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Day: November 23, 2020
November 232020
Pound Rallies to 12-Week Highs on AstraZeneca Vaccine, UK PMIs
The sterling pound today surged to 12-week highs against the dollar boosted by news of AstraZeneca’s COVID-19 vaccine given that its a British/Swedish company. The GBP/USD currency pair later trimmed its gains after the dollar surged to new multi-month highs on upbeat US Flash PMIs released by Markit Economics. The GBP/USD currency pair today rallied to a high of 1.3397 in the mid-London session before falling to a low of 1.3264 in the American market but had […]
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November 232020
Euro Rallies on Coronavirus Vaccine News, Later Falls on Upbeat US PMI
The euro today rallied higher against the US dollar in the first half of today’s session boosted by investor optimism about a potential coronavirus vaccine. The EUR/USD currency pair later reversed course during the American session and turned negative for the day on the upbeat US PMI data, which boosted the dollar. The EUR/USD currency pair today rallied to a high of 1.1905 in the mid-European session before reversing course and falling to a low of 1.1800 during the American market. […]
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November 232020
US Dollar Extends Weakness on Optimism Over Oxford-AstraZeneca COVID-19 Vaccine
The US dollar is extending its weakness to start the trading week, driven mostly by optimism in the broader financial market amid the latest coronavirus vaccine from Oxford-AstraZeneca. This comes soon after Pfizer and Moderna announced their own two-dose inoculations in preventing COVID-19. With economic data being mostly quiet on Monday, traders will be looking for the latest hints regarding US fiscal stimulus and relief packages. AstraZeneca, the British […]
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November 232020
Bulls in Shape for 0.7587 on AUD/USD?
The Australian versus the US dollar currency pair seems to be under bullish dominance. Are the bears going to do something? Long-term perspective After validating the 0.6386 level as support, the price continued to climb, eventually reaching the 0.7413 high. From there, it slipped under 0.7320 but was rejected by the next support area, 0.7191. However, the new impulsive swing proved to be a throwback, one that validated 0.7320 as resistance […]
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