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Day: August 26, 2020
August 262020
South Korean Won Choppy As Investors Fear Potential COVID-19 Lockdown
The South Korean won is trading choppy in the middle of the trading week as investors begin to weigh the possibility of another lockdown related to the coronavirus pandemic. Despite South Korea flattening the curve in March, the nation has been experiencing an uptick in infections for most of August. The country is already in a recession, so another wave of restrictions could exacerbate the downturn. So far, South Korea has more than 18,000 confirmed cases of COVID-19, with […]
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August 262020
Greenback Weak, Fails to Get Support from US Durable Goods Orders
The US dollar was very weak today, surprisingly so considering very good domestic macroeconomic data. While the greenback managed to retain some of its gains versus the euro, the US currency fell against many other major rivals. The US Census Bureau reported that durable goods orders climbed by 11.2% in July. That is a far bigger increase than 4.4% predicted by specialists and a higher rate than 7.6% […]
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August 262020
Japanese Yen Flat-to-Higher After Economic Data, Other News
The Japanese yen was trading either flat or higher versus other most-traded currencies today. Today’s economic data in Japan was good, unlike yesterday’s inflation report. Other news was also generally positive. The Bank of Japan reported that the Services Producer Price Index rose by 1.2% in July, year-on-year, after increasing by 0.9% in June (revised, 0.8% before the revision). Experts were anticipating a mild slowdown to 0.8%. According […]
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August 262020
NZ Dollar Rises Despite Shrinking Trade Surplus
According to data released today, New Zealand’s trade balance surplus shrank last month. But that did not prevent the New Zealand dollar from rising. In fact, it was the strongest among the most-traded currencies. Statistics New Zealand reported that the trade balance showed a surplus of NZ$282 million in July. It was a sharp drop from the previous month’s revised value of NZ$475 million but it was […]
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August 262020
AUD/NZD Consolidates Around 1.0983
The Australian versus the New Zealand dollar currency pair seems to have entered into a consolidation phase. Is this only a pause of the bullish advancement? Long-term perspective The rally from the 0.9991 low extended — in a first phase — until the 1.0880 high. From there, a corrective movement began, one that after finding support a hair away from 1.0551 — and etching the 1.0566 low — fueled a rise that printed the 1.1043 high. Even […]
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