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Day: August 28, 2020
August 282020
Euro Rallies Against the Dollar on Upbeat Euro Area Macro Prints
The euro today rallied higher against the US dollar capitalising on the greenback’s overall weakness since yesterday’s speech by the Fed Chair. The EUR/USD currency pair also benefitted from the upbeat macro releases from across the euro area, which lent support to the single currency today. The EUR/USD currency pair today rallied from a low of 1.1811 at the start of the Asian session to a high of 1.1919 in the mid-European market before giving up part of its […]
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August 282020
Japanese Yen Strengthens As Abe Resigns, Economic Activity Rebounds
The Japanese yen is strengthening against its currency rivals to finish the trading week. The yen has found support on Prime Minister Shinzo Abe stepping down and renewed economic activity in the worldâs third-largest economy. The yen has been performing well in 2020 as investors continue to seek traditional safe-haven assets in the fallout of COVID-19. On Friday, Japanâs prime minister announced that he would be resigning from his post as head […]
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August 282020
Franc Weak Despite Near-Record Jump of KOF Economic Barometer
The Swiss franc fell against almost all of the most-traded currencies today despite the near-record jump of the KOF Economic Barometer. The Swissie managed to gain only against the currencies that were weak themselves, like the US dollar, dragged down by yesterday’s speech of Federal Reserve Chairman Jerome Powell, and the Canadian dollar, which suffered from a sharp economic downturn in Canada. The KOF Business Barometer jumped from the revised July reading of 86.0 […]
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August 282020
Canadian Dollar Surges Against US Peer, Later falls on GDP Data
The Canadian dollar today surged against its US peer as the latter eas reeling from yesterday’s speech by the Fed Chair Jerome Powell, which unveiled a new inflation policy. The USD/CAD currency pair today fell for the fourth consecutive session to lows last seen in January as the greenback remained under intense selling pressure. The USD/CAD currency pair today fell from an opening high of 1.3132 during the Australian session to a low of 1.3047 […]
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August 282020
USD/JPY Confronting the 107.00 Resistance Level
The US dollar versus the Japanese yen currency pair seems to be willing to pass the 107.00 level. Will the bears defend it? Long-term perspective The fall from the 109.85 high extended until the 104.18 low. The high is part of a bullish overextension above the firm 109.00 level, while the low an overextension by the bears in relation to the major 105.09 level. The decline from the peak to the bottom passed yet another area of interest, the psychological level […]
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