The Canadian dollar is trading higher on Tuesday, finding support from rising crude oil prices and a lower US dollar. The loonie has risen to its best level in eight weeks against the greenback, and it could add to its gains on reports that an updated North American Free Trade Agreement (NAFTA) proposal has been submitted. US-Iran tensions are intensifying after Washington slapped new sanctions on Tehran, one … “Canadian Dollar Receives Support From Higher Crude Prices, Weaker Greenback”
Month: August 2018
Euro Rallies Higher on Market-Wide US Dollar Retracement
The euro today rallied higher against the US dollar following the market-wide selling of the US dollar, which boosted most of its peers. The EUR/USD currency pair rallied higher from the early European session despite the release of mixed data from the German docket. The EUR/USD currency pair rallied higher from a low of 1.1550 … “Euro Rallies Higher on Market-Wide US Dollar Retracement”
Chinese Yuan Erases Early Gains on US Trade Friction, PBOC Move
The Chinese yuan enjoyed a great start to the trading week, but the currency quickly pared its gains on concerns over escalating trade tensions with the US. The trade fallout is also impacting the equities market as the widespread selloff are sending stocks, especially small-cap stocks, tumbling. On Friday, the Chinese government warned that it would slap more tariffs, ranging from 5% to 25%, on $60 billion in US goods. This … “Chinese Yuan Erases Early Gains on US Trade Friction, PBOC Move”
Euro Weakens Against a Strong US Dollar on Global Trade Concerns
The euro today weakened against the US dollar as trade tensions between the US and China boosted the greenback. The EUR/USD currency pair was further dragged lower by the positive investor sentiment towards the greenback following the mixed non-farm payroll data released on Friday. The EUR/USD currency pair today dropped from a high of 1.1570 … “Euro Weakens Against a Strong US Dollar on Global Trade Concerns”
Pound Drops After UK Officials Talks About Chances of Hard Brexit
The Great Britain pound dropped today after a UK official signaled about a possibility of the “hard” Brexit. As the date of the final separation of the United Kingdom from the European Union draws closer, chances that the UK and the EU will reach a trade deal before the deadline of March 2019 diminish. Pessimism increased after Trade Secretary Liam Fox said that there is 60% chance of the “no-deal” outcome, blaming “intransigence” of EU officials … “Pound Drops After UK Officials Talks About Chances of Hard Brexit”
Swiss Franc Under Pressure from Stock Markets’ Attempt to Rally
The Swiss franc was soft today as the attempt of stock markets to rally put pressure on safer currencies. The markets wobbled, though, amid trade tensions between the United States and China. Today’s decline followed Friday’s better-than-expected inflation data in Switzerland. Released on Friday, a report from the Federal Statistical Office showed that the Consumer Price Index fell 0.2% in July from the previous month. While it was a worse reading than … “Swiss Franc Under Pressure from Stock Markets’ Attempt to Rally”
CAD Ends Week Strongest with Aid of Good Data & NAFTA Optimism
The Canadian dollar ended the past week as the strongest currency on the Forex market thanks to economic data and optimism about NAFTA talks. The loonie was lifted on Tuesday by the gross domestic product report that showed faster growth of Canada’s economy than was expected. On Friday, another positive report was released, showing that Canada’s trade deficit shrank much more than was expected. Additionally, signs that progress has … “CAD Ends Week Strongest with Aid of Good Data & NAFTA Optimism”
The Non-Farm Payrolls will not stop the Fed, nor the Dollar
The Non-Farm Payrolls report met wage expectations but fell on the headline. There is plenty of other good news in the report. There is nothing in the report to derail the Fed from raising rates in September. Wages were supposed to be the focus. They rose by 2.7% YoY and 0.3% MoM precisely as expected. … “The Non-Farm Payrolls will not stop the Fed, nor the Dollar”
The Non-Farm Payrolls will not stop the Fed, nor the Dollar
The Non-Farm Payrolls report met wage expectations but fell on the headline. There is plenty of other good news in the report. There is nothing in the report to derail the Fed from raising rates in September. Wages were supposed to be the focus. They rose by 2.7% YoY and 0.3% MoM precisely as expected. … “The Non-Farm Payrolls will not stop the Fed, nor the Dollar”
Euro Stumbles As Business Growth, Retail Sales Stall
The euro weakened to a five-week low against the US dollar at the end of the trading week on the latest eurozone economic data that is indicating lackluster growth. Despite a rallying DAX and FTSE, the currency could not record any gains, adding to its string of losses over the last month. According to Eurostat, … “Euro Stumbles As Business Growth, Retail Sales Stall”