UK Manufacturing Output Grows at Quickest Rate in Six Years
The euro dollar declined against the pound following the release of lower-than-anticipated Spanish and German manufacturing PMI data. The increase in the Italy unemployment rate also contributed to the weakness of the euro. The pound’s rally was also aided by
Read MoreCanadian Dollar Hits 7-Month High as Economy Gallops 6.5% m-o-m in June
The loonie rallied against the greenback to hit a seven month high of $1.304 after the recent GDP data indicated that the country’s economy expanded by a historical high 6.5% in June, rebounding further from April’s record low level of
Read MorePeso Hits Historical Low as Argentina Contemplates Joining Belt & Road Initiative
The Argentine peso fell further to breach 73.80 against the greenback, the lowest level documented, after the country’s central bank president Pesce opined that the restructuring agreement with creditors should minimize the necessity for additional currency exchange prohibitions and assist
Read MoreCanadian Dollar Reverses From Seven-Month High on Weak Crude Prices
The US dollar is showing signs of recovering the lost ground against the Canadian dollar after the latter hit seven month high on reports of Chrystia Freeland, Deputy Prime Minister, being selected as the country’s finance minister replacing Bill Morneau
Read MoreWhy the British pound is Strengthening?
The British pound rallied against the green back to trade at 1.3110 levels due to betterment in risk appetite and positivity encircling the continuing Brexit discussions after the UK’s chief negotiator David Frost stated that a deal with the EU
Read MoreUS Dollar Gains On Strong Job Additions in July, 10-Year Treasury Note Hovers Near 234 Year Low
The dollar index rose to 93.4 Friday after the US employment data indicated that the economy added better-than-anticipated jobs in July 2020. Furthermore, the demand for safe-haven assets rose on resumed strains between the US and China after President Donald
Read MoreLatin American Economies Continue to Struggle as Philippines Enters Recession
Data published by IHS Markit indicated that Brazil services PMI (purchasing managers’ index) increased to 42.50 in July, from 35.90 in the earlier month, reflecting fifth successive contraction against the backdrop of Covid-19 pandemic. Fresh orders declined for the fifth
Read MoreArgentine Peso Hits Historical Low As US Dollar Hovers Near 2-yr Low
The peso hit a historical low of $72.51 against the US dollar after the Argentine government stated that it had inked an agreement with three consortia of creditors to reorganize $65 billion worth sovereign debt. The government further stated that
Read MoreFitch Downwardly Revises US Rating Outlook to Negative
Rating agency Fitch has downwardly revised the US sovereign ratings outlook to negative from stable, while affirming the debt grade at AAA, mainly due to worsening state finances and lack of dependable fiscal strengthening strategy. These issues have been underscored
Read MoreSterling Hits 5-Month High after Fed Maintains Rate
The pound rallied against the greenback to trade at about 1.2985 Thursday, representing the highest level since March 9th, as the Federal Reserve maintained the fed funds rate as anticipated and cautioned that the Covid-19 issue will have a lingering
Read More
