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- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
Author: admin_mm
November 192020
Euro Falls Against Dollar on Risk-Off Mood, Rallies on US Jobless Claims
The euro today fell against the resurgent dollar for the second consecutive day as the impasse regarding the EU’s budget weighs down the single currency. The EUR/USD currency pair was also affected by the risk-off market sentiment as investors bought the safe-haven dollar as the second wave of coronavirus infections intensifies. The EUR/USD currency pair today fell from a high of 1.1852 in the early Frankfurt session to a low of 1.1816 in the middle of the session before recouping most of its losses […]
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November 192020
USD/IDR Rises After Surprise Interest Rate Cut from Bank Indonesia
The Indonesian rupiah fell against the US dollar today after Indonesia’s central bank performed a surprise interest rate cut. Despite the decision, the bank had an optimistic outlook for the nation’s economy. The Bank Indonesia cut its interest rates by 25 basis points. Now, the 7-day Reverse Repo Rate stands at 3.75%, the Deposit Facility rate at 3.00%, and the Lending Facility rate at 4.50%. The bank explained its decision citing the following reasons: […]
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November 192020
Australian Dollar Flat Despite Amazing Employment Data
The Australian dollar did not move far today as markets were in a consolidation mode after optimism caused by the coronavirus vaccine news started to wane. Even the stellar jobs report failed to boost the Australian currency. The Australian Bureau of Statistics reported that employment surged by 178,800 in October after falling by 45,500 in September. That was a total surprise to experts, who had predicted a drop of 26,700. Both full-time and part-time employment contributed […]
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November 192020
Next Target on GBP/CAD: 1.7445?
The Great Britain pound versus the Canadian dollar currency pair seems to be determined to reach 1.7445. Can the bears change this course? Long-term perspective Following the fall from the 1.7674 high to the 1.7216 low, the price validated 1.7567 as resistance. This triggered a sharp decline, one that reached the 1.6810 low. However, from 1.6810, the bulls began a slow but steady recovery, reconquering each level along their way. […]
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November 182020
Canadian Dollar Strengthens Despite Higher-Than-Expected Inflation
The Canadian dollar is strengthening against its US currency peer on Wednesday, despite price inflation coming in higher than the market forecast. Although the loonie has fallen against the greenback this year, the Canadian dollar has been making gains in recent months, allowing the currency to stabilize after enormous volatility in the first half of 2020. According to Statistics Canada, the consumer price index (CPI) rose 0.4% in October, up from […]
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November 182020
Australian Dollar Holds Steady as Optimism Wanes
The Australian dollar held its ground today despite waning optimism about the coronavirus vaccine. Domestic macroeconomic data released in Australia on Wednesday was not great but not terrible either. The Australian Bureau of Statistics reported that the Wage Price Index rose by 0.1% in the September quarter from the previous three months. Analysts were expecting the same 0.2% rate of growth as in the previous quarter. Year-on-year, the index rose by 1.2%. The six-month […]
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November 182020
Sterling Pound Rallies Against Dollar on Upbeat UK Inflation Data
The Sterling pound today surged against the dollar boosted by the upbeat British inflation report released early in the morning and the positive investor mood. The GBP/USD currency pair’s rally was also fueled by investor hopes that the UK and EU will reach a post-Brexit trade deal before the fast-approaching December 31 deadline. The GBP/USD currency pair today rallied from a low of 1.3243 in the Japanese session to a high of 1.3280 in the early London session and was […]
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November 182020
NZ Dollar Stable as Markets Enter Consolidation Mode
The New Zealand dollar was stable today as markets have entered a consolidation mode after optimism caused by the positive coronavirus vaccine news earlier this week started to wane. Macroeconomic data released in New Zealand overnight was mixed. Statistics New Zealand reported that the output Producer Price Index fell by 0.3% in the September quarter after falling by 0.2% in the previous three months. Experts were not expecting any […]
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November 182020
Can the Bulls Send the Price to 1.0707 on AUD/NZD?
The Australian versus the New Zealand dollar currency pair seems to be searching for a resistance area. But could the bears take advantage of this context? Long-term perspective After the low of 1.0566 was printed, the market started a new rally, one that would etch the 1.1043 high. As the bears considered that the bulls overextended, they sent the price beneath 1.0983, thus leaving the bulls with no support to continue their movement […]
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November 172020
USD/CNY Tests 28-Month High As Economy Continues Recovery
The Chinese yuan is now testing its best level in more than two years against the US dollar. As China becomes the lone outlier in the global economy when it comes to the recovery, the yuan is joining the broader rally in the foreign exchange market. With the year 2020 winding down, is the next stop for the yuan 6.4? Better yet, will policymakers allow the yuan to appreciate that much? On Monday, the Peopleâs Bank […]
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