The Mexican peso is rallying on Monday after the US, Canada, and Mexico announced a new trilateral trade agreement called the USMCA, abandoning the North American Free Trade Agreement (NAFTA) term. The pesoâs strong performance to kick off the trading week comes after recording an admirable third-quarter performance among emerging-market currencies. Hours before the key US-imposed October 1 deadline, the three nations announced a new trade pact that will […]
Read moreThe Great Britain pound gained on its most-traded rivals today on the reports that the United Kingdom is willing to compromise to reach a trade deal with the European Union. The currency has trimmed its gains by now but was trading above the opening level against most peers, though retreated to the opening level versus the US dollar. According to reports, Britain is willing to keep borders between Northern Ireland and the Irish Republic […]
Read moreThe Australian dollar was mostly flat against its most-traded rivals today following macroeconomic releases. While domestic data was largely positive, reports released from China, Australia’s biggest trading partner, over the weekend were mixed. China’s official manufacturing Purchasing Mangers’ Index fell to 50.8 in September from 51.3 in August, missing the consensus estimate of 51.2 and touching the lowest level since February. The Caixin China Manufacturing […]
Read moreThe Canadian dollar rose sharply today after the news that Canada will join the trade agreement with the United States and Mexico after all. The currency opened sharply higher and proceeded to move up. Just when it looked like Canada will be left out of the US-Mexico trade agreement, politicians managed to find a consensus. The new United States-Mexico-Canada Agreement will replace the old North American Trade Agreement. Under […]
Read moreEUR/USD opened above the Friday’s close as the European markets were boosted by risk appetite caused by the news about a new trade deal that includes Canada along with the United States and Mexico. The currency pair retreated over the trading session, though. As for US economic reports, they were confusing as the Markit manufacturing PMI rose last month, while the manufacturing index reported by the Institute for Supply Management declined. Markit manufacturing PMI […]
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