose sharply today. Analysts explained the rally by a better-than-expected retail sales report. The Australian Bureau of Statistics reported that retail sales increased 0.4% in April from March. That is compared to the predicted increase of 0.3% and the no-change reading registered in March. This …
The currency market was a roller coaster this week as currencies were swinging up and down on political turmoil in various parts of the world. The US dollar ended the week as one of the weakest currencies despite the very positive employment report. The main theme at the start of the week was political …
The US dollar rallied against most major peers today after employment data showed better-than-expected readings for all major indicators. The Great Britain pound managed to outperform the greenback, though, thanks to the positive report about Britain’s manufacturing. Nonfarm payrolls showed a healthy growth …
The Great Britain pound dipped at the start of the current trading session but halted its decline later and attempted to rally. The currency got additional boost from the better-than-expected manufacturing report. The seasonally adjusted IHS Markit/CIPS Manufacturing Purchasing Managers’ Index edged up to 54.4 in May …
The Australian dollar fell today amid mixed macroeconomic data released over the trading session in Australia and its major trading partner, China. Risk aversion caused by trade wars between the United States and their allies also hurt the currency. The Australian Industry Group Australian …
The Great Britain pound attempted to rally today but failed. Currently, the sterling trades at the opening level against some rivals and fell far below it versus others. Thursday’s macroeconomic data was generally positive, but that did not help the currency. The GfK …
The US dollar was rather soft today, falling against its most-traded rivals, though it has managed to pare losses versus some of its peers by now. The major topic for today was expiration of the tariff exemption for the closest US allies. Back in March, US …