Day: October 16, 2020

October 16
2020

USD/CHF Flat on Inflation, Investors Weigh SNB Comments

The Swiss franc is trading relatively flat against the US dollar to finish the trading week. The safe-haven asset, which has been one of the top-performing currencies in this year’s chaotic financial market, was struggling to find direction amid the latest producer and import prices and the central bank’s lack of enthusiasm over negative interest rates. Despite a bombardment of foreign exchange interventions, the franc continues to appreciate, frustrating policymakers. According to the Swiss Federal […]

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October 16
2020

Great Britain Pound Flat Despite Worrying Brexit News

The Great Britain pound was mostly flat today despite concerning Brexit news headlines. While the sterling was trading either near the opening level or slightly higher against most of its rivals, it fell versus the Canadian dollar. The European Union and the United Kingdom decided yesterday to prolong Brexit talks beyond the October 15 deadline. But it seems that UK Prime Minister Boris Johnson wants to walk […]

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October 16
2020

Canadian Dollar Rallies Against US Peer Driven by Dollar Dynamics

The Canadian dollar today rallied against its US peer benefitting heavily from the latter’s decline as investors remained cautiously optimistic about the global economy. The USD/CAD currency pair fell as the loonie rallied driven by the upbeat investor sentiment as Canada insists that it will not open its borders to Americans given the surge in US coronavirus cases. The USD/CAD currency pair today fell from a high of 1.3237 in the Asian session […]

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October 16
2020

Euro Rallies on ECB Comments and In-Line Eurozone Inflation Data

The euro today inched higher against the dollar as rising eurozone coronavirus cases continued to weigh on the single currency amid mixed inflation reports. The EUR/USD currency pair was trading sideways earlier today before surging higher boosted by positive comments from European Central Bank policymakers. The EUR/USD currency pair today rallied from a low of 1.1694  in the early Frankfurt session to a high of 1.1739 in the mid-European session and was near these […]

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October 16
2020

NZ Dollar Mixed After Economic Data, Ahead of Election

The New Zealand dollar was mixed today, though it largely did not go far from the opening level against its major rivals. The notable exceptions were the Great Britain pound and the Australian dollar, with the former one demonstrating a decent gain and the latter one showing a decline versus the kiwi. The BusinessNZ Performance of Manufacturing Index climbed to 54.0 in September from 51.0 in August. While the reading was undoubtedly good, […]

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October 16
2020

USD/JPY Respecting the 105.09 Support?

The United States dollar versus the Japanese yen currency pair seems to be under bullish control. Long-term perspective From the 111.71 high, the price started a decline that, for the time being, coined the low at 104.00. Along this path, the market crystallized two unfoldings that are trying to emulate ranges. The first one is limited by the 109.08 and 107.00 firm resistance and support, respectively. The second is lined up by 107.00 as resistance […]

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