• The EUR Comes to the Dollar’s Rescue Ahead of Tomorrow’s ECB Decision

    Macroeconomic data is on the lighter side for the day ahead, leaving the markets to consider the lie of the land ahead of tomorrow’s heavily anticipated ECB monetary policy decision and, more importantly, Draghi press conference, the ECB becoming the centre of attention, with the FED seemingly on a more dovish footing. The EUR rallied to […]

  • US Dollar Plummets Against Major Peers as Employment Data Misses Estimates

    The US dollar plummeted against the euro and the British pound on Thursday, following a number of disappointing economic data that further confirmed a slowdown in the US economic growth. The greenback declined despite marginally stronger business activity in the United States, which failed to cancel the negative effect of today’s economic releases. The ADP […]

  • Canadian Dollar Ends Week Strongest amid BoC Hike Speculations

    The Canadian dollar ended the week as the strongest major currency because the events during the week’s trading fueled speculations that the Bank of Canada will hike interest rates as soon as the next week. Markets considered the comments of BoC Governor Stephen Poloz as a sign that the central bank is ready to raise […]

  • It’s a Mill Pond of a Day leaving the Dollar on the Front Foot

    It’s another quiet start to the week, with material macroeconomic data this morning being limited to German’s May trade figures, which will leave the markets with little else to consider other than Friday’s data out of the U.S and what’s scheduled for release for the week ahead, though it’s not just going to be down […]

  • China has no intention of devaluing its currency: regulator

    BEIJING (Reuters) – China has no intention of devaluing its currency, the yuan , to boost its competitiveness, said the head of the country’s foreign exchange regulator. There is also no necessity for China to devalue its currency, Pan Gongsheng, head of the State Administration of Foreign Exchange, wrote in state magazine Qiu Shi. The […]

  • US Dollar Rallies Higher Against Peers on Positive Non-Farm Payrolls

    The US dollar today rallied higher against its main peers such as the euro, the British pound and the Japanese yen as the non-farm payrolls report beat expectations. The US dollar rallied higher against its peers today building on the momentum established yesterday after the release of positive ADP national employment report. The US Dollar Index, which tracks the greenback’s performance against a basket of its main peers, was trading above its opening price […]