The Australian dollar has extended this week's gains. In the North American session, AUD/USD is trading at 0.6357, up 0.36%.
Australia releases inflation on a quarterly basis, which magnifies the significance of each release. We'll get a look at third-quarter inflation on Wednesday, with a market consensus of 1.1% q/q, compared to 0.8% in Q2. Inflation is...
The Canadian dollar has edged higher on Friday. In the European session, USD/CAD is trading at 1.3688, down 0.23%. Canada releases retail sales later today, which could result in volatility from the Canadian dollar.
Canada wraps up the week with the August retail sales report. The markets are bracing for a deceleration, with an estimate of -0.3% m/m, compared to...
The British pound is drifting on Thursday. In the North American session, GBP/USD is trading at 1.2142, almost unchanged.
The UK inflation report on Wednesday was a stark reminder that inflation remains stubborn and sticky. The Bank of England has raised the benchmark rate to 5.25%, but headline inflation was steady at 6.7% y/y and the core rate ticked lower to...
The Australian dollar started the day higher but has reversed directions. In the North American session, AUD/USD is trading at 0.6357, down 0.13%.
The US dollar has steamrolled the Aussie, which hasn't posted a winning week since September and dropped close to a one-year low last week. The Australian dollar has bounced back this week, however, gaining 1.08%.
The...
The British pound has declined 0.56% against the US dollar on Wednesday, wiping out yesterday's gains. In the North American session, GBP/USD is trading at 1.2158, down 0.48%. The pound's downswing was driven by a higher-than-expected US retail sales report.
Retail sales in the US surprised on the upside with a gain of 3.8% y/y in September. This beat the...
The New Zealand dollar has started the week with strong gains. In the European session, NZD/USD is trading at 0.5919, up 0.55%. It was a miserable week for the News Zealand dollar, which fell 1.74%, its worst weekly performance since August.
The driver for today's gains was the New Zealand Services PMI, which rose to 50.7 in September, up from 47. 7 in August....
The Japanese yen is slightly lower on Friday. In the European session, USD/JPY is trading at 149.63, down 0.12%.
The US inflation report for September was unchanged at 3.7% y/y, but this was higher than the market estimate of 3.6% y/y and the market reaction sent the US dollar higher against all the major currencies. USD/JPY rose 0.43% on Thursday, hitting a high...
The Japanese yen is slightly lower on Friday. In the European session, USD/JPY is trading at 149.63, down 0.12%.
The US inflation report for September was unchanged at 3.7% y/y, but this was higher than the market estimate of 3.6% y/y and the market reaction sent the US dollar higher against all the major currencies. USD/JPY rose 0.43% on Thursday, hitting a high...
The New Zealand dollar is sharply lower on Thursday. In the North American session, NZD/USD is trading at 0.5943, down 1.27% on the day. The US dollar has strengthened against the major currencies after today's inflation report and the New Zealand dollar has been hit particularly hard. On Friday, New Zealand releases the manufacturing index, which is expected to...
The British pound is calm on Wednesday. In the European session, GBP/USD is trading at 1.2297, up 0.10%.
The UK economy has been struggling and GDP declined by 0.5% m/m in July. The markets are expecting a rebound on Wednesday, with GDP projected to rise by 0.2% m/m in August. For the three months to August, GDP is expected to increase by 0.3%, up from 0.2% in...
The British pound is higher on Tuesday. In the North American session, GBP/USD is trading at 1.2273, up 0.29%.
The Bank of England's financial policy committee (FPC) voiced concern about consumer borrowing. The FPC noted that consumers were taking longer mortgages and increasing spending on credit cards in response to being squeezed by higher interest rates and...
The Australian dollar lost ground earlier in the day but has pared these losses. In the North American session, AUD/USD is trading at 0.6381, down 0.05%.
The markets are braced for a deceleration in consumer and business confidence indicators, which will be released on Tuesday. Westpac consumer confidence change is expected to decline by 0.7% in October,...
The Canadian dollar is showing limited movement on Friday. In the North American session, USD/CAD is trading at 1.3705, almost unchanged. USD/CAD gained ground immediately after the nonfarm payroll report but has given up these gains.
The week ended with better-than-expected job growth in both Canada and the US. Canada's economy created 63,800 jobs in September,...
The Canadian dollar has steadied on Thursday. In the North American session, USD/CAD is trading at 1.3728, down 0.12%.
The Canadian currency has stabilized after a nasty four-day slide, in which it declined 1.9%. The US dollar continues to look strong against the majors, as "US exceptionalism" continues to make the greenback attractive to investors.
The Canadian...
The euro has stabilized on Wednesday and is in positive territory. In the North American session, EUR/USD is trading at 1.0519, up 0.50%.
Germany is the largest economy in the eurozone. Once a global powerhouse, the economy has weakened and finds itself in the unfamiliar position of being a laggard in the bloc. Recent economic releases haven't been encouraging,...
The New Zealand dollar is sharply lower for a second straight day. In the North American session, NZD/USD is trading at 0.5904, down 0.71%.
It has been an awful week so far for the New Zealand dollar, which is down 1.55%. NZD/USD tends to have a positive correlation with AUD/USD and the Aussie fell sharply today after the Reserve Bank of Australia held rates for...
The euro is sharply lower on Monday. In the North American session, EUR/USD is trading at 1.0495, down 0.75%. The euro continues to struggle and has reeled off 10 straight losing weeks, with EUR/USD sliding some 700 basis points during that time.
Germany's manufacturing sector continues to struggle. In September, the Manufacturing PMI was revised lower to 39.6...
