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Day: September 17, 2020
September 172020
Japanese Yen Extends Winning Streak As BoJ Maintains Ultra-Loose Support
The Japanese yen is extending its winning streak against many of its most traded currency counterparts on Thursday. The yen found support in the central bank leaving interest rates in subzero territory and keeping its bond-buying program. In addition to the ultra-loose efforts of the Bank of Japan (BoJ), the institution plans to coordinate with new Prime Minister Yoshihide Suga on a wide range of policies. Governor Haruhiko Kuroda and his colleagues voted to keep its […]
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September 172020
US Dollar Looks for Direction As Jobless Claims Fall to Pandemic Low
The US dollar is looking for direction against many of its currency rivals on Thursday after the federal government reported that the number of Americans filing for first-time unemployment benefits declined to a pandemic low. The US central bankâs important September policy meeting continues to weigh on the buck, while uncertainty surrounding Congress’ newest stimulus package sparks concern in the broader financial markets. According to the Department of Labor, initial jobless claims came in at 860,000 […]
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September 172020
Sterling Tanks After BoE Talks About Negative Interest Rates
The Great Britain pound sank today, overtaking the New Zealand dollar as the weakest currency on the Forex market during Thursday’s trading. The sterling dropped after the monetary policy announcement from the Bank of England. While the central bank kept its policy unchanged, the wording of the statement led to the drop of the currency. As was widely expected, the BoE left its monetary policy unchanged, with the benchmark interest rate remaining at 0.10% and the size of the Asset Purchase […]
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September 172020
NZ Dollar Among Weakest After GDP Report
The New Zealand dollar was among the weakest currencies on the Forex market today amid the risk-negative sentiment among investors. Domestic macroeconomic data was also extremely bad, though not as bad as pessimistic forecasts. Statistics New Zealand reported that gross domestic product shrank by as much as 12.2% in the June quarter. That was the biggest decline on the record. Yet it was still not as big as the 12.5% decline predicted by economists. […]
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September 172020
Bulls Taking Over on GBP/CAD from 1.6810?
The Great Britain pound versus the Canadian dollar currency pair shifted direction. Could this be a sustainable rise? Long-term perspective After the double bottom marked by the 1.6750 and 1.6769 lows, respectively, validated the firm 1.6724 support area, the price started a convincing appreciation phase. At first, the rally was limited by the 1.7132 intermediary level, thus printing the 1.7207 high. As a result, a consolidation stage — with 1.6988 as support — took shape. However, […]
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