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Day: August 28, 2018
August 282018
Canadian Dollar Touches Three-Month High on US Trade Deal Hopes
The Canadian dollar is nearing its best level in three months as investors are hopeful that a new trade deal can be reached with the US and Mexico. After President Donald Trump and his administration announced a new trade pact with Mexico, the White House confirmed it will now concentrate its efforts on Canada, hopefully coming to a trilateral arrangement before the midterm elections in November. On Monday, the US and Mexico […]
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August 282018
Pound Rallies Higher on Risk-On Sentiment and Weak US Dollar
The British pound today rallied higher against the US dollar in a move that was largely fueled by the greenback’s decline following yesterday’s geopolitical events. The trade deal announced between the US and Mexico triggered a risk-on sentiment across the global financial markets, which triggered a significant selloff of the US dollar boosting the pound. The GBP/USD currency pair today rallied from a low of 1.2860 in the Asian session to a high of 1.2920 in the early American session. […]
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August 282018
EUR/USD Rallies After US-Mexico Trade Talks Spur Optimism
EUR/USD rallied for the third consecutive trading session today amid risk appetite on the Forex market. The positive outcome of the preliminary trade talks between the United States and Mexico led to hopes that an agreement with other US trade partners, including the European Union, can be reached. The currency pair halted its rally after the release of positive US macroeconomic data but retained its earlier gains. S&P/Case-Shiller home price […]
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