Day: May 9, 2019

May 9
2019

Canadian Dollar Slides on Mixed Data

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 […]

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May 9
2019

Euro Rallies on US Dollar Selloff Ignoring Trade Jitters, Later Drops

The 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 […]

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May 9
2019

EUR/USD Jumps as Sino-US Trade Talks Continue

EUR/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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