The Canadian dollar weakened to a four-week low on Tuesday ahead of the Bank of Canada (BOC)âs decision on interest rates. The market is anticipating a prolonged pause to rate hikes, which suggests that officials are not confident that the economy can withstand a move to normalize monetary policy. Investors also traded the loonie on rallying energy prices, as well as data that showed nearly half of Canadians are on the brink of insolvency. On Wednesday, the central bank […]
Read moreThe Sterling pound today traded at 2-month lows against the US dollar as European markets reopened following the long Easter weekend. The GBP/USD currency pair today fell to new lows as the greenback rallied higher in the American session amid a lack of releases from the UK docket. The GBP/USD currency pair today fell from a session high of 1.3019 in the early London session to a low of 1.2926 in the American session and was near these levels at the time […]
Read moreEUR/USD tumbled today despite there were no major events to explain the slump. Market analysts provided various possible reasons for the crash, including expectations of good earning reports for the first quarter from US companies and the divergence between monetary policy of the Federal Reserve and the European Central Bank. Whatever the reason, the currency pair erased gains of the previous two trading sessions and was trading at lows not seen since the beginning of the month. […]
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