It’s 3PM GMT so let’s take a look at what’s been moving and shaking on the FX markets this Thursday.
The biggest mover of the day is the Pound/Loonie, which started losing ground quickly around 6AM this morning, and it has posted a total loss of point 75%.
Despite weaker-than-anticipated data from Canada, stronger oil prices have managed to keep the Loonie as the top advancer of the day, trading slightly higher than the Swissie.
Credit Suisse has argued the RBA will keep it’s rate unchanged for the rest of this year, and the AUD trades point 13% above the greenback.
The common currency has given back a bit of its ground against the majors, trading point 12% above the safe haven Yen.
The Reserve Bank of New Zealand’s dovish stance and weaker-than-expected rate cut puts the Kiwi Dollar as the most bearish of the commodity trio, and it sits point 12% higher than the Pound.
So let’s take a look at how the currency’s have been performing over the past week. The top advancer is the Aussie/Yen which has gained 1.42%, and the Sterling/Aussie has declined by 2.28% over the past week. And on our monthly chart it is the Euro/Pound which has seen the biggest rise of 2.46%. And the Sterling/Yen has lost 4.62% making it the months most bearish pair.
I’m Celeste Skinner and these were the movers and shakers of the day. Tune in tomorrow to see how the market has been performing on Friday. See you then.
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