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Day: November 23, 2018
November 232018
Mexican Peso Weakens on Trump Border Threat, Incoming Government
The Mexican peso weakened against its American counterpart at the end of the trading week. The peso tumbled after President Donald Trump threatened to close the US-Mexico border. The currency is also struggling to rally as the nationâs incoming leftist government will soon come to power. Speaking to reporters on Thursday, President Trump said he is willing to shut down the entire US-Mexico Border and stop trade with the country should migrants from Central […]
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November 232018
USD/CAD Pair Drops Briefly on Upbeat Canadian Data, Quickly Recovers
The USD/CAD currency pair today briefly plunged lower after the release of positive Canadian inflation data, before quickly reversing higher. The currency pair managed to sustain its upward trend, which was in place from the start of today’s session, largely due to the depressed global oil prices. The USD/CAD currency pair today dropped back to its daily lows set at 1.3184 following the upbeat Canadian data, before rallying to a high […]
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November 232018
Euro Posts Massive Drop on Disappointing German PMI Data
The euro today dropped significantly against the US dollar following the release of disappointing German PMI data by IHS Markit in the early European session. The single currency had traded in a slight upward trend during the Asian session boosted by positive market sentiment and a weak US dollar before plunging lower. The EUR/USD currency pair today rallied to a high of 1.1421 before crashing to a low of 1.1345 after the disappointing eurozone PMIs. The currency pair […]
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