The New Zealand dollar has posted small gains in Friday trade. In the European session, NZD/USD is trading at 0.7190, up 0.13% on the day. The pair is down 1.22% this week and is poised to have its worst weekly performance since mid-March.
The BusinessNZ Manufacturing Index fell in April to 58.4, down from 63.6. Although this was a significant drop, investors do...
On Thursday, the Canadian dollar has posted small gains. In the North American session, USD/CAD is trading at 1.2147, up 0.11% on the day.
The Canadian dollar has been on a tear lately. USD/CAD has fallen 1.32% in May and the Canadian dollar hasn't suffered a losing week since March. Canada's economic recovery has been bumpy and lockdown restrictions remain in...
The pound is showing limited movement in the Wednesday session. In European trade, GBP/USD is trading at 1.4132, down 0.07%. On the fundamental front, US CPI is projected to come in at 3.6% year-on-year in April, up from 2.6% in March. If CPI outperforms, it could raise expectations that the Fed will move sooner to tighten policy.
UK GDP numbers were a mixed bag,...
The pound is in positive territory on Tuesday. In the European session, GBP/USD is trading at 1.4144, up 0.20%.
The Scottish National Party (SNP) handily won the Scottish election, but investors sighed with relief as the pro-independence party came up just short of a majority. This means that plans for another referendum on Scottish independence may be delayed,...
The Japanese yen is drifting in the Monday session. In North American trade, USD/JPY is trading at 108.67, up 0.05%.
The yen has posted four winning weeks out of the past five, as the US dollar continues to struggle. Still, the US/Japan rate differential continues to support USD/JPY, which remains in no man's land slightly below the 109 level.
Japan will release...
The euro is showing little movement on Wednesday. In the North American session, EUR/USD is trading at 1.2005, down 0.06% on the day.
Business activity across the eurozone remains weak, as reflected by eurozone Services PMIs for April, which were released earlier on Wednesday. The German, eurozone and French releases were all close to the 50.0 level, which...
The New Zealand dollar has posted strong gains on Tuesday. In the North American session, NZD/USD is trading at 0.7133, down 88% on the day.
We continue to see significant volatility from the New Zealand dollar. The currency ended the week with sharp losses of 1.18%, as strong US data lifted the US dollar. NZD/USD started the week with strong gains, but these...
The Australian dollar is steady in the Monday session. In European trade, AUD/USD is trading at 0.7722, up 0.14%.
The US dollar showed some broad strength on Friday, and AUD/USD fell 0.70% and briefly fell below the 0.77 level. The greenback was supported by inflows from international investors who snapped up US Treasuries in month-end rebalancing flows.
Strong...
The British pound has reversed directions on Friday and posted gains. In the European session, GDP/USD is trading at 1.3881, up 0.32% on the day.
The pound has shown considerable movement this week. The currency started the week in fine fashion, climbing 1.11%. This marked its best one-day performance since January. After pushing above the symbolic 1.40 line, the...
EUR/USD is having a rare day in negative territory. Currently, the pair is trading at 1.2006, down 0.24% on the day.
The euro has been in fine form in April, racking up gains of 2.3%. The currency has made up most of the ground lost in March when EUR/USD fell by 2.8%. The direction of the US dollar has, to a large degree, been dependent on 10-year US Treasury...
The Canadian dollar continues to drift this week. In the Tuesday session, USD/CAD is trading at 1.2532, down 0.02% on the day.
All eyes will be on the Bank of Canada policy meeting on Wednesday (14:00 GMT). The bank is expected to maintain interest rates at 0.25%, where they have been pegged since last March, at the start of the Covid-19 pandemic. Any drama will...
The British pound has soared at the start of the week. Currently, GDP/USD is trading at 1.3961, up 0.86% on the day.
The British pound is on a torrid pace. The currency jumped 0.99% last week and has padded those gains on Monday. GBP/USD is closing in on the 1.40 level, which has psychological significance. This line has been tested several times this year, and...
The Canadian dollar is slightly higher on Friday. Currently, USD/CAD is trading at 1.2513, down 0.25% on the day. On the fundamental front, Canada will release tier-2 data, including Housing Starts. In the US, today's highlight is UoM Consumer Sentiment, which is expected to accelerate to 88.9 points.
Canada's ADP job report has been bleak in recent months, with...
The Canadian dollar has reversed directions on Friday and recorded slight gains. Currently, USD/CAD is trading at 1.2592, up 0.25% on the day. It has been a relatively quiet day week for the pair, but that could change in the North American session, with the release of key employment numbers (12:30 GMT).
Canada's economy continues to grapple with the Covid-19...
The British pound has fallen for a second straight day. Currently, GDP/USD is trading at 1.3717, down 0.28% on the day. The pair is down about 1 percent since Monday and has dropped into 1.37-territory.
The pound is under pressure, and even a strong Services PMI was not enough to prevent losses on Wednesday. Service providers reported growth in March, with the...
The Canadian dollar has reversed directions on Tuesday and posted slight losses. Currently, USD/CAD is trading at 1.2549, up 0.25% on the day.
The Ivey PMI rebounded in impressive form in February, rising to 60.0, well into expansionary territory. This followed two straight readings below the 50-level, which indicated contraction. The street consensus stands at...
The Australian dollar has started the week with slight gains. Currently, the pair is trading at 0.7626, up 0.25% on the day.
Friday's Nonfarm payrolls was expected to be strong, and NFP delivered big, with a read of 916 thousand, up from 379 thousand a month earlier. This figure easily beat the forecast of 652 thousand. With the US recovery gaining traction and...
The Canadian dollar has reversed directions on Thursday. Currently, USD/CAD is trading at 1.2577, up 0.13% on the day.
Since the start of 2021, the Canadian dollar is up about one percent against its US cousin, but there are signs that the currency may have touched bottom.
The province of Ontario, the largest in Canada, is expected to announce an expansion of...
