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Day: January 23, 2020
January 232020
Euro Falls on ECB Rate Decision and Dovish ECB Strategic Review
The euro today crashed to new monthly lows against the US dollar after the European Central Bank announced its rate decision and strategic review. The EUR/USD currency pair today fell to lows last seen on 2nd December 2019 amid a risk-averse market environment that saw most European equity indices close the day lower. The EUR/USD currency pair today spiked to a daily high of 1.1109 in the European session before falling […]
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January 232020
Mexican Peso Weakens As IMF Slashes Growth Estimates
The Mexican peso is weakening against several currencies on Thursday as the International Monetary Fund (IMF) cut its growth projections for the country. This comes as the unemployment rate fell last month to its lowest level in nearly two years and inflation came higher than expected. Earlier this week, the IMF issued its World Economic Outlook (WEO) update and warned that Mexicoâs gross domestic product (GDP) will rise […]
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January 232020
Australian Dollar Emerges Strongest After Employment Report
The Australian dollar rallied against all other of its most-traded rivals, even the Japanese yen, which itself was rather strong. The main reason for the Aussie’s great performance was a surprisingly good domestic employment report, which improved the outlook for monetary policy a bit. Even risk aversion prevailing on the market was unable to stop the Australian currency from rallying. The Australian Bureau of Statistics reported that the number of employed people in Australia […]
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January 232020
Japanese Yen Rallies on Returning Fears of Coronavirus
The Japanese yen gained against most other major currencies today, with the exception of the Australian dollar, which got a boost from domestic employment data. The resurging fears about the spread of the coronavirus from China were the main driver for the yen’s rally. Domestic macroeconomic data was also supportive of the Japanese currency. Markets were cautious after the news that China basically quarantined Wuhan, halting travel to the city. The city of 11 […]
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January 232020
AUD/NZD May Try a Turn Towards 1.0530
The Australian dollar versus the New Zealand dollar currency pair gives some signs that an appreciation is not that far from the realm of possibility. Is it so, or the bears are trying to persuade the bulls? Long-term perspective The depreciation that started after the price peaked at 1.0865 and confirmed as resistance the level of 1.0837 reached the area of 1.0361. Upon arriving at 1.0361, it tried to bottom, but the bears pushed it further […]
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