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Day: January 7, 2020
January 72020
Loonie Shows Good Performance Despite Adverse Fundamentals
The Canadian dollar fared rather well today, rising against other most-traded currencies or at least staying flat against them. The notable exceptions were the US dollar and the Japanese yen. Losses versus the strong greenback were especially big. But overall, the loonie showed a rather decent performance considering negative macroeconomic data and falling prices for crude oil. Crude oil rallied yesterday on fears of supply disruptions that could be […]
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January 72020
Euro Falls on Middle East Tensions, Ignores Upbeat Eurozone Data
The euro today fell against the much stronger US dollar amid heightened political tensions in the Middle East as investors bought the safe-haven greenback. The EUR/USD currency pair was on a downward spiral from the start of the session ignoring upbeat eurozone releases, which accelerated after the release of upbeat US data. The EUR/USD currency pair today fell from an opening high of 1.1197 in the Asian session to a low of 1.1133 in the American session and was near […]
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January 72020
Franc Mixed as Market Sentiment Stabilizes, Domestic Data Supports
The Swiss franc was mixed today, rising against some currencies, staying flat versus others, and crashing against the US dollar and the Japanese yen. The market sentiment was stabilizing following yesterday’s risk aversion, limiting the appeal of safe currencies. Domestic macroeconomic data was positive and helpful to the Swissie. Markets started the week in a risk-off mode due to escalating tensions between the United States and Iran. But fears have started to wane […]
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January 72020
US Dollar Rallies As Trade Deficit Sinks to Three-Year Low
The US dollar is gaining momentum on Tuesday as new data revealed that the trade deficit fell to its lowest level in more than three years in November. With the US and Iran conflict potentially peaking, investors are gradually returning to equities and the greenback, which is evident in the slump in crude oil prices. A better-than-expected reading in the purchasing managersâ indexes (PMIs) also enhanced the buck’s strength. According to the Bureau of Economic Analysis (BEA), […]
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January 72020
Macroeconomic Data Makes Aussie Fall for Third Straight Session
The Australian dollar declined against all of its most-traded peers today despite the stabilizing market sentiment that was helping riskier currencies linked to commodities. The Aussie fell for third consecutive trading session versus most of its rivals, while against some it posted even a longer stretch of declines. Macroeconomic data was negative to the currency. ANZ Australian Jobs Advertisements fell by 6.7% in December on a seasonally adjusted monthly basis. […]
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January 72020
NZD/CAD May Now Be Heading for 0.8514
The New Zealand dollar versus the Canadian dollar currency pair surprised the market by turning around. Is there any chance of a comeback? Long-term perspective After confirming the weekly support of 0.8344, the price appreciated in a very convincing manner, managing to cross important levels, including 0.8692 — which is an old but important support level. Unfortunately for the bulls, the price was not able to maintain itself above the 0.8692 level, as after it […]
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January 72020
Japanese Yen Rises, Gains Limited by Lack of Demand for Safe Haven
The Japanese yen traded either flat or higher against other most-traded currencies today, but gains were nowhere near enough to reverse yesterday’s losses. Markets calmed down after a bout of fear caused by escalating tensions in the Middle East, limiting demand for safe-haven currencies. Markets were in a risk-off mode yesterday due to escalating tensions between the United States and Iran after the US military killed an Iranian general on Friday. Iran […]
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