The Canadian dollar dropped today, reaching the lowest level since March 2009 against the US dollar, as crude oil prices resumed decline, joining other commodities in free fall. Crude oil failed to hold onto yesterday’s gains, sinking more than 1 percent during Wednesday’s trading. The West Texas Intermediate grade fell below the $50 per barrel level for the first time since April. Crude accelerated its […]
Read moreThe US dollar was struggling during today’s trading session but found support in the form of housing data that was better than analysts’ expectations. As a result, the greenback managed to gain on the euro and the Japanese yen. The US currency also was able to trim its losses versus the Great Britain pound. This week is light on economic data, and this means that even single report can affect the market considerably. […]
Read moreThe Great Britain pound demonstrated solid performance today even though the minutes of the nation’s central bank policy meeting showed that UK policy makers are rather cautious in their outlook regarding the monetary policy. The Bank of England released Bank of England of its July meeting, and they showed that the decision to hold interest rates stable was unanimous and “clear cut.” The BoE members were worried that, while the UK […]
Read moreThe Australian was little changed today, trading slightly below the opening level but far above the session lows. In fact, the currency barely moved during the past couple of weeks. Australia’s Consumer Price Index rose 0.7 percent in the second quarter of this year from the previous three months, in line with expectations. Inflation accelerated from the first quarter when it was at 0.2 percent. Yet the positive data did […]
Read moreEUR/USD pulled back today after climbing 1 percent yesterday. The currency pair was moving sideways for the most part of the Wednesday’s session but has dipped recently and currently continues to move down. Existing home sales demonstrated an increase to the seasonally adjusted annual rate of 5.49 million in June from the downwardly revised 5.32 million in May. The actual value exceeded the median analysts’ estimate of 5.40 million. (Event A on the chart.) US […]
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