Markets were in a risk-on mode on Monday. Usually, positive market sentiment is good for the euro but that was not the case today. The shared 19-nation currency fell against almost all of its most-traded rivals, managing to gain only on safe currencies, which seemed unattractive for traders amid risk appetite. And even then, the euro failed to beat the US dollar, which is considered to be one of the safe-haven currencies. The news […]
Read moreRisk appetite reined over markets at the start of the week, driving investors towards riskier currencies and away from safer ones. Surprisingly, the US dollar did not fare that poorly, but the Swiss franc was clearly a victim of the risk-on market sentiment. The only major currency that performed even worse than the Swissie was the Japanese yen. There were two major reasons for traders’ optimism today. One of them […]
Read moreThe US dollar is sliding against many of its currency rivals to kick off the trading week, adding to the global reserve currency’s 2020 woes. The greenback may be in store for some more pain in international financial markets due to rallying equities driven by news that Pfizer’s COVID-19 vaccine is mostly effective. With a lack of data being released and the 2020 presidential election in the rear-view mirror, it is all about […]
Read moreThe Australian versus the United States dollar currency pair crystalized on the chart a very convincing appreciation. Do the bears still have a say? Long-term perspective The rally that validated 0.5516 as support managed in spawning the 0.7413 high. From there, a deep retracement came into being, one which started with the confirmation of 0.7320 as resistance and ended with rotating at the 0.7010 support area. The rise that followed topped a little above the 0.7191 […]
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