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Day: July 13, 2020
July 132020
British Pound Falls on Profit-Taking After Massive Rally Last Week
The Sterling pound today fell to fresh lows against the US dollar as investors took profits after last week’s dizzying rally where the pound outperformed all G10 currencies. The GBP/USD currency pair today fell despite the upbeat investor risk appetite that saw global equities rally amid hopes of an economic recovery post-COVID-19. The GBP/USD currency pair today fell from a high of 1.2666 in the Asian session to a low of 1.2569 […]
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July 132020
Swiss Franc Mixed As SNB Boosts Liquidity Measures, Fitch Maintains âAAAâ Rating
The Swiss franc is trading mixed to kick off the trading week as Switzerlandâs economy attempts to be resuscitated in the aftermath of the COVID-19 pandemic. The Swiss franc is struggling for consistent direction against a myriad of currency rivals, with the central bank launching additional liquidity measures and Fitch maintaining its AAA rating of the Swiss economy. The Swiss National Bank (SNB) recently announced that it is stepping up its liquidity efforts, […]
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July 132020
Japanese Yen Weak Despite Record Surge of Coronavirus Cases
The Japanese yen was weak today amid a relatively positive market sentiment, which was limiting the appeal of the currency considered to be a safe haven during times of trouble. The traders’ mood remained optimistic despite the threat of the second wave of the coronavirus pandemic. The World Health Organization reported that the number of new coronavirus cases rose by 230,370 as of July 12. It was the biggest increase on record. The previous record was registered just […]
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July 132020
Australian Dollar Rises amid Generally Positive Market Sentiment
The Australian dollar rose against almost all major currencies today amid generally positive market sentiment. It looks like hopes for a coronavirus vaccine outweighed concerns about the surge of new coronavirus cases. Australian Treasurer Josh Frydenberg said that Australia’s effective unemployment rate stands at 13.3%, almost two times the official rate. He stated: The official unemployment rate is 7.1 per cent, and the market is […]
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July 132020
Bulls Out of Steam from 0.7010 on AUD/USD?
The Australian dollar versus the US dollar currency pair seems to have some trouble heading towards the north. Is this a sign of a bearish comeback? Long-term perspective The appreciation that started from the 0.7501 low, after the level of 0.5516 was validated as support, managed to pass the important resistance area defined by the level of 0.6386 and the descending trendline. This aided the extension of the appreciation until the 0.7041 high. However, even if the ascending trendline […]
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