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Day: November 26, 2020
November 262020
Euro Plunges on Weak German GfK Survey and Dovish ECB Minutes
The euro today fell against the dollar following the release of the weak Germany GfK survey early in the European session combined with the risk-off market sentiment. The EUR/USD currency pair today fell even though US markets were closed for the Thanksgiving Day celebrations as investors bought the safe-haven greenback. The EUR/USD currency pair today rallied to a high of 1.1940 in the early Frankfurt session before falling to a low of 1.1885 in the early American market then […]
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November 262020
Chinese Yuan Firms As PBoC Signals Flexible, Targeted Monetary Policy
The Chinese yuan is firming against multiple currency peers during the quiet holiday Thanksgiving trading session. The yuan has been strengthening since peaking at around 7.1 against the US dollar. It is likely to extend its winning streak to the end of the year after the central bank signaled that it would adjust its monetary policy directives. But how much longer will officials allow the yuan to appreciate, […]
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November 262020
Aussie Flat, Ignores Negative Domestic Macroeconomic Data
Macroeconomic data released in Australia on Thursday was not good but that hardly affected the Australian currency. The Aussie was trading flat against all of its most-traded peers as trading was very quiet due to a holiday in the United States. The Australian Bureau of Statistics reported that private capital expenditure dropped by 3.0% in the September quarter from the previous three months. The actual drop was two times bigger than the forecast […]
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November 262020
NZ Dollar Stable During Thursday’s Quiet Trading
The New Zealand dollar was stable today. While it moved a little lower against some of its rivals, the kiwi for the most part did not go far from the opening level. Trading is going to be quieter than usual on Thursday and Friday due to the Thanksgiving holiday in the United States. Statistics New Zealand reported that the trade balance logged a deficit of NZ$501 million in October, matching market expectations. The previous […]
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November 262020
GBP/CAD Closing In on the 1.7567 Resistance
The Great Britain pound versus the Canadian dollar currency pair seems to be on its way to the main objective of 1.7567. Long-term perspective After the false piercing of the 1.7567 resistance, noted by the 1.7674 high, the price dropped until the 1.6810 low. From there, an ascending movement took shape, as the series of higher lows and highs point out. The fact that the bulls are willing to — and apparently accomplishing — wipe out the sharp decline that […]
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