Breaking News

Day: September 18, 2020

September 18
2020

Turkish Lira Falls to a New Record Low Amid Emerging Market Selloff

The Turkish lira plunged to a new record low against the US dollar to finish the trading week, adding to its year-to-date plunge to 28%. The lira joined the broader emerging market currency selloff as the Federal Reserve’s downbeat assessment of the world’s largest economy sent investors into safer assets. Could the lira next test 8.0 against the buck? On Thursday, state-owned financial institutions sold approximately $500 million in global foreign exchange markets […]

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September 18
2020

Euro Falls Against US Dollar, Later Recovers to Trade Sideways

The euro today fell against the dollar before recovering to trade sideways boosted by upbeat data from across the euro area and positive market sentiment. The EUR/USD currency pair today fell to its daily lows after the release of upbeat US consumer sentiment data but recovered quickly as investor risk appetite remained elevated. The EUR/USD currency pair today fell to a low of 1.1827 in the early American session before recouping all […]

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September 18
2020

Canadian Dollar Soft After Retail Sales Miss Expectations

The Canadian dollar was soft today, falling against other most-traded currencies, after domestic retail sales data disappointed traders. The losses were limited against most of the rivals, though, with the exception of the Japanese yen and the New Zealand dollar — the two strongest currencies on the Forex market during Friday’s trading. Statistics Canada reported that retail sales rose by 0.6% in July, missing the consensus forecast of a 0.8% increase. It was […]

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September 18
2020

Australian Dollar Stable, Falls vs. Japanese Yen & NZ Dollar

The Australian dollar was stable today, staying flat against most other currencies, though fell versus the Japanese yen, which managed to recover from the earlier losses to trade as one of the strongest currencies on the Forex market on Friday. The Aussie fell against the New Zealand dollar too as it was also among the strongest, rising to the highest level in a year and a half. Market analysts speculated that one of the factors supporting the Aussie as well […]

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September 18
2020

Pound Rallies on Brexit Deal Hopes and Upbeat UK Retail Sales

The Sterling pound today fell then rallied against the US dollar to trade at breakeven amid investor optimism that the EU and UK could sign a post-Brexit deal soon. The GBP/USD currency pair today attempted to extend its 4-day rally boosted by the upbeat UK retail sales data and the positive investor sentiment that favoured risk assets. The GBP/USD currency pair today fell to a low of 1.2941 in the early Asian market before […]

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September 18
2020

Japanese Yen Starts Friday Weak, Rebounds Later

The Japanese yen started Friday’s trading weak but managed to rebound and is now trading as the strongest currency on the Forex market. The currency gained on the US dollar as the FOMC-inspired rally of the greenback continued to fade. Today’s macroeconomic data in Japan demonstrated deflation of consumer prices, though experts were expecting that. The Statistics Bureau of Japan reported that the national core Consumer Price Index, which excludes fresh food, fell by 0.4% in August […]

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September 18
2020

USD/JPY Under the 105.00 Handle

The US dollar versus the Japanese yen currency pair fell under the major 105.09 support area. Can the bulls still recover? Long-term perspective Starting with the 111.71 high, which came after the sharp rally that validated the 101.42 support level, the currency pair has been under constant bearish pressure. The bearish presence can be observed, first of all, by checking the lower highs and — except for 106.07 — lower […]

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