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Day: May 12, 2020
May 122020
Euro Rallies on Investor Sentiment Amid European Reopening Efforts
The euro today rallied higher against the US dollar driven by positive investor sentiment as European countries cautiously move forward with the reopening of their economies. The EUR/USD currency pair today benefitted from the greenback’s overall weakness recouping yesterday’s losses and printing new weekly highs. The EUR/USD currency pair today rallied from a low of 1.0784 to a high of 1.0885 in a 100 pip move before giving up some of its gains […]
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May 122020
NZ Dollar Strong Ahead of RBNZ Monetary Policy Decision
The New Zealand dollar was among the strongest currencies today amid the mildly positive market sentiment. The currency waits for tomorrow’s monetary policy decision from the Reserve Bank of New Zealand. No economic reports were released in New Zealand today while yesterday’s data was not bad but not particularly good either. The RBNZ will announce its decision on monetary policy at 2:00 GMT tomorrow. While the vast […]
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May 122020
US Dollar Mixed As Fed Triggers Corporate Bond-Buying
The US dollar is trading mixed against multiple G10 currencies on Tuesday as the Federal Reserve begins its historic corporate bond-buying initiative. Investors were also concentrating on core consumer prices sliding and economies reopening across the country. On Tuesday, the US central bank will start purchasing corporate bond exchange-traded funds (ETFs) as part of its new $2.3 trillion Main Street Lending Facility. The New York Fed Bank […]
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May 122020
Aussie Rebounds After Falling on Tensions Between China & Australia
The Australian dollar fell intraday but has rebounded by now. The drop was a result of growing political tensions between China and Australia as well as poor macroeconomic data in both Australia and China. China banned imports of red meat from four Australian abattoirs. Analysts speculated that the move was a response to Australia’s demands of inquiry into the handling of the coronavirus pandemic by China. With China being the major destination of Australian exports, the conflict […]
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May 122020
Bears Joining Forces on GBP/CAD to Send Price Under 1.7200?
The Great Britain pound versus the Canadian dollar currency pair is back at the ascending trendline. Could the bears spell further movement to the downside? Long-term perspective After the appreciation that started from 1.6620, the bulls met the long-time resistance area of 0.7811. The price retraced drastically from this area, ingraining a high that would serve as a reference point for the next — at least for now — two confirmations, and that matches to the 0.7700 psychological level — […]
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