The Australian dollar continues to have a relatively quiet week. Currently, the pair is trading at 0.7609, up 0.18% on the day.
Australia's retail sales were a major disappointment in February, as the interim report came in at -1.1%, much worse than the street consensus of +0.6%. The final February release (Thursday 12:30 GMT) is projected to show an identical...
The Canadian dollar has lost ground for a second straight day. Currently, USD/CAD is trading at 1.2634, up 0.35% on the day. Earlier in the day, USD/CAD touched a high of 1.2674, its highest level since March 10th.
It's been a quiet start to the week for USD/CAD, with no Canadian events. That will change on Wednesday, with the release of Canada's GDP for January....
The Swiss franc has started the week quietly. Currently, USD/CHF is trading at 0.9398, up 0.08% on the day.
The KoF Economic Barometer, a key indicator of business confidence, will be released on Tuesday (7:00 GMT). The KoF slipped below its long-term average of 100 in January, with a reading of 96.5. The indicator rebounded in February, rising to 102.7 and the...
The Swiss franc is unchanged in Thursday trading. Currently, USD/CHF is trading at 0.9353, down 0.02% on the day.
There were no surprises from the Swiss National Bank, which held its policy meeting on Wednesday. As expected, the bank maintained its key rate at -0.75%. The bank tweaked its inflation forecast for 2021 to 0.2%, slightly higher than the 0% forecast...
The euro continues to head south in Wednesday trading. Currently, EUR/USD is trading at 1.1828, down 0.17% on the day.
Just four weeks ago, EUR/USD was basking above the 122 level and looking strong against the US dollar. Fast forward to the present, and the euro is struggling to keep above the 1.18 level as its trades at its lowest level since November 23rd....
The British pound has recorded considerable losses on Wednesday and fallen below the 1.38 line. Currently, GDP/USD is trading at 1.3775, down 0.63% on the day.
The UK released a mixed employment report earlier on Tuesday. In February, claims jumped to 86.6 thousand, compared to the forecast of 9.0 thousand. This was the highest claim count since July. The...
The Japanese yen is almost unchanged in the Monday session. Currently, USD/JPY is trading at 108.74, down 0.09% on the day.
The Japanese yen remains vulnerable and the symbolic 109 level is under strong pressure. The dollar has had its way with the yen in 2021, as USD/JPY has jumped 5.5% this year. Last week, the pair climbed to 109.36, its highest level since...
The Australian dollar is in negative territory for a second straight day. Currently, the pair is trading at 0.7727, down 0.43% on the day.
Australia's retail sales started off 2o21 on a decidedly sour note, as the January report came in at -1.1%, much worse than the street consensus of +0.6%. The decline is attributable to Covid restrictions, which had a negative...
The Canadian dollar is considerably lower in the Thursday session. Currently, USD/CAD is trading at 1.2474, up 0.56% on the day.
Canada releases Retail Sales for January on Friday (12:30 GMT), with the street consensus pointing to declines. Headline retail sales is expected at -3.0%, while Core Retail Sales is projected at -2.8%. Both indicators registered...
The Australian dollar is having a quiet Tuesday session. Currently, the pair is trading at 0.7744, down 0.14% on the day.
The RBA minutes were a non-market mover on Tuesday, as there were no surprises from the central bank. The committee remains focused on employment and wage expectations. The minutes noted the sharp appreciation in the Australian dollar since...
The Australian dollar is in negative territory in the Monday session. Currently, the pair is trading at 0.7739, down 0.29% on the day.
The RBA releases the minutes of its March meeting early on Tuesday (00:30 GMT). At the meeting, policymakers maintained the Cash Rate at 0.10%, where it has been pegged since November. The RBA statement pledged that the record low...
The Canadian dollar is slightly higher in the Friday session. Currently, USD/CAD is trading at 1.2550, up 0.18% on the day.
The Canadian dollar has enjoyed a solid week, with gains of close to one percent. The currency could pad those gains before the week is out, if Canada's job numbers improve in February as expected. The street consensus is that the economy...
The Australian dollar is showing little movement in the Wednesday session. Currently, the pair is trading at 0.7706, down 0.08% on the day.
Australia's economy has recovered from the Covid-induced downturn more quickly than expected. The country has contained Covid quite well, and global demand for Australian exports is growing. The impressive economic recovery...
The euro has rebounded on Tuesday, erasing most of the losses seen on Monday. Currently, EUR/USD is trading at 1.1901, up 0.46% on the day.
The euro had its way with a wobbly US dollar late in 2020 and pushed close to the 1.23 line in late February. However, the euro has been under sustained pressure since then. EUR/USD is barely hanging onto the 1.19 level and...
The Japanese yen has started the week with considerable losses. Currently, USD/JPY is trading at 108.82, up 0.51% on the day.
The yen's woes continue, as the US dollar continues to beat up on the Japanese currency. USD/JPY has jumped 5.6% since January 1 and is pressing on the 109 line, which has held since June 2020. The catalyst behind the recent strength of...
Thursday's OPEC+ meeting became a market-mover event, as members announced that production cuts would be extended in April. This caught the market completely off guard, as OPEC+ was widely expected to raise output by 500,000 barrels per month. Instead, OPEC+ has opted to hold back some 9.2 million barrels from the market each day, until at least the beginning of...
The Australian dollar has recorded slight gains in the Thursday session. Currently, the pair is trading at 0.7790, up 0.23% on the day.
Retail sales climbed 0.5% in January, which followed the December gain of 0.6%. These are by no means earth-shattering numbers, but the two consecutive gains are welcome news after back-to-back declines of around 4 per cent. The...
The British pound is almost unchanged for a third straight day. Currently, GDP/USD is trading at 1.3964, up 0.07% on the day.
Pound stabilizes below 1.40
The British pound is in tranquil waters this week, after the currency slid 1.5% late last week. The catalyst for the steep drop was the sharp jump in US Treasury bonds, which boosted the US dollar. However,...
