US Dollar Trades Mixed as Dollar Index Falls

US dollar is trading mixed today, heading higher against some currencies, but losing ground to others. The dollar index is lower today, thanks in large part to a surge in value by the euro.

Euro Recovers Earlier Losses on Hopes for Greek Talks

After Greek talks broke down earlier, the euro plunged against most of its major counterparts. However, the 19-nation currency has recovered and moved higher as investors and Forex traders take a step back and re-evaluate the situation.

Australian Dollar Hurt by Lackluster Motor Vehicle Sales

The Australian dollar was neutral-to-lower today as nation’s macroeconomic data was lackluster, making the currency unable to profit from the strong performance of the commodity market.

NZ Dollar Gains on Positive Retail Sales Data

The New Zealand dollar started the week strong, rallying to the highest level in three weeks against its US counterpart and the Japanese yen. The currency got help from solid retail sales from New Zealand.

Japanese Yen Gains After GDP Report

Even though the GDP report for Japan wasn’t as optimistic as hoped for, there is evidence of recovery, and that is helping the yen a little bit today in Forex trading. Yen is higher against its major counterparts.

Could China Devalue the Yuan?

Right now, there is speculation that China might end up with no choice but to devalue the yuan (also called the renminbi) if the economic situation doesn’t improve soon. Policymakers in Beijing have spoken out against the idea, but some analysts think that there might not be an option.

Sterling Shows Strength vs. Dollar for Third Week

The Great Britain pound was among the strongest currencies on the Forex market this week. The sterling gained 1.1 percent against the US dollar. It was the third consecutive weekly advance versus the greenback as well as against the Japanese yen.

Dollar Falls vs. Yen After Poor US Data

The US dollar fell against the Japanese yen today following poor macroeconomic data from the United States. The greenback was basically flat against the euro and the Great Britain pound.

Canadian Dollar Gains for Second Day

The Canadian dollar went higher today with the help of better-than-expected macroeconomic data from Canada as well as due to the rally of crude oil prices. It was the second consecutive daily gain against the US dollar and the euro.

Eurozone Growth Helps the Euro in Forex Trading

Euro is heading higher today, thanks in large part to the latest economic data out of the eurozone. Thanks to help from Germany, the latest GDP reading has moved higher, and that is providing help to the 19-nation currency.

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