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- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
Day: December 4, 2020
December 42020
Canadian Dollar Rallies Against US Peer on Upbeat Jobs Report, Crude Prices
The Canadian dollar today rallied against its US peer after the release of employment reports from both countries with Canada’s beating analysts expectations. The USD/CAD currency pair fell to multi-year lows last seen in October 2018 as the loonie rallied against the weak greenback during the American session. The USD/CAD currency pair today fell from a high of 1.2873 in the Asian session to a low of 1.2804 during the American market and was trading […]
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December 42020
US Dollar Adds to Weekly Loss Amid Slowest Employment Growth Since May
The US dollar maintained its downward trend to finish the trading week after the US government reported the slowest employment growth rate since May. The disappointing November jobs report coincided with a resurgence in coronavirus cases, as well as jurisdictions imposing new lockdown measures. The lackluster labor snapshot did not hit the financial markets, adding to the traditional safe-haven assetâs 2020 woes. According to the Bureau of Labor Statistics (BLS), the US labor […]
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December 42020
Pound Firm Despite Fresh Bump in UK/EU Trade Negotiations
The Great Britain pound was firm today, rising against most of its major rivals, despite a fresh bump on the road to a post-Brexit trade deal between the United Kingdom and the European Union. The sterling was getting support this week from hopes that the UK and the EU will be able to reach a trade deal before the deadline on December 31. But there are also doubts as some of the EU politicians think Britain […]
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December 42020
Euro Rallies Against Weak Dollar for the Fourth Consecutive Day
The euro today rallied to new highs against the US dollar for the fourth consecutive session boosted by investor optimism about the global economic recovery. The EUR/USD currency pair also benefitted from the greenback’s overall weakness as the global reserve currency lost its safe-haven appeal due to the risk-on market mood. The EUR/USD currency pair surged from a low of 1.2138 during the Asian market to a high of 1.2176 in the mid-European session and was trading near […]
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December 42020
Good Retail Sales Report Fails to Boost Aussie
The Australian dollar was weak today, falling against all other most-traded currencies. That is despite domestic macroeconomic data that beat expectations. The Australian Bureau of Statistics reported that retails sales rose by 1.4% in October from September on a seasonally adjusted basis. While the reading was slightly lower compared with the preliminary estimate of a 1.6% increase, it was substantially better than the median forecast that has […]
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December 42020
Bears Marching Towards 103.15 on USD/JPY?
The United States dollar versus the Japanese yen currency pair seems to be under undeterred bearish dominance. Are the bulls just around the corner? Long-term perspective The fall that started at 109.85 sent the price — in the first instance — to the 106.07 low, which is under the firm support level of 107.00 — a psychological level. Because of this, the point that the price returned above 107.00 was of little importance for the bears. This is because, […]
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