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Day: January 8, 2020
January 82020
Canadian Dollar Weakens on Falling Crude Prices, Disappointing Exports
The Canadian dollar is weakening against multiple currency rivals midweek as energy prices are hitting the loonie. President Donald Trump confirmed that Iran is âstanding downâ in the intense Middle East conflict, sending futures plunging. The loonie was also impacted by disappointing export data. Despite being one of the top-performing G20 currencies, the Canadian dollar has had a rough start to 2020. Speaking at the White House on Wednesday, President […]
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January 82020
Euro Falls to 7-Day Lows on Depressed Market Risk Sentiment
The euro today fell to new weekly lows against the US dollar as the risk-off market sentiment persisted after Iran attacked US bases in Iraq. The EUR/USD currency pair’s decline was accelerated further by the release of weak data from the euro area earlier today. The EUR/USD currency pair today fell from an Asian session high of 1.1168 to a low of 1.1109 in the American session and was trading near these lows at the time of writing. […]
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January 82020
Australian Dollar Rebounds as Market Sentiment Calms Down
The Australian dollar fell intraday amid risk aversion caused by Iran’s missile attack on US military bases. But by now, the Aussie has managed to recover as investors continued to hope that the conflict will not result in a full-blown war. Currently, the Australian currency is trading about flat against most of its peers, though managed to gain on the euro and the Japanese yen. Domestic macroeconomic data was mixed, but building permits, […]
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January 82020
Yen Loses Gains Caused by Iran’s Attack on US Military Bases
The Japanese yen surged intraday on the news that Iran attacked US military bases in Iraq. But the resulting risk aversion waned quickly as investors continued to hope that the United States and Iran will avoid war. Reacting to such hopes, the yen reversed its gains and is now trading below the opening level. Domestic macroeconomic data was not helpful either as reports were not particularly good, and some of them […]
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January 82020
AUD/NZD Was Failed by the Weekly 1.0361 Support
The Australian dollar versus the New Zealand dollar currency pair passed under an important support. Is this break destined to be a false one? Long-term perspective The depreciation that started after the false break of 1.0837 breached important support areas along its way. The first one was the 1.0689 weekly and the second one the 1.0530 monthly. The downwards movement stopped just above the 1.0361 area in the form of a consolidation pattern. During […]
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