Day: August 27, 2018

August 27
2018

Mexican Peso Rallies on US-Mexico Trade Agreement

The Mexican peso is rallying against its American counterpart on Monday after officials announced a new US-Mexico trade agreement that would scrap the North American Free Trade Agreement (NAFTA) name because of â€œbad connotations.” The two nations will now wait to see if Canada will agree to a bilateral pact with Washington. After months of tough negotiations, the US and Mexico reached a deal that they say will […]

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August 27
2018

Canadian Dollar Rallies amid NAFTA Hopes

The Canadian dollar rallied against its major peers today (though failed to gain on the strong euro) after the United States and Mexico reached a preliminary trade agreement, giving hope that the similar deal can be reached with Canada. Over the weekend, the USA and Mexico reached a preliminary deal that should replace the North American Trade Agreement. While Canada was excluded from the negotiations, the success of the talks led to hopes […]

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August 27
2018

Euro Halts Drop to Rally Higher on Upbeat German IFO Data

The euro today halted its slide against against the US dollar following the release of the upbeat German IFO business survey data in the early European session. The EUR/USD currency pair was under intense selling pressure today as the greenback recovered from Friday’s selloff, which was triggered by the Fed Chair Jerome Powell‘s dovish speech. The EUR/USD currency pair today dropped from an opening high of 1.1645 to hit a low of 1.1594 before […]

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