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Day: March 23, 2020
March 232020
Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike
The Canadian dollar today spiked higher against the US dollar after the Federal Reserve announced massive quantitative easing measures causing the greenback to fall. The USD/CAD currency pair fell briefly before recouping its losses and heading higher as the dollar recovered and the Loonie was weighed down by weak crude oil prices. The USD/CAD currency pair today fell to a low of 1.4335 in the early American session before reversing course and rallying to a high […]
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March 232020
US Dollar Gains As Federal Reserve Announces Unlimited QE
The US dollar is gaining on a couple of major currency rivals to start the trading week, despite the Federal Reserve announcing a massive expansionary program to rescue financial markets. With volatility still plaguing equities, investors continue to dive into the greenback to shield themselves from the chaos. The buck may spike again as the federal government gets ready to pass a massive stimulus bill. On Monday, the US central bank unveiled that it is […]
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March 232020
Aussie Weak amid Lockdown, QE Bond Buying
The Australian dollar was among the weakest currencies on the Forex market together with its commodity-related counterparts today due to coronavirus panic that makes investors seek safer options. While it has trimmed its losses by now, the Aussie is still trading below the opening level against the majority of most-traded currencies. The Australian government announced lockdown to limit the spread of COVID-19, shutting down non-essential services. That includes pubs, […]
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March 232020
NZ Dollar Drops After RBNZ Announces QE Program
The New Zealand dollar dropped today after the Reserve Bank of New Zealand made a surprise announcement of a quantitative easing program. Currently, the kiwi has trimmed its losses but is still trading below the opening level against its most-traded counterparts, with the exception of the Australian dollar. The Aussie was dragged down by bond purchases under the quantitative easing program of its own central bank. The RBNZ made a surprise announcement […]
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March 232020
Is 0.5511 a Bearish Barrier on AUD/USD?
The Australian dollar versus the US dollar currency pair dropped until the 0.5511 level. The bulls may have some reasons to keep a close eye. Long-term perspective The fall that commenced after 0.6700 was confirmed as resistance continued and went as low as 0.5511. After touching the level, it retraced strongly, almost reaching the 0.6015 level. It can be considered that the price is now in the middle of a possible range, limited […]
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