The New Zealand dollar is the most losing currency for the second day in a row
Today, Friday, the currency market suffered various losses focused on commodity currencies, so the list of losing currencies came during today's trading, four currencies from the list of major currencies, retreating sharply. The list is the Canadian dollar, and the losses of these three currencies ranged between -3.97% and -1.03% on average, here is more detail on the reasons for the decline of these currencies in today's trading today.
New Zealand Dollar loses the most NZD/USD
The New Zealand dollar suffered the biggest losses in the currency market for the second day in a row, as investors' risk appetite declined sharply, reducing demand for commodity currencies characterized by a strong proportion of risk, the most important of which is the New Zealand dollar, which fell in today's trade against other currencies by a hefty percentage of around 3.97%.
Australian dollar second loser AUD/USD
The Aussie dollar came in today losing, offsetting the gains it made yesterday, and this is also due to the Aussie dollar being one of the high-risk commodity currencies, and with the aversion risked in the markets, the Australian dollar took huge losses like its New Zealand counterpart, losing against the other major currencies and falling around 3.75%.
The British pound lost for the second day in a row GBP/USD
Today, the British Pound lost ground as fears of bullish inflation returned to the UK economy, as well as the aftermath of Omicron and its rising momentum.
In addition to the release of UK retail sales data today, which turned negative as it fell 3.7%, when the value was only expected to decline 0.6%, the pound sterling has therefore lost today by about 1.23% against other currencies.
The Canadian dollar is at the bottom of the list of losing currencies CAD/USD
The Canadian dollar was the last of the losers today in the currency market at a reasonable rate, and this is in light of today's sharp drop in oil prices as much of the strength of the Canadian currency depends on the strength of the oil markets, and they have a direct relationship: the higher the oil prices, the higher the value of the Canadian dollar against other currencies, and vice versa.
Investors are now awaiting the release of Canadian retail sales data, which will be out any minute and is expected to rise 1.2% from the previous reading, which was around 1.6. %.
As a result, the Canadian dollar depreciated against other major currencies at a significant rate of approximately 1.03%.
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| The New Zealand dollar is the most losing currency for the second day in a row |
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