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Day: July 16, 2020
July 162020
Canadian Dollar Weakens Against US Peer on Flight to Safety Mood
The Canadian dollar today lost ground against its southern neighbour amid driven by the flight to safety mood that dominated the financial markets today. The USD/CAD currency pair rallied today as investors were spooked by the rising coronavirus cases globally, which pose a direct threat to the ongoing global economic recovery. The USD/CAD currency pair today rallied from an Asian session low of 1.3501 to a high of 1.3581 in the American market and was near […]
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July 162020
Pound Swings From Losses to Gains on Shifting Market Sentiment
The Sterling pound today headed lower at the start of the session, driven by the risk-off market sentiment from yesterday as investors reacted to escalating US-China tensions. The GBP/USD currency pair later recovered and rallied higher primarily driven by the greenback’s oscillating between gains and losses as it ignored upbeat UK jobs data. The GBP/USD currency pair today rallied from a low of 1.2520 to a high of 1.2623 before giving up all its gains to trade […]
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July 162020
US Dollar Flat As Retail Sales Surge, Jobless Claims Disappoint
The US dollar is trading relatively flat against its currency competitors on Thursday as retail sales surged in June but weekly jobless claims disappointed. With Europe choosing to pause on expanding its relief and stimulus measures, the broader global financial market has been subdued, providing little momentum for the greenback. According to the Department of Labor, initial jobless claims came in at 1.3 million for the week ending July 11, worse than […]
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July 162020
Euro Little Changed As ECB Leaves Interest Rates, QE Program Unchanged
The euro is little changed against many of its G10 currency rivals on Thursday after the central bank adopted a wait-and-see approach to monetary policy, leaving its key interest rates and quantitative easing (QE) program unchanged. The European Central Bank (ECB) confirmed it would monitor the strength of the eurozone economy before choosing to add to its suite of stimulus and relief measures. After its July policy meeting, the ECB announced […]
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July 162020
Another Chance for the Bulls on AUD/NZD from 1.0630
The Australian dollar versus the New Zealand dollar currency pair sits above an important level, one from which the bulls could spark a new appreciation. The question is: are the bears going to choose to stand aside? Long-term perspective After confirming the support level of 1.0013, the ascending movement that started from the 0.9991 low extended to as high as 1.0880. From there, the price retraced but failed to confirm as support the next important […]
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