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Day: February 13, 2020
February 132020
Japanese Yen Strengthens on Safe-Haven Demand Despite Bearish Outlook
The Japanese yen is strengthening against major currency rivals on Thursday, despite a myriad of bearish outlooks by both the federal government and international bodies. A string of weak economic data also could not affect the yen toward the end of the trading week as investors continued to pour into the traditional safe-haven asset amid global uncertainty due to the Wuhan coronavirus outbreak. Earlier this week, the January Eco Watchers Outlook survey plunged from […]
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February 132020
Pound Rallies to 1-Week Highs as PM Johnson Reshuffles His Cabinet
The Sterling pound today rallied to 1-week highs as the British Prime Minister Boris Johnson announced a major cabinet reshuffle that saw several ministers replaced. The GBP/USD currency pair started rallying hours before the official announcement as some ministers such as Sajid Javid resigned ahead of the reshuffle. The GBP/USD currency pair today rallied to a high of 1.3069 as the reshuffle proceeded having risen from a low of 1.2944 in the late Asian session and was […]
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February 132020
Euro Falls to Three-Year Low vs. Franc on Coronavirus Fears, Economic Data
The euro was weak today, falling for the sixth consecutive day to the lowest level in three years against the Swiss franc. Risk aversion caused by an unexpected surge of infected people in China was weighing on the shared 19-nation currency, while eurozone macroeconomic data was not helping as well. The coronavirus disease named COVID-19 continued to spread across China, and the sudden surge of the number of infected people concerned investors greatly. Chinaâs Hubei province, […]
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February 132020
Kiwi Pulls Back After Surging on RBNZ Decision, Trims Losses Later
The New Zealand dollar retreated today after yesterday’s surge caused by the central bank’s monetary policy announcement. But by now, the currency has trimmed its losses and trades not that far from the opening level. The market sentiment put pressure on the currency as traders continued to be worried about the spreading Wuhan coronavirus. The Reserve Bank of New Zealand left its benchmark interest rate unchanged at 1% yesterday. While such […]
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February 132020
Bulls Failing to Conquer 73.93 on AUD/JPY
The Australian dollar versus the Japanese yen currency pair gives signs that the appreciation may be over. Is it so or the traders may be in for a surprise? Long-term perspective The ascending trend that started after the confirmation of the 71.09 level as support extended until the peak of 76.54 and ended after the confirmation as a resistance of the 76.02 level sent the price plumbing towards 73.93. The strong fall from the resistance of 76.02 pierced the 73.93 support […]
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