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Australian Dollar finds itself on shaky ground today, trading lower due to lackluster investor sentiment, and stays soft after RBA's decision to keep interest rates unchanged, a move that was widely anticipated. New Zealand Dollar is tracking its Australian counterpart, emerging as the day's second-worst performer. Canadian Dollar is not far behind, showing weakness ahead of tomorrow's BoC rate decision. In contrast, Dollar is holding the fort as today's strongest currency so far, followed by European majors led by Euro. Japanese Yen is showing a mixed performance, continui...

Dollar is making a powerful rally today, breaking through near-term resistance levels against all its major counterparts. This surge is anchored by recent economic data, which paints a picture of a US economy that is cooling but not cracking. This robustness stands in stark contrast to the weakening growth conditions seen in other major economies, as evidenced by today's disappointing services PMI data from China, Eurozone, and UK. Given the relative strength of the US economy, Fed might eventually find itself being the last among major central banks to initiate interest rate cuts. This s...

The British Pound failed near 1.2745 and declined again against the US Dollar. GBP/USD traded below the 1.2650 support zone to move into a bearish zone.

EUR/USD declines to two-month low Eurozone, Germany Services PMIs indicate contraction Eurozone inflation expectations steady at 3.4% The euro is back

Last week's business activity data from both sides of the Atlantic proved to be exceptionally weak. The euro came under selling pressure due to a decline in Germany's Services PMI from 52.3 to 47.3, which in turn pulled down the Composite Business Activity Indexes not only for Germany but for the entire Eurozone. The former dropped from 48.5 to 44.7, while the latter declined from 48.6 to 47.0. The GDP data for Germany for Q2, released on Friday, August 25, further confirmed that the economy of the united Europe is stagnating. On a quarterly basis, this metric stood at 0%, and on an ...