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Day: January 30, 2020

January 30
2020

Euro Rises on German Inflation Data and Flash US GDP Report

The euro today inched higher against the US dollar as it struggled to shake off the selling pressure that has kept the EUR/USD currency pair trading in a tight range. The single currency posted gains in the American session despite the release of mixed German inflation data accompanied by in-line preliminary US Q4 GDP figures. The EUR/USD currency pair today rallied from a low of 1.1006 in the early European session to a high of 1.1036 in the American […]

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January 30
2020

Japanese Yen Gains Despite Investors Selling Equities Amid Coronavirus

The Japanese yen is posting modest gains against multiple currency rivals on Thursday as investors appear to be ignoring equities while diving into the traditional safe-haven asset. The Wuhan coronavirus is reportedly worsening with deaths topping 100 and the number confirmed cases exceeding 7,000 in every region of China. Japanese officials are warning that the outbreak could significantly affect the world’s third-largest economy in the near-term, hurting the country’s attempts […]

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January 30
2020

Sterling Pound Spikes to 3-Day Highs on Hawkish BoE Rate Decision

The sterling pound today spiked to its daily highs following the announcement of the Bank of England‘s interest rate decision, which was as expected. The GBP/USD currency pair rallied from its daily lows as investors interpreted the BoE’s decision as being hawkish. The GBP/USD currency pair today rallied from a daily low of 1.2978 in the early London session to a high of 1.3095 shortly after the BoE news and was headed higher at the time of writing. The currency […]

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January 30
2020

Coronavirus Fears Make Swiss Franc Strongest on Forex Market

The Swiss franc was the strongest currency on the Forex market today, followed by the Japanese yen. Risk aversion was ruling markets as the coronavirus, which originated in China, continued to spread. Fears resulted in a rising demand for safe currencies, like the Swissie and the yen. Domestic economic data provided additional support for the currency of Switzerland. The KOF Economic Barometer rose to 100.1 in January from 96.2 in December. The actual figure was far above the median forecast […]

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January 30
2020

NZ Dollar Among Weakest Currencies Despite Trade Surplus

The New Zealand dollar, together with its Australian counterpart, was the weakest among most-traded currencies on the Forex market today. Like the Aussie, the kiwi was unable to profit from better-than-expected domestic macroeconomic data. Statistics New Zealand reported that the trade balance turned to a surplus of NZ$547 million in December from a deficit of NZ$791 million in the preceding month. Economists had predicted a much smaller surplus of NZ$100 million. Exports rose […]

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January 30
2020

Australian Macroeconomic Data Beats Expectations, Aussie Unimpressed

The Australian dollar fell against its most-traded rivals today despite the better-than-expected domestic macroeconomic data. The Aussie, as well as other commodity currencies, continued to be dragged down by fears of the coronavirus that has originated in China but is now spreading across the world. The Australian Bureau of Statistics reported that import prices rose by 0.7% in the December quarter of 2019, whereas analysts had expected the same 0.4% rate of increase as in the previous […]

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January 30
2020

AUD/NZD Delays the Advancement Towards 1.0530

The Australian dollar versus the New Zealand dollar currency pair seems to have a hard time gaining further momentum towards the upside. Are the bulls not ready yet or it’s just that they don’t have the power? Long-term perspective The depreciation that began from the peak of 1.0865 extended beyond the weekly support of 1.0361, reaching 1.0307. But that low was a very short-lived event, as the bulls quickly sent the price […]

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