The Canadian dollar is trading lower against a basket of currencies on Thursday as an influx of mixed data is driving the loonie’s short-term performance towards the end of the trading week. The slumping economy is not giving consumers a ton of confidence, suggesting that they may not be as adamant to consume. According to Statistics Canada, exports surged 3.2% to $49 billion in March, driven by energy products, automobiles, mining, and aerospace technology. Imports to Canada […]
Read moreThe euro today spiked to new weekly highs against the US dollar in the early American session as the greenback dropped significantly against its peers. The EUR/USD currency pair later retraced some of its gains, but remained in positive territory as high-level US-China trade talks resumed. The EUR/USD currency pair today rallied from a low of 1.1172 in the European session to a high of 1.1250 in the American session before retracing some of its gains. The currency […]
Read moreEUR/USD rallied today while traders were waiting for the outcome of US-China trade negotiations. US macroeconomic data was decent for the most part, though unemployment claims were disappointing. PPI rose 0.2% in April, in line with expectations, after rising 0.6% in March. (Event A on the chart.) US trade balance deficit widened to $50.0 billion in March from $49.3 billion in February, revised. Analysts had predicted a bigger increase to $51.4 […]
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