The volatility for the CAD is expected
Canada will release the level of core retail sales and CPI on March 22, at 14:30 MT time.
Evergreen buck struggles to rally
On Thursday, the evergreen buck gained support after data disclosed that the US economy demonstrated its strongest annual surge for 12 years. However, geopolitical worries held the US currency in check, pushing it back towards the intact mark.
Estimating the purchasing power of the American dollar versus its primary peers the USD index went down by 0.02% ending up with 96.02, rebounding from an intraday peak of 96.20.
On Thursday, the Bureau of Economic Analysis told that GDP posted a seasonally-updated annual rate of 2.6% surge for the last three months of last year, which is in line with hopes for it to dive from a rate of 3.4% in the third quarter.
Although a considerable deceleration from the explosive expansion observed in the third quarter, annual surge for the previous year still settled at a firm outcome of 3.1%, thus marking the first time since 2005 that annual surge has topped 3%.
The data managed to push the evergreen buck up, although enthusiasm started fading because fears over the fact American leader walked away from his summit with North Korean leader Kim Jong-Un with a negative outcome dominated markets.
The safe haven Swiss franc demonstrated strength versus the American dollar on the back of dismal data out of China overnight as well as remarks from US Trade Representative Robert Lighthizer who told it was too early to forecast a result in US-China trade talks. The currency pair USD/CHF declined by 0.39% being worth 0.9974.
The UK pound rebounded from a 7-month maximum versus the greenback, which was reached on Wednesday because British Prime Minister Theresa May was quite confident that a no-deal Brexit could be dodged.
The currency pair GBP/USD went down by 0.26% hitting 1.3272, rebounding from Wednesday’s intraday maximum of 1.3349.
Similar
Bitcoin conquers $4,000
On Thursday, key crypto assets managed to make some gains in Asia having lost ground for two days…
Greenback dives to wager on Fed rate reversal
On Thursday, the evergreen buck faced heavy losses in Asia because the key US bank shocked the financial markets by giving up all of its plans to have rates lifted in 2019, which appears to be an indication that its three-year campaign to stabilize its…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
