Day: April 19, 2017

April 19
2017

Canadian Dollar Drops for Second Day

The Canadian dollar dropped against its US counterpart today, falling for the second consecutive day, as geopolitical tensions were mounting. The loonie declined against other most-traded peers as well due to the drop of crude oil prices. Crude oil is the biggest export commodity of Canada, therefore moves of its prices tend to have a big impact on performance of the Canadian currency. Today, futures for crude tumbled more than 2%, dragging the loonie […]

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April 19
2017

Dollar Logs Limited Rally

The US dollar rallied today, though the gains were limited as rising geopolitical tensions were not adding to the appeal of the currency, despite its role as a safe haven. Analysts described today’s gains of the greenback as a relief rally after yesterday’s big losses against some of its rivals, like the euro and the Great Britain pound. Over the longer term, though, the situation does not look good for the US currency. Doubts about the ability […]

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April 19
2017

Market Sentiment Drags Aussie Dawn Despite Positive Data

The Australian dollar fell today, dropping for the second consecutive day against its most-traded rivals, as the market sentiment remained unfavorable to riskier currencies linked to commodities and growth. Positive domestic macroeconomic data did not help the Australian currency that much. Australian new motor vehicle sales rose 1.9% in March from the previous year on seasonally adjusted basis. The Westpac-Melbourne Institute Leading Index rose in March from February, and the report […]

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April 19
2017

Pound Consolidates Following Tuesday’s Rally

The Great Britain pound was in a consolidation mode today following yesterday’s rally caused by the surprise announcement of a snap general election in Britain this year. The sterling traded flat for the most part against its major peers, though rose a bit against some of them, including the Japanese yen. British Prime Minister Theresa May announced surprise elections in a bid to consolidate power as her political party currently is popular among […]

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