Forex News

The Eurozone Manufacturing PMI Enters Expansion Zone

  The euro dollar declined against the greenback despite the release of better-than-anticipated Italy, France, and German manufacturing PMI. The Eurozone final manufacturing PMI indicated a rebound in industrial activity. One of the reasons for the US dollar gaining momentum

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Pound Strengthens on Surge in UK Mortgage Approvals in June

  The pound gained against the greenback yesterday after the Bank of England reported better-than-anticipated mortgage approvals and net lending data for June. Notably, all the economic data from the US, namely goods trade balance, preliminary wholesale inventories, and pending

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Euro Hits 22-Month High on Strong German Business Sentiment

  The eurodollar recorded a 22-month high against the greenback after the German Ifo Institute reported an upbeat business sentiment index for July. The lower-than-anticipated core durable goods orders growth for June, reported by the US Census Bureau, also aided

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U.S. Existing Home Sales Surge at a Record Rate in June

  The U.S. dollar declined against the Canadian dollar yesterday following the release of unsatisfactory House Price Index data and a sharp increase in the crude oil inventories. Existing home sales data reflected a sharp rebound in June, but missed

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European Central Bank’s Current Account Surplus Falls in May

  The Eurodollar rose against the yen in the Asian session yesterday after the Japanese trade deficit data missed economists’ estimates. However, the report of lower-than-anticipated PPI data from Germany and a sharp decline in the Eurozone’s current account surplus

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Canadian Dollar Gains As Manufacturing Sales Improve in May

  The Canadian dollar gained against the greenback yesterday following the release of better than anticipated manufacturing sales data for May. The loonie’s gain was also aided by the Bank of Canada’s decision to leave the benchmark interest rate unchanged

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EC President Presents €1.074 Trillion COVID-19 Recovery Package

  The Australian dollar rallied against the euro dollar in the Asian session on Monday as expectations for a COVID-19 drug improved risk-on sentiment. However, the euro dollar was able to bounce back after the Economy Ministry of Germany, the

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Japan’s Current Account Surplus Widens to ¥1.176 Trillion in May

  The Swiss franc rallied against the yen yesterday following the report of an almost stable unemployment rate in Switzerland. Notably, current account surplus and bank lending data published from Japan was also better-than-anticipated. However, the geopolitical issues between China

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Eurozone Retail Sales Rose 17.8% Month Over Month in May

  The euro dollar gained ground against the greenback yesterday after the release of German factory orders data that signaled a rebound in May. The robust increase in the Eurozone retail sales is also another reason for the euro dollar’s

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Australian Building Approvals Decline By 16.4% m-o-m in May

  The Aussie rallied against the greenback yesterday despite the release of worse-than-anticipated building approval data by the Australian Bureau of Statistics (ABS). The release of positive but lower-than-anticipated ADP Non-Farm Employment data from the US aided the Australian dollar’s

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