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Day: March 18, 2020
March 182020
US Dollar Rallies Despite Mixed Data As Investors Pour Into Safe-Haven Asset
The US dollar is rallying against many major currencies midweek as investors continue to pour into the traditional safe-haven asset. Despite mixed economic data, the greenback is trading at its best level in three years throughout the Covid-19 pandemic that has crippled the global economy and paralyzed global financial markets. Last month, retail sales tumbled 0.5%, down from the 0.6% jump in January. The market had penciled in a 0.2% […]
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March 182020
Canadian Dollar Crashes Against US Peer on Falling Crude Oil Prices
The Canadian dollar today fell against its US peer as global crude oil prices fell to new lows as Saudi Arabia plans to up production as the oil price war heats up. The USD/CAD currency pair rallied to the 1.4400 high that was last seen in 2016 as demand for the greenback soared driven by the dominant risk-off market sentiment. The USD/CAD currency pair today rallied from a low of 1.4166 in the Asian session to a high […]
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March 182020
Pound Crashes as Investors Prepare for Worsening UK Conditions
The British pound today crashed to new lows against the US dollar as investors fled the pound amid widespread coronavirus fear in the United Kingdom. The GBP/USD currency pair’s woes were associated with investors’ adverse reaction to the British government’s delayed response to the coronavirus pandemic. The GBP/USD currency pair today fell from an opening high of 1.2129 to a low of 1.1828 in the early North American session and was headed lower at the time of writing. The currency […]
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March 182020
NZ Dollar Retreats After Short-Lived Rally
The New Zealand dollar fell today against other most-traded currencies, logging the fifth consecutive session of decline against its US counterpart. While the kiwi rose a bit yesterday after the government announced a stimulus package, the rally was short-lived as risk aversion dragged the currency down. Yesterday, the New Zealand government unveiled a massive NZ$12.1 billion stimulus package, which equals 4% of the country’s GDP. Finance Minister Grant Robertson […]
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March 182020
Can AUD/JPY Fall More from 64.12?
The Australian dollar versus the Japanese yen currency pair continued declining. But the bulls might be just around the corner. Long-term perspective After confirming the support of 71.09, the price entered an appreciation phase that extended to as high as 76.54. After that, the price confirmed 76.02 as resistance, pierced 73.93 and confirmed it as resistance, and then continued declining, puncturing 71.09. After 71.09 was confirmed as resistance, the price further depreciated and then […]
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