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.

US Dollar Mixed, Touches New Multi-Year High vs. Yen

The US dollar was mixed today despite fairly supportive economic reports from the United States. Still, the currency managed to reach new multi-year high versus the Japanese yen before pulling back closer to the opening level.

Aussie Shows Resilience in Face of Bad Data

The Australian dollar fell earlier today as economic data from around the world suggested that global growth is losing steam. Yet the currency demonstrated resilience and bounced back to the opening level as of now.

Eurozone PMI Data Sends Euro Lower

The latest PMI data out of the eurozone is weighing on the euro today. A reading that moved unexpectedly lower is weighing on the 18-nation currency as Forex traders contemplate continued slowed growth, even with the ECB’s efforts to boost the economy.

Archives

SUBSCRIBE

Follow Top Forex News on Twitter T