US Dollar Ends Week Soft As Market Enters Consolidation Mode

The US dollar, as well as the Japanese yen, was among losers during the past trading week as the investors’ sentiment improved and the market entered a consolidation mode. The Great Britain pound was also among the weakest currencies, while the New Zealand dollar and the Canadian dollar were the strongest ones. Fears about the situation in Turkey eased a bit, though concerns returned after the United States threatened to slap more sanctions against the country. The fact … “US Dollar Ends Week Soft As Market Enters Consolidation Mode”

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Euro Firm on Friday After Positive Macroeconomic Releases

The euro rose on Friday. Macroeconomic data released in the eurozone during the trading session was good, with inflation coming out within expectations and the current account beating forecasts. Eurostat reported that eurozone inflation was at 2.1% in July, up from 2.0% in June, according to the final estimate. The reading was the same as in preliminary estimate and matched forecasts. According to the data provided by the European Central Bank, the current account surplus in June was … “Euro Firm on Friday After Positive Macroeconomic Releases”

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NZ Dollar Dollar Rises After Better-Than-Expected PPI

The New Zealand dollar rose today, boosted by the Producer Price Index, which came out much better than was expected by economists. The output PPI rose 0.9% in the June quarter from the previous three months, while the input PPI rose 1.0%. That is compared to analysts’ predictions of a growth by 0.1% and 0.2% respectively. The kiwi was heading to end the week as the strongest currency, but analysts were skeptical about longevity … “NZ Dollar Dollar Rises After Better-Than-Expected PPI”

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Canadian Dollar Jumps Despite NAFTA Exclusion

The Canadian dollar is rallying to finish off the trading week. The loonie is strengthening on higher energy prices and strong inflation numbers, but the currency’s gains may have been capped by President Donald Trump excluding Canada from the latest North American Free Trade Agreement (NAFTA) talks with Mexico. On Thursday, speaking at a televised cabinet meeting, President Trump suggested that US trade representatives are purposely freezing … “Canadian Dollar Jumps Despite NAFTA Exclusion”

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Turkish Lira Halts Recovery, Falls vs. Dollar & Euro

The Turkish lira halted its rebound and fell versus the US dollar and the euro today as concerns about the situation in Turkey resurfaced. Lately, it looked like fears about the financial stability in the Middle Eastern nation subsided. Yet concerns returned after the United States threatened to slap additional tariffs on Turkish goods unless Turkey releases detained American pastor. Relations between the two NATO allies soured after the Turkish government … “Turkish Lira Halts Recovery, Falls vs. Dollar & Euro”

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Japanese Yen Finds Direction As Investors Show Currency Is ‘Undervalued’

The Japanese yen is continuing to find direction at the end of the trading week as analysts say that the currency is “undervalued.” As the market fears over the Turkish crisis dissipate, several currencies are looking to gain some momentum in this volatile environment, and one of them might be the yen. In the fallout of the lira crash, investors have been diving into the Japanese yen. And this could help appreciate the currency for the remainder of 2018. According to Bloomberg, … “Japanese Yen Finds Direction As Investors Show Currency Is ‘Undervalued’”

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Canadian Dollar Among Weakest Currencies Despite Solid Data

The Canadian dollar was among the weakest currencies today despite solid macroeconomic data and gains of crude oil, Canada’s major export commodity. The possible reason for that were resurfacing concerns about the Turkish situation. Statistics Canada reported that manufacturing sales rose 1.1% in June after increasing 1.5% in July. The reading was in line with analysts’ forecasts of a 1.0% increase. ADP employment showed growth by 11,600 jobs in July. … “Canadian Dollar Among Weakest Currencies Despite Solid Data”

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Pound Attempts to Rally on Positive Retail Sales, Remains Vulnerable

The Great Britain pound attempted to rally against some of its rivals today but was still hanging near the 14-month lows. While UK retail sales beat expectations and the general market sentiment improved, Brexit fears were still weighing on the currency. Britain’s Office for National Statistics reported that retail sales increased 0.7% in July, recovering from the 0.5% drop in June. Analysts had predicted a smaller increase by 0.2%. … “Pound Attempts to Rally on Positive Retail Sales, Remains Vulnerable”

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Euro Recovers as US-China Trade Talks Are Set to Resume

The  euro today recovered from the  14-month lows hit yesterday following the  news that trade negotiations between China and  the  USA are set to  resume later this month. The  EUR/USD currency pair was also boosted by  the  release of  the  latest Eurozone trade balance data in  the  early European session, which beat expectations. The  EUR/USD … “Euro Recovers as US-China Trade Talks Are Set to Resume”

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AUD Rallies on Improving Market Sentiment, Decent Economic Data

The Australian dollar rallied today, boosted mainly by the improving market sentiment. Australia’s macroeconomic data released over the trading session was somewhat mixed, but mostly good. The Australian Bureau of Statistics reported that employment shrank by 3,900 in July on a seasonally adjusted basis. That is compared to the forecast of an increase by 15,000 and the previous month’s revised hefty gain by 58,200. Looking deeper into the report, though, the situation did not seem … “AUD Rallies on Improving Market Sentiment, Decent Economic Data”

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