Outlook for Euro: Bears Wait for Downtrend Resumption

The euro has been performing decently for the most part of the last week but ended the week on a sour note after comments from the central bank. Can the currency recover or will it drop to new lows? That is the question many Forex market participants are looking an answer for.

NZD Fails to Rally vs. USD, Keeps Gains vs. JPY

The New Zealand dollar attempted to rally against its US counterpart but failed and trades below the opening level right now. At the same time, the currency managed to maintain gains versus the Japanese yen.

Brazilian Real Falls as Finance Minister Not Named Yet

The Brazilian real fell as President Dilma Rousseff has not yet announced a person who will take the finance minister seat. This added to concerns that Brazil will struggle to overcome problems that its economy has.

Euro Loses Ground by Weekend

Initially, it looked like this trading week would be another week of consolidation for the euro. Yet the shared 18-nation currency lost its ground by the weekend due to combined influence of poor economic indicators and comments from European policy makers.

China’s Interest Rate Cut Lifts Australian Dollar

The Australian dollar climbed today, reaching the highest level in more than a year and half against the Japanese yen. The rally followed a surprise interest rate cut from China’s central bank.

Canadian Inflation Pushes Loonie to New Highs

The Canadian dollar rose today, touching the highest level in a month against its US counterpart, as Canada’s inflation exceeded expectations. The currency also rallied to the strongest level in a year versus the euro and reached a new multi-year high against the Japanese yen.

Swiss Franc Joins Euro in Decline

The Swiss franc sank today as Governing Board Member Fritz Zurbruegg said that the Swiss National Bank will take any steps required to keep the ceiling on the currency in place. The Swissie declined together with euro.

Euro Plunges Following Draghi’s Comments

Euro is heading much lower today, plunging following the latest comments by ECB President Mario Draghi. His insistence that the ECB will do whatever it takes to stimulate the eurozone economy is driving the 18-nation currency lower today.

Yen Rebounds on Finance Minister’s Comments

The Japanese yen rallied today after Japan’s Finance Minister Taro Aso commented on the recent slump of the currency, saying it was too quick.

Pound Trades Mixed to Lower Following Rally

The Great Britain pound was little changed at the start of the current trading session, edging a little lower against the euro and the Japanese yen. The currency rallied yesterday due to better-than-expected retail sales.

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