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Day: September 11, 2020

September 11
2020

USD/CNY Flat As New Bank Loans, Credit Growth Beat Market Forecasts

The Chinese yuan is trading flat against the US dollar to finish the holiday-shortened trading week. The yuan is trying to find support on positive numbers relating to credit markets. The currency has appreciated in recent months as the world’s second-largest economy stabilizes and rebounds in the aftermath of the coronavirus pandemic. According to the People’s Bank of China (PBoC), financial institutions extended $187.25 billion in new yuan loans in August, up 29% from the previous month. The median […]

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September 11
2020

Euro Rallies Then Falls Against the Dollar on Upbeat US Inflation

The euro today rallied higher against the US dollar following hawkish speeches by European Central Bank policymakers during the early European session. The EUR/USD currency pair later gave up some of its gains as the Brexit rhetoric weighed on the single currency combined with the upbeat American inflation data. The EUR/USD currency pair today rallied from an initial low of 1.1823 in the Australian market to a high of 1.1874 in the mid-European session before falling […]

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September 11
2020

US Dollar Weak, Ignores Good Inflation Data

The US dollar was among losers today, falling against most other major currencies and trading on par with the weakest of them, like the Japanese yen, the Great Britain pound, and the Canadian dollar. It looked like the release of US inflation data should be the major event on Friday but traders largely ignored it. The report came out better than expected but had hardly any positive impact on the greenback. […]

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September 11
2020

Sterling Falls on Brexit Fears and Weak UK GDP Data, Later Rallies

The Sterling pound today fell against the US dollar extending yesterday’s losses amid growing fears of a no-deal Brexit as both sides issue ultimatums. The GBP/USD currency pair has fallen for six of the past eight trading days as investors sell the pound as a hard Brexit appears very likely. The GBP/USD currency pair today fell to a low of 1.2763 before reversing course and rallying to a high of 1.2865 and was trading in positive territory at the time […]

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September 11
2020

Japanese Yen Weak on Friday, Strong Over Week

The Japanese yen was the weakest currency on the Forex market today but among the strongest for the week. With no unifying theme to drive markets, it is hard to pinpoint an exact reason for the currency’s poor performance, though some market analysts attributed it to the positive market sentiment that made the yen unnecessary in its role of a safe haven. As for Japan’s macroeconomic reports, they were not that bad but it hardly […]

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September 11
2020

NZ Dollar Strong Despite Drop of Manufacturing Index

The New Zealand dollar was among the strongest currencies on the Forex market today, together with its Australian counterpart. The kiwi managed to rally despite the report that showed a drop in New Zealand’s manufacturing index. The BusinessNZ Performance of Manufacturing Index dropped from 59.0 in July to 50.7 in August, seasonally adjusted. BusinessNZ’s executive director for manufacturing Catherine Beard explained that the lockdown in Auckland was the main reason for the sharp decline: After […]

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September 11
2020

USD/JPY Points to 107.00?

The United States dollar versus the Japanese yen currency pair seems not to be that willing to go south. But are the bulls able to pull it off? Long-term perspective The firm drop from the 109.85 high appears to have bottomed at the 105.09 support, after printing the low of 104.18. In other words, the depreciation is now limited by the 107.00 — as resistance — and 105.09, respectively. Since the price is now in this range, there […]

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