The Canadian dollar is anticipated to strengthen less than previously expected over the upcoming year, according to a recent Reuters poll. An analysis conducted by 40 foreign exchange analysts suggested that the loonie will remain relatively stable at 1.37 per U.S. dollar in the next three months, with a slight increase to 1.33 in a
Forex
The U.S. dollar has seen a significant increase in strength in early European trade, bouncing back from two-month lows. The Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 104.265. This increase comes after the dollar dipped below 104 for the first time since early April earlier this
The dollar is currently facing a downward spiral, hitting its lowest point against the euro and sterling since March. This decline is primarily driven by signals of a weakening U.S. economy, which have increased the likelihood of earlier Federal Reserve interest rate cuts. The recent data indicating a slowdown in manufacturing activity and a decline
The recent Mexican presidential election shook the financial markets as the ruling Morena party secured a strong victory, surpassing expectations and causing the peso to plummet by 4.1% against the dollar. The landslide victory for Claudia Sheinbaum, coupled with the potential for a super-majority in parliament, provoked concerns among investors about potential constitutional changes that
The recent changes in the Russian government’s requirements for mandatory sales of foreign currency for exporters highlights a shift in policy aimed at stabilizing the rouble. President Vladimir Putin imposed capital controls in October to address capital outflows and limited foreign currency supply. The measures targeted companies in the fuel, energy, metal, chemical, timber, and
The U.S. dollar saw a slight increase in early European trade, following a period of losses, particularly after the reported 1.3% annualized growth rate of the U.S. economy in the first quarter. This led to speculation in the market regarding future interest rate adjustments, with a 55% chance of rate cuts in September according to
Asian markets saw a decline in their currencies on Thursday as the US dollar saw a rise to two-week peaks. This increase came amidst caution as investors awaited key cues on US inflation and interest rates in the coming days. The Federal Reserve’s recent hawkish signals have left regional currencies reeling, as officials emphasize the
The dollar has seen a boost in May, with rising expectations that the Federal Reserve will delay any rate cuts until later in the year. This has been supported by crucial inflation readings that are set to take place this week. The Federal Reserve’s preferred measure of inflation, the core personal consumption expenditures (PCE) price
The recent movements in the global currency markets have been largely influenced by a slight pick up in risk appetite. The dollar has waned, while currencies like the euro, sterling, and the New Zealand dollar have seen some upward movement. Despite dovish comments from European Central Bank (ECB) policymakers and stagnation in German business morale,
It is evident that most European and Asian currencies are experiencing a period of stagnation. The lack of significant movement in these markets can be attributed to a combination of factors, including market holidays in the U.S. and the U.K. which have limited trading volumes. Additionally, recent statements from Federal Reserve officials have caused traders