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Day: November 12, 2020
November 122020
Yen Gains as Optimism Surrounding Coronavirus Vaccine Wanes
The Japanese yen gained today as optimism about the coronavirus vaccine waned, making safer currencies more appealing to traders. Markets started the week in an optimistic mood due to the news that a major breakthrough in the development of the coronavirus vaccine was made. The optimism made investors less interested in acquiring safe-haven currencies. But the optimism has started to wane as there is still a large degree of uncertainty surrounding the treatment. Seiji Adachi, Member of the Policy […]
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November 122020
Pound Falls Against Dollar on Weak UK GDP Data, Brexit Stalement
The Sterling pound today fell against the dollar following the release of weak UK GDP data as the country’s economy expanded less than expected in September. The GBP/USD currency pair’s decline was further fueled by the lack of progress in Brexit negotiations as the December 31st deadline draws near. The GBP/USD currency pair today fell from an initial high of 1.3227 in the Australian session to a low of 1.3114 in the American session and was headed lower at the time of writing. […]
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November 122020
NZ Dollar Climbs on Reduced Chances for Negative Interest Rates, Retreats Later
The New Zealand dollar jumped yesterday and was trying to extend its rally today but failed to do so and has retreated by now. The reason for the jump was easy to pinpoint — the less certain outlook for negative interest rates from New Zealand’s central bank. The reason for the retreat is harder to identify but the most likely factor is the rally of the US dollar. The Reserve Bank of New Zealand made a monetary policy announcement […]
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November 122020
Euro Rallies Against Dollar on Upbeat German Inflation, Positive Mood
The euro today rallied against the dollar boosted by the positive investor sentiment despite the rising coronavirus cases and lockdown measures in Europe. The EUR/USD currency pair’s rally as also fueled by the positive releases from across the euro area including Germany’s inflation data among others. The EUR/USD currency pair today rallied from a low of 1.1758 in the late Asian session to a high of 1.1823 in the mid-Frankfurt session before proceeding to trade sideways up to the time […]
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November 122020
US Dollar Gains As Jobless Claims Hit Fresh Pandemic Low, Inflation Beats Estimates
The US dollar is looking to maintain its momentum toward the end of the trading week, buoyed mostly by economic data rather than the broader market trends. The greenback is searching for support from lower-than-expected inflation and initial jobless claims falling to a fresh pandemic low. Could the buck travel on an upward trajectory to close out 2020? According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came in at 709,000 in the week ending […]
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November 122020
Bulls Fail to Conquer 1.7285 on GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair seems to be having trouble climbing. Long-term perspective After the high of 1.7674 was proved to be part of a false piercing of the 1.7567 resistance area, the price fell until the 1.7285 level. From there, the bulls attempted a comeback, but their efforts were confined to the 1.7567 level. As a result, the price dropped abruptly, crafting the low of 1.6810. The low aided the bulls, as they […]
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