Breaking News
December 11
2020

Canadian Dollar Pauses 2020 Rally Against US Peer Amid Falling Crude Prices

The Canadian dollar weakened against its US peer to close out the trading week, with energy prices and producer prices coming into focus. The loonie is still on track to record a modest weekly gain against the greenback, but its overall 2020 performance in the foreign exchange markets has been remarkable. According to preliminary estimates from Statistics Canada, the producer price index (PPI) slumped 0.6% in November, up from […]

Read more
December 11
2020

Pound Crashes Against Dollar As No-Deal Brexit Appears Imminent

The Sterling pound today plunged against the dollar after both EU and UK leaders said that the possibility of a no-deal Brexit was quite high at the moment. The GBP/USD currency pair fell on the reports given that many investors were hoping that the EU and UK would agree to a compromise deal. The GBP/USD currency pair today fell from a high of 1.3324 in the late Asian market to a low of 1.3184 in the early London session and was […]

Read more
December 11
2020

USD/JPY 104.57 High Starting a New Bearish Leg?

The US dollar versus the Japanese yen currency pair seems to be under constant bearish pressure. Is this really so? Long-term perspective Following the 109.08 level false piercing, as the high of 109.85 highlights, the pair entered into a descending trend limited by the trendline that starts from 108.16. Like so, the trend extended until a hair away from the intermediary level of 103.15. From there, a convinced appreciation came into […]

Read more
December 10
2020

Euro Rallies After ECB Extends Stimulus Plan by €500Bn, Maintains Rates

The euro today rallied higher against the dollar after the European Central Bank extended its stimulus programme and did not sound too dovish. The EUR/USD currency pair’s rally was also boosted by the upbeat market sentiment towards the single currency and the weak greenback. The EUR/USD currency pair today rallied from a low of 1.2078 in the Australian market to a high of 1.2158 in the American session but later gave up some of its gains.  […]

Read more
December 10
2020

US Dollar Slumps Amid Worse-Than-Expected Initial Jobless Claims, Stimulus Standstill

The US dollar is struggling to hold onto its weekly gain against some of its key currency pairs as the number of Americans filing for first-time unemployment benefits surged to its highest level since September. Higher inflation and fiscal stimulus negotiations stuck at a standstill weighed on the greenback. How much more room is there for the buck to fall to wind down 2020? According to the Bureau of Labor Statistics (BLS), initial jobless claims […]

Read more
December 10
2020

Pound Crashes Against Dollar on Brexit Talks Failure and Mixed UK Data

The Sterling pound today fell against the dollar fueled by news that there was no breakthrough in yesterday’s Brexit talks between the EU and UK leaders. The GBP/USD currency pair’s decline was also fueled by the mixed UK data released earlier today and the predominantly negative investor sentiment. The GBP/USD currency pair today fell from a high of 1.3389 in the Australian market to a low of 1.3332 in the early London session and was headed lower […]

Read more
December 10
2020

Bears Might Put Pressure from 1.7132 on GBP/CAD

The Great Britain pound versus the Canadian dollar currency pair seems to be taken over by the bears. Can the bulls pull off a comeback? Long-term perspective The fall that came about after the validation of the firm resistance area of 1.7567 extended until the 1.6810 low. From there, the bulls started to recover, as the series of higher lows and highs suggest. During their path, the bulls validated as support each and every intermediate level they […]

Read more
December 9
2020

Greenback Firms After US Stocks Sink

The US dollar firmed by the end of Wednesday’s trading session, trimming losses against some peers and erasing them completely against others. Market analysts pointed at the slump of the US stock market as the likely reason for the recovery of the greenback. All US stock indices were trading in the red on Wednesday. S&P 500 dropped by almost 1%, while NASDAQ slumped by about 2%. Experts provided a somewhat surprising explanation for the slump of equities — optimism among […]

Read more
December 9
2020

Euro Soft Ahead of ECB Monetary Policy Meeting

The euro was soft today, falling against almost all most-traded currencies. The only exception was the New Zealand dollar, which failed to maintain the intraday rally versus the euro. While domestic macroeconomic data was somewhat disappointing, the upcoming monetary policy meeting of the European Central Bank was the main driver for the common currency of the eurozone. The European Central Bank will make its last monetary policy announcement this year […]

Read more
December 9
2020

Canadian Dollar Mixed After BoC Keeps Monetary Policy Unchanged

The Bank of Canada held a monetary policy meeting today and announced after its conclusion that the policy remains unchanged. The Canadian dollar was not demonstrating a clear trend after the announcement, falling against some rivals and rising versus others. As was widely expected, the BoC decided to stay pat, keeping its benchmark interest rate at 0.25% and the size of the quantitative easing program at least C$4 billion per week. The central bank […]

Read more