The Australian dollar attempted to rally today but failed and has lost gains versus most of its major rivals by now. The rally was a response to the generally positive market sentiment that was caused by Friday’s good employment report in the United States. Additionally, the Aussie got support from the news that Australia will be exempt from the US tariffs. US President Donald Trump announced duties of 25% on steel and 10% … “Australian Dollar Fails to Maintain Rally Despite Positive Fundamentals”
Author: admin_mm
USD/CAD Declines on US and Canadian Employment Reports
The USD/CAD currency pair today declined to new lows after the release of mixed employment reports from both the USA and Canada. The currency pair was on a downward trend from earlier in the session after President Donald Trump exempted Canada and Mexico from the new steel and aluminum tariffs. The USD/CAD currency pair lost over 85 points to decline from a high of 1.2908 to a low of 1.2821 at the time of writing. The pair’s decline was triggered … “USD/CAD Declines on US and Canadian Employment Reports”
GBP/USD Trades Sideways on Weak UK Macro Releases
The GBP/USD currency pair today traded in a tight range following the release of several UK macro reports, most of which did not meet expectations. The currency pair lacked enough momentum to rally higher following yesterday’s massive decline occasioned by higher demand for the US dollar. The GBP/USD currency pair traded in a tight range marked by a high of 1.3831 and a low of 1.3787 at the time of writing. The release of the UK January trade balance report by the Office … “GBP/USD Trades Sideways on Weak UK Macro Releases”
EUR/USD Plummets on Draghi Speech After ECB Rate Decision
The EUR/USD currency pair today plummeted to new lows following comments made by Mario Draghi regarding weak inflation in the euro area. The currency pair retraced all the gains it had made after the European Central Bank left its monetary policy intact at today’s meeting. The EUR/USD currency pair lost over 100 points as it plummeted from a high of 1.2446 to hit a low of 1.2340 at the time of writing. The currency pair … “EUR/USD Plummets on Draghi Speech After ECB Rate Decision”
USD/CAD Rallies on BoC Rate Decision amid Trade Tensions
The Canadian dollar today weakened against its US counterpart after the Bank of Canada left interest rates intact, which drove the USD/CAD currency pair to new highs. The Canadian dollar was also under intense selling pressure due to fears that a trade war with the USA would hurt the country’s economy as the US is a major export market. The USD/CAD currency pair rallied by over 100 points from a low … “USD/CAD Rallies on BoC Rate Decision amid Trade Tensions”
Euro Rallies Against US Dollar on North Korea Progress
The euro today rallied higher against the US dollar as investors embraced the risk-on mood in the market after it emerged that North Korea was considering possible denuclearization. The news emerged from talks between North Korea and its Southern counterpart, and its impact was significant enough to outweigh the effect of the Italian general election on the single currency. The EUR/USD currency pair gained over 80 points to rally from a low of 1.2327 … “Euro Rallies Against US Dollar on North Korea Progress”
Australian Dollar Gains After Volatile Session
The Australian dollar was rather volatile today. The currency rallied after somewhat mixed domestic macroeconomic data, fell following the release of a services sector report from China, but has recovered by now. The Australian Industry Group Australian Performance of Services Index, released overnight, showed a drop from 54.9 to 54.0 in February. The Melbourne Institute Inflation Gauge slipped 0.1% in February, month-on-month. The number of building approvals jumped by 17.1% in January … “Australian Dollar Gains After Volatile Session”
Euro Mixed After European Elections, Disappointing Economic Reports
The euro fell against the US dollar intraday but has managed to recover by now. Against other majors the shared 19-nation currency was mixed, rising against the safe currencies, like the Japanese yen, but falling versus the Great Britain pound. The major driver for the currency were European election on the weekend. Angela Merkel secured her fourth term as German Chancellor after the Social Democrats voted for a coalition deal with Merkel’s … “Euro Mixed After European Elections, Disappointing Economic Reports”
EUR/USD: Expect A Knee-Jerk Reaction From Next Week’s ECB Meeting – Danske
The European Central Bank is expected to leave the rates unchanged but may tweak its statement. What is on the cards? Here is a preview from Danske. Here is their view, courtesy of eFXnews: Danske Research discusses its expectations for next week’s ECB meeting and the likely EUR/USD reaction around the meeting. “The increasingly more complicated … “EUR/USD: Expect A Knee-Jerk Reaction From Next Week’s ECB Meeting – Danske”
US Dollar Demonstrates Decent Weekly Performance
The past trading week was marked by risk aversion caused by prospects for trade wars between the United States and its trading partners. While it weighed on the US dollar, the greenback’s performance was not that bad considering the circumstances as the US currency ended the week the third strongest among majors. The surprise announcement of tariffs on steel and aluminum imports by the USA prompted strong criticism and threats of retaliation from China and the European Union. Earlier … “US Dollar Demonstrates Decent Weekly Performance”