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Day: September 23, 2020
September 232020
Japanese Yen Mixed amid Signs of Economic Slowdown
The Japanese yen was mixed today despite the relatively negative sentiment amid investors. Usually, the yen rallied amid risk aversion due to its status as a safe haven. But today, the currency was struggling to rise. Some analysts explained that by the rally of the stock market. Domestic economic indicators were not favorable to the currency of Japan either. European stocks rallied, with all major indices logging gains. That alleviated […]
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September 232020
US Dollar Among Strongest on Coronavirus Fears
The US dollar was firm today, battling with the Great Britain pound for the title of the strongest currency during Wednesday’s trading. Market analysts explained the strong performance by risk aversion on markets. Investors are worried about the impact of the coronavirus pandemic and measures to contain it. While many countries were easing restrictions, the surge of new cases around the world is likely to force governments to reinstall lockdown measures. Even without the second […]
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September 232020
Euro Rallies Against Dollar, Later Falls on Dovish Sentiment
The euro today extended its losing trend against the much stronger US dollar driven by the release of mostly negative euro area PMI prints by Markit Economics. The EUR/USD currency pair today fell driven by the massive demand for the greenback amid fears that the rising coronavirus cases would derail the global economy. The EUR/USD currency pair today hit a low of 1.1672 in the early Frankfurt session before rallying to a high of 1.1718, then […]
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September 232020
Australian Dollar Weak on Interest Rate Cut Outlook
The Australian dollar was one of the weakest currencies on the Forex market during Wednesday’s trading. The Aussie fell even against its New Zealand counterpart, which itself was extremely soft, though by now the AUD/USD pair has almost erased its losses. Market analysts thought that the main reason for the currency’s weakness was the outlook for an interest rate cut in the near future. Yesterday, Guy Debelle, Reserve Bank of Australia Deputy […]
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September 232020
USD/INR Slumps to One-Month Low As Economy Forecast to Crash in 2020
The Indian rupee is slumping to a one-month low against the US dollar, driven by a bleak forecast for the developing countryâs economy in 2020. But while market observers are anticipating an economic contraction, officials are looking ahead and expecting improvements across the nation. But could the rupee threaten its gains over the last few months? The United Nations Conference on Trade and Development (UNCTAD) published a new Trade and Development Report for 2020. It […]
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September 232020
NZ Dollar Drops After RBNZ Hints at Additional Monetary Easing
The New Zealand dollar dropped today, falling against some of its rivals, like the US dollar, for the third consecutive day. The currency declined following the monetary policy announcement from the nation’s central bank. The Reserve Bank of New Zealand confirmed that it continues to prepare additional measures to stimulate the New Zealand economy. The RBNZ left its monetary policy unchanged, with the key interest rate staying at 0.25% and the Large Scale […]
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September 232020
Rise on GBP/CAD Halted at 1.7156?
The Great Britain pound versus the Canadian dollar currency pair seems to have ceased the appreciation phase. Is this only a small correction? Long-term perspective The appreciation that started after the double bottom — defined by the 1.6750 and 1.6769 lows, respectively — played its role, ended after the 1.7567 level interrupted the movement twice — first by rendering the 1.7674 high as a false piercing and then by stopping the advance that started from 1.7216. After […]
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