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Day: October 28, 2020
October 282020
Euro Falls Against Dollar as EU Countries Initiate 2nd Lockdown
The euro today fell against the dollar as eurozone countries initiated fresh lockdown measures to curb the rising coronavirus cases within their borders. The EUR/USD currency pair fell driven by safe-haven flows as investors bought the dollar to hedge against the risks posed by the coronavirus pandemic to the global economy. The EUR/USD currency pair today fell from a high of 1.1788 during the Australian market to a low of 1.1717 during the early American session but has […]
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October 282020
Canadian Dollar Slides As BoC Leaves Rates Unchanged, Crude Oil Crashes
The Canadian dollar is sliding against its US peer on Wednesday as the Bank of Canada (BoC) left interest rates unchanged during its November policy meeting. The loonie was also falling on plummeting crude oil prices amid escalating COVID-19 cases around the world that traders bet would continue to weigh on global demand. With Canada witnessing a second wave of the highly infectious respiratory illness, will the economic recovery […]
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October 282020
US Dollar & Japanese Yen Climb amid Risk Aversion
Safe-haven currencies, like the US dollar and the Japanese yen, jumped today as risk aversion was ruling markets. The main themes were the rising number of coronavirus cases in Europe and the upcoming presidential election in the United States. According to reports, the French government is considering a month-long nationwide lockdown to curb the rising number of coronavirus cases. French President Emmanuel Macron will address the issue on television later today. The European Commission announced that […]
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October 282020
Australian Dollar Retreats After Rising on Good Inflation Report
The Australian dollar rose on Wednesday after a positive inflation report released in Australia. But as of now, the currency has lost its gains due to risk aversion that prevailed on markets. The Australian Bureau of Statistics reported that the Consumer Price Index rose by 1.6% in the September quarter (1.5% with seasonal adjustments). The increase followed the 1.9% drop in the previous three months. Year-on-year, the index increased by 0.7%. The trimmed mean CPI (which is […]
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October 282020
Can the Bears Still Push on AUD/NZD After Reaching 1.0631?
The Australian versus the New Zealand dollar currency pair ebbed until the 1.0631 level. Could this level be the one that starts a correction? Long-term perspective After validating the support of 1.0013 — not highlighted on the chart — the price climbed until the 1.1043 high. In doing so, towards the end of the movement, it pierced two significant levels. The first one is 1.0826, which previously — see the 1.0880 high — served as a firm resistance, […]
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