The British pound has been calm for most of the week and has edged lower on Thursday, trading at 1.1936 in the North American session. The UK economic calendar has been brimming all week, and Friday will be busy with retail sales and PMI reports. The markets are expecting retail sales to slow in June - headline retail sales is expected at -5.3% YoY, following the...
The Australian dollar started the week with gains of close to one percent but has been mostly drifting since then. AUD/USD is trading quietly, just below the 0.71 line. It hasn't been a very good week on the Australian release front, raising concerns that the economy may be slowing down. Manufacturing and Services PMIs both slowed in May, while Construction Work...
The British pound has started the New Year in negative territory. GBP/USD has dipped just below the symbolic 1.35 level. The British pound ended 2021 with a winning week, gaining 1.03%. It was the second week in a row in which GBP/USD gained over 1%, as the risk-sensitive pound continued to make inroads against the safe-haven US dollar. On Thursday, GBP/USD rose...
The British pound continues to have an uneventful week and the lack of activity has continued in the Friday session. GBP/USD has been trading close to the 1.38 level for most of the week and is currently at 1.3804, up 0.09% on the day. UK Retail Sales declined by 0.2% in September. This is a cause for concern, given that retail sales have now declined for three...
The Australian dollar has reversed directions on Wednesday and recorded considerable losses. In the European session, AUD/USD is trading at 0.7750, down 0.52% on the day. Investors gave the Aussie a thumbs down on Wednesday after Westpac Consumer Sentiment fell 4.8% in May. The trend of improving consumer confidence over the past three months was broken. Still, a...
The euro is showing little movement on Wednesday. In the North American session, EUR/USD is trading at 1.2005, down 0.06% on the day. Business activity across the eurozone remains weak, as reflected by eurozone Services PMIs for April, which were released earlier on Wednesday. The German, eurozone and French releases were all close to the 50.0 level, which...
The euro continues to head south in Wednesday trading. Currently, EUR/USD is trading at 1.1828, down 0.17% on the day. Just four weeks ago, EUR/USD was basking above the 122 level and looking strong against the US dollar. Fast forward to the present, and the euro is struggling to keep above the 1.18 level as its trades at its lowest level since November 23rd....
The euro is showing limited movement in the European session. Currently, EUR/USD is trading at 1.2035, down 0.10% on the day. The euro hasn't managed a winning day since Thursday, and the pair is perilously close to the 1.20 line, which is a psychologically important level. Germany is the eurozone's largest economy and has traditionally been the economic...