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Day: April 21, 2020
April 212020
Pound Falls on Bearish Sentiment as UK to Test COVID-19 Vaccine
The Sterling pound today fell against the US dollar as investor sentiment remained decidedly bearish amid news that the UK was developing a COVID-19 vaccine. The GBP/USD currency pair fell despite the release of upbeat UK jobs data as investor risk appetite evaporated pushing the pair lower into negative territory. The GBP/USD currency pair today fell from an opening high of 1.2442 in the Asian session to a low of 1.2247 in the American session […]
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April 212020
Mexican Peso Falls 1% on Surprise Interest Rate Cut, Bearish Outlook
The Mexican peso is falling against the US dollar and other G10 currency competitors on Tuesday after the central bank surprised financial markets and cut interest rates. The peso weakened even further as officials are sounding the alarm about a significant crash in Latin Americaâs second-largest economy. On Tuesday, Banxico slashed the overnight rate by 50 basis points to 6% in response to a widely anticipated recession this year. This is the third rate […]
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April 212020
South Korean Won Weakens on Kim Jong-un âGrave Dangerâ Reports
The South Korean won has been weakening against multiple currency rivals since it was first reported that North Korean Supreme Leader Kim Jong-unâs health is in âgrave danger.â The won has slightly recovered, but investors appear to be waiting for confirmation that the dictator is in good shape. Since rising to power, Kim has been engaging with South Korea, and analysts fear that relations […]
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April 212020
Australian Dollar Trades Lower After RBA Minutes, Drop of Crude Oil Below $0
The Australian dollar fell against almost all of the most-traded currencies today with the exception of the New Zealand dollar. The main reasons for the decline were the negative market sentiment and the dovish outlook for the monetary policy of Australia’s central bank. Markets were rattled by the unprecedented move of prices for North American crude oil below $0. Analysts were quick to point out that the move was in the May contract that expires today, making traders […]
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April 212020
Bears on AUD/USD May Start Pushing from 0.6313
The Australian dollar versus the US dollar currency pair seems to offer conflicting signals, but how can some light be shed upon the situation? Long-term perspective The advancement that started from the level of 0.5517 extended to as high as 0.6446, almost reaching the major area just beneath the 0.6500 psychological level. After peaking at 0.6446, the price went under the 0.6313 support level only to peak again at 0.6397. The fact that […]
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