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Day: July 24, 2020
July 242020
USD/CHF Tests 0.92 As UBS Warns US Will Label SNB a Currency Manipulator
The Swiss franc is extending its gains against many of its G10 currency competitors to finish the trading week. With the US dollar weakening and global economic uncertainty amid the coronavirus pandemic, investors continue to pour into the franc, much to the chagrin of a central bank doing everything it can to place a cap on its ascent. As the Swiss National Bank (SNB) defends its aggressive foreign exchange interventions to limit the currencyâs appreciation, […]
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July 242020
Euro Trades Sideways Despite Upbeat Euro Area Flash PMI Prints
The euro today traded sideways against the US dollar as the market sentiment remained subdued despite the release of multiple PMI prints from the euro area by Markit Economics. The EUR/USD currency pair did not react to the US PMI releases as well amid a lack of volatility in the markets as the week comes to an end. The EUR/USD currency pair today traded between a low of 1.1581 and a high of 1.1621 and was near the top end of the range at the time of writing. […]
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July 242020
Sterling Range-Bound Despite Upbeat UK Retail Sales and PMI Data
The Sterling pound today traded sideways against the US dollar despite the release of multiple positive macro prints from the UK docket in the London session. The GBP/USD currency pair traded in a tight range as investors worried about the prospect of a no-deal Brexit and the high chance of the second wave of coronavirus infections. The GBP/USD currency pair today traded between a high of 1.2772 and a low of 1.2717 and was within the upper portion of this 55 pip range […]
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July 242020
USD/JPY About to Test the 106.12 Level
The United States dollar versus the Japanese yen currency pair seems to have been taken over by the bears. Do the bulls stand a chance at 106.12? Long-term perspective The fall from the 109.85 high extended, in a first instance, until the 106.57 low. From there, the bulls tried to recover, but, even if they were able to close a candle above the level, the bears had the power to send the price to 106.12, printing the 106.07 low. […]
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