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Day: September 14, 2020
September 142020
Chinese Yuan Extends Winning Streak, Tests 6.8 on Liquidity
The Chinese yuan is extending its winning streak against the US dollar to start the trading week, driven by a liquidity injection and a recovering economy. A slumping greenback further contributed to the yuanâs ascent, allowing the currency to soon test 6.8, which would be the first time since June 2019. On Monday, the Peopleâs Bank of China (PBoC) announced that it injected a net $33.63 billion of liquidity into the nationâs financial system through […]
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September 142020
Analysts Remain Unconvinced by Sterling’s Rally
The Great Britain pound was the strongest currency on the Forex market today, rallying against other most-traded counterparts. But analysts were not convinced by the rally, arguing that it was a result of short-sellers taking profits, not supportive fundamentals. With not many fundamental factors supporting the currency and several high-profile events this week, specialists think that it is too risky to buy the sterling. The main theme for Britain’s […]
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September 142020
Euro Firm on Positive Market Sentiment & Good Data, Can Face Troubles in Future
The euro was firm today, rising against most of its rivals, though posting losses versus the Great Britain pound and the New Zealand dollar. Yet not all fundamentals were positive to the currency, and it may face troubles extending rally for the rest of the week. The market sentiment was positive on Monday as global stocks rallied. The good news headlines about the COVID-19 vaccine development also helped investors to maintain optimism. And that […]
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September 142020
Japanese Yen Soft amid Risk Appetite, Manages to Hold Ground Against Some Rivals
The Japanese yen was relatively soft today due to the positive market sentiment limiting demand for the currency in its role as a safe haven. Nevertheless, the yen managed to hold ground against a range of its major rivals, even gaining on some of them. The pharmaceutical giant AstraZeneca announced on Saturday that it resumes trials of its coronavirus vaccine. The company had to halt tests last week after one of the test subjects demonstrated symptoms […]
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September 142020
NZ Dollar Rises After Announcement of Restrictions Easing
The New Zealand dollar rose today, managing to log gains against all other most-traded currencies (though by now, the kiwi has erased its rally versus the Great Britain pound). The likely reason for the currency’s great performance was the news about the easing of coronavirus-related restrictions in the country. The positive general market sentiment also likely played its part in the rally. Prime Minister Jacinda Ardern announced that the government will lower […]
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September 142020
AUD/USD Limited by 0.7320?
The Australian versus the US dollar currency pair seems to be bounded by 0.7191 and 0.7320. Did the bulls lost their strength? Long-term perspective The appreciation from the 0.5701 low, and which extended until the 0.7436 high, conquered many levels along its way. However, the firm 0.7320 resistance area appears to be a challenge for the bulls that, until now, got used with relatively easy victories. Even more, the fact that […]
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