Euro Hits 2-Month High on Calls for Tapering Bond Purchases by ECB Governing Council Member
Friday’s lackluster US employment data helped the euro rise over $1.19 for the foremost time since June 30th. In addition, there are indications that the European Central Bank may begin discussing reducing its extraordinary bond-buying program. Inflation in the eurozone
Read MoreCanadian Dollar Under Selling Pressure as Economy Continues to Slide
The Canadian Dollar fell to the bottom of the main currency performance chart on Tuesday, boosting GBP/CAD and USD/CAD in the way, as Statistics Canada indicated that the economy disappointed growth forecasts in the previous quarter and also at the
Read MoreNew Zealand Dollar Rebounds as Market Shifts to Risk-On Sentiment
The Kiwi dollar gained ground Friday to hit $0.70, from $0.68 in early August as investors swirled away from the greenback after the Fed Chair Powell asserted that a decline in bond purchases will not result in a simultaneous rise
Read MoreRussian Ruble Strengthens On Crude Recovery & Rate Hike
The Russian ruble strengthened over the 74 mark versus the US dollar, aided by a rebound in crude prices and a significant rise in the central bank’s benchmark rate in July. After a 7.7% drop last week, reflecting the worst
Read MoreSwedish Krona Hits 11/2-yr Low Despite Manufacturers’ Confidence Hitting Record High
The Swedish krona hit a one-and-a-half-year low despite the release of a series of upbeat data for July. Specifically, the country’s industry confidence has hit a record high in July as manufacturer’s sentiment made a new historical high. The second-quarter
Read MoreUS Dollar Strengthens on Hints of Policy Tightening by FOMC Minutes
The US dollar index was changing hands at about 93.43 against a bouquet of currencies on Thursday, up from 93.1 in the previous session and floating near its peak point since the final week of March, after minutes from the
Read MoreUS Dollar Hits One-Week Low as Consumer Sentiment Hits Decade Low
The dollar index fell to new weekly lows in the 92.40 range on Friday, tracking Treasury yields, as fund managers responded to unimpressive sentiment info. Consumer confidence in the United States fell to 70.2 in August, far below market forecasts
Read MoreAussie Remains Weak on Slow Covid-19 Vaccine Roll Out
According to an expert at one of Australia’s biggest banks, the Aussie will stay restricted for “some time ahead,” owing to a sluggish vaccination rollout. In a study paper presented, Richard Franulovich, Head of FX Strategy at Westpac, states that
Read MoreSwiss Franc Continues to Decline After Hitting 1-1/2 Month High
The Swiss franc traded at 0.9150 per US dollar, falling further from a 1-1/2-month high of $0.9010 recorded earlier in August as speculators rushed into the dollar on hopes of a much more hawkish Fed after a strong US employment
Read MoreUS Dollar Strengthens on Fed Vice Chairman’s Hawkish Statement
According to Federal Reserve Vice Chairman Richard Clarida, the central bank is on track to meet its economic goals by the end of 2022 and begin increasing benchmark interest rates once more in 2023. While he said the labor market
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