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Day: June 29, 2020
June 292020
Euro Rallies Against on Positive Sentiment and Releases, Later Falls
The euro today rallied against the US dollar during the first half of today’s session before turning lower later and giving up most of its gains to trade flat for the day. The EUR/USD currency pair’s behaviour was primarily influenced by the investor risk appetite of lack thereof as well as the mixed releases from across the euro area. The EUR/USD currency pair today rallied to a high of 1.1287 in the mid-European session before falling to a low of 1.1219 […]
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June 292020
Sterling Soft on Brexit Fears, Government Spending Plans
The Great Britain pound was extremely weak today, falling against all other most-traded currencies with the exception of safer ones, like the Japanese yen and Swiss franc (but not the US dollar, which outperformed the sterling). According to market analysts, the main reasons for the drop were Brexit fears and concerns about government spending plans. UK Prime Minister Boris Johnson pledged to increase infrastructure spending, arguing that it […]
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June 292020
US Dollar Lackluster As COVID-19 Optimism, Strong Housing Data Weaken Safe-Haven Appeal
The US dollar is failing to muster up any momentum to kick off the trading week after experiencing a brief resurgence in recent sessions. The greenback is being weighed down by optimism that the latest surge in coronavirus cases could be easing and strengthening real estate data. According to the National Association of Realtors (NAR), pending home sales skyrocketed 44.3% in May, the biggest one-month jump in US history. The market had penciled […]
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June 292020
Japanese Yen Opens Higher, Turns Lower Afterward
The Japanese yen started the trading week higher versus other most-traded currencies but has reversed its movement afterward and is currently trading far below the opening level against basically all other major rivals. Market analysts explained the moves by the improving market sentiment, though, in the longer-term, the outlook remains favorable to the currency. Safe-haven currencies, like the US dollar and the Japanese yen, were on the defensive today, retreating against its […]
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June 292020
Bulls on AUD/USD Fighting to Keep Gains at 0.6873
The Australian dollar versus the US dollar currency pair is under bearish pressure. Is it just a matter of time for them to win? Long-term perspective The ascending trend that started from the 0.5701 low seems to have ended at the 0.7064 peak, as the support trendline got pierced. However, the bulls are hesitating on letting the bears have easy success. But as far as the bulls are concerned, they are still in advantage, even […]
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