The Australian dollar today rallied higher against the US dollar to lift the AUD/USD currency pair to new heights after the release of positive employment data for March. The Australian dollar’s rally lasted throughout the European session and only abated after the opening of the American session as the US dollar rallied higher. The AUD/USD currency pair rallied to new daily highs as it extended a rally that began yesterday as the markets anticipated positive Australian employment … “Australian Dollar Rallies Against US Dollar on Strong Employment Data”
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Canadian Dollar Strengthens Against US Dollar on BoC Interest Rate Announcement
The Canadian dollar today strengthened against the US dollar even as the Bank of Canada announced that its interest rates will remain unchanged. Although the bank maintained interest rates, it highlighted the fact that the Canadian economy could achieve sustainable growth into the future. The USD/CAD currency pair today hit new session lows as the currency pair lost about 100 points at the height of its decline, but had retraced … “Canadian Dollar Strengthens Against US Dollar on BoC Interest Rate Announcement”
Sterling Flat as Employment Data Doesn’t Help in Establishing Trend
The Great Britain pound traded basically flat today after the release of employment data. The report was mixed, giving the currency no help in finding a direction to move. Average weekly earnings rose 2.3% in the three months to February from the same period a year ago, the same as in the previous reporting period, while forecaster had predicted slowdown of wage inflation to 2.1%. The unemployment rate was steady at 4.7% — the lowest since August 1975. … “Sterling Flat as Employment Data Doesn’t Help in Establishing Trend”
Aussie Posts Small Losses After Data from Australia & China
The Australian dollar fell after the release of economic reports from Australia and China, but the losses were rather limited despite the nervous sentiment among investors due to rising geopolitical risks. China’s official Consumer Price Index rose 0.9% in March, year-on-year, more than in the previous month (0.8%) but less than analysts had predicted (1.1%). The Producer Price Index was up 7.6% in March, year-on-year, less than … “Aussie Posts Small Losses After Data from Australia & China”
Canadian Dollar Gains Against Most Peers Ahead of BoC Interest Rate Decision
The Canadian dollar traded marginally lower against the US dollar and other major peers on Tuesday, as crude oil prices continued to head higher due to growing concerns that global supply might be disrupted. The loonie was lower today as traders anticipated a monetary policy decision from the Bank of Canada tomorrow. Prices of crude oil gained about 10% in the past two weeks, as supply disruptions drove the value of crude higher. … “Canadian Dollar Gains Against Most Peers Ahead of BoC Interest Rate Decision”
Euro Drops Despite Improving Economic Sentiment
The euro dropped against its major peers (with the exception of the US dollar) today even though the economic sentiment indicators for Germany and the whole eurozone improved. The ZEW Indicator of Economic Sentiment for Germany climbed from 12.8 to 19.5 in April, far above the consensus forecast of 13.2. The index of the current economic situation in Germany also improved. The index of economic expectations for the eurozone improved from 25.6 to 26.3 instead of falling to 25.0 as forecasters had … “Euro Drops Despite Improving Economic Sentiment”
US Dollar Weakens Against Japanese Yen as Investors’ Risk Appetite Declines
The US dollar today weakened against the Japanese yen as the markets became risk averse following a decline in US treasury yields. The US dollar is experiencing its worst performance this month as the USD/JPY currency pair declined to record lows as investors sold the greenback and bought the Japanese yen. The greenback performed extremely poor during today’s session as tracked by the US Dollar Index given that the index had declined from its … “US Dollar Weakens Against Japanese Yen as Investors’ Risk Appetite Declines”
Great Britain Pound Little-Changed During Quiet Tuesday’s Trading
The Great Britain pound was steady on Tuesday, the same as some other currencies (like the Australian dollar). Britain’s economic reports were mixed, giving the currency no reason to go one way or the other. Retail sales reported by British Retail Consortium dropped 1.0% in March from a year ago, though the report said that data released ahead of the volatile Easter period may be unreliable. Meanwhile, consumer price annual … “Great Britain Pound Little-Changed During Quiet Tuesday’s Trading”
Australian Dollar Steady on Tuesday
The Australian dollar was little changed today even though domestic macroeconomic data released over the trading session was relatively decent and supportive to the currency. The business confidence index released by National Bank of Australia today showed a small drop from 7 in February to 6 in March. At the same time, the business conditions index edged up from 9 to 14. Overall, the report was fairly positive, saying: Results from the March … “Australian Dollar Steady on Tuesday”
Pound Bounces from Lows as Traders Wait for Inflation Report
The Great Britain pound bounced from its recent lows on Monday as traders were waiting for inflation data that may prompt the Bank of England to start monetary tightening sooner. Forecasters predicted that the Tuesday’s report will show an increase of the Consumer Price Index by 2.2% in March following the gain by 2.3% in February. Analysts speculated that high inflation and the weak currency may force the BoE to act sooner than planned, starting … “Pound Bounces from Lows as Traders Wait for Inflation Report”