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Day: September 4, 2020
September 42020
Euro Falls Against US Dollar on Weak Sentiment and Upbeat NFP
The euro today fell against the much stronger US dollar extending the bearish trend that began earlier this week as the greenback strengthened against its peers. The EUR/USD currency pair fell to its daily lows during the American session following the release of the US non-farm payrolls report for August, which was mixed. The EUR/USD currency pair today fell from a high of 1.1865 to a low of 1.1781 after the release of the US NFP […]
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September 42020
Canadian Dollar Rallies Against US Peer, Later Falls on Jobs Data
The Canadian dollar today surged against its US peer erasing yesterday’s losses boosted by the rising crude oil prices, which fueled the commodity-linked loonie. The USD/CAD currency pair later recovered and rallied higher as the loonie reacted to Canadian employment data, which was worse than expected. The USD/CAD currency pair today fell from an initial high of 1.3139 to a low of 1.3077 in the mid-European session before reversing and heading higher in the American […]
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September 42020
US Dollar Gains After Strong August Jobs Report, Rising Treasury Yields
The US dollar is looking to extend its winning streak against multiple currency counterparts to close out the trading week. The greenback is rising on Friday after an impressive jobs report last month sparked confidence that the worldâs largest economy is rebounding in the aftermath of the public health crisis. According to the Bureau of Labor Statistics (BLS), the U.S. economy created 1.374 million new jobs last month, falling short of the market […]
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September 42020
Great Britain Pound Firm Despite Falling Construction Index, Outlook for Monetary Easing
The Great Britain pound rose today despite the gloomy outlook and an unexpected drop in the construction index. While the sterling has lost its gains versus commodity currencies by now, it continued to trade above the opening level against other most-traded peers. Michael Saunders, External Member of the Monetary Policy Committee at the Bank of England, delivered a speech titled “The Economy and Covid-19: Looking Back and Looking Forward”. In it, he voiced his opinion […]
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September 42020
Australian Dollar Stays Firm Despite Disappointing Retails Sales
The Australian dollar rose against some of its rivals today despite a slightly disappointing retail sales report. The gains were limited, though, as markets were quiet ahead of US nonfarm payrolls due for release later over Friday’s trading session. The Australian Bureau of Statistics reported that retail sales increased by 3.2% in July on a seasonally adjusted basis. Traders were hoping for the same 3.3% rate of increase as in June. The biggest gain […]
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September 42020
USD/JPY at 106.00. Where to from Here?
The US dollar versus the Japanese yen currency pair seems to be confined between 107.00 and 105.09. Who will make the next movement? Long-term perspective The false break of the major 109.00 resistance level, which peaked at 109.85, extended to as low as 104.18, from where it retraced above the firm 105.09 support level, thus marking yet another false breakout. Initially, the intermediary level of 106.12 seemed to have limited the bullish […]
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