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- December 11, 2020 Canadian Dollar Pauses 2020 Rally Against US Peer Amid Falling Crude Prices
- December 11, 2020 Pound Crashes Against Dollar As No-Deal Brexit Appears Imminent
- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
Author: admin_mm
November 52020
US Dollar Plunges As Jobless Claims Fall to Pandemic Low, Stocks Rally
The US dollar is plunging against most of its currency rivals on Thursday as the number of Americans filing for first-time unemployment benefits declined to a pandemic low. With the 2020 US presidential election looking a little more certain in former Vice President Joe Bidenâs favor, the broader financial markets are rallying, which has sparked a selloff of the greenback. Will a lower dollar be the norm in the home stretch of 2020? According to the Department of Labor, […]
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November 52020
Pound Rallies Against Dollar on £150Bln Bank of England Stimulus
The sterling pound today rallied against the dollar after the Bank of England decided to expand its quantitative easing programme by more than expected. The dollar’s overall weakness also boosted the GBP/USD currency pair’s rally as vote-counting in the US Presidential elections showed Biden maintaining his lead. The GBP/USD currency pair today rallied from a low of 1.2938 during the Asian session to a high of 1.3109 during the early American session and was near […]
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November 52020
Aussie Strong After Trade Surplus Widens Beyond Expectations
The Australian dollar was strong today after Australia’s trade surplus rose more than analysts were expecting. But, perhaps, the bigger contributor to the Aussie’s strength was the positive general sentiment on markets. While optimism was not reigning on the Forex market as strongly as on the stock market, with all stock indices logging substantial gains both yesterdays and today, most riskier currencies managed to rise during Thursday’s trading session. […]
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November 52020
NZ Dollar Rises as Business Confidence Remains Stable, Markets Wait for US Election Results
The New Zealand dollar rose against most of its major rivals today. Markets still wait for the outcome of the US presidential election. But while uncertainty surrounding the election results make investors nervous, it seems markets are in a risk-on mode. As for New Zealand’s macroeconomic data released today, it was not bad, though it was not great either. The ANZ business confidence was at -15.6 in November, virtually […]
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November 52020
Can Bulls Still Conquer 1.7445 on GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair still has the potential to pull off an appreciation. But will the bears let that happen? Long-term perspective After the double bottom — marked by the 1.6750 and 1.6779 lows, respectively — validated the firm support level of 1.6724, the bulls brought the price above the stable 1.7567 resistance area, peaking at 1.7647. But as the price not only retraced under 1.7567, but it also […]
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November 42020
Euro Rallies Against Dollar as Biden Maintains US Election Lead
The euro today oscillated between gains and losses as US election officials continue to count votes in the tightly-contested US Presidential elections. The EUR/USD currency pair fell earlier today after President Donald Trump threatened to use the Supreme Court to stop vote-counting in some states. The EUR/USD currency pair today fell to a low of 1.1602 in the early Australian session following Trump’s comments before spending the rest of today’s session inching higher and was […]
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November 42020
US Dollar Surges As Trump Threatens Supreme Court Action Over 2020 Election
The US dollar advanced against many of its currency peers on Wednesday as the 2020 presidential election potentially becomes a contested affair. An official result was not announced, and many votes are still being counted in many key battleground states. With the historic race potentially being taken to the Supreme Court, financial markets are not reacting favorably. Former Vice President Joe Biden failed to emphatically defeat President Donald […]
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November 42020
AUD/NZD Thrust from 1.0592
The Australian versus the New Zealand dollar currency pair managed to rotate from the 1.0592 low, thus acknowledging the lower line of the descending channel. Long-term perspective The appreciation that started after the firm support level of 1.0013 was validated succeeded, in a first instance, to climb until the 1.0880 high. From there, the correction took it back to the 1.0566 low, from where a new appreciation commenced, etching the 1.1043 high. However, the 1.1043 […]
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November 32020
Australian Dollar Soars Despite Interest Rate Cut from RBA
The Australian dollar was the strongest currency on the Forex market today even though the Reserve Bank of Australia expanded its stimulus more than was expected. Market analysts explained the currency’s stellar performance by the risk-positive market sentiment and the sell-off of the US dollar. While markets were expecting an interest cut from the RBA, the central bank was still able to provide a surprise, announcing a whole slew of stimulating measures, namely: -a reduction in the cash […]
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November 32020
Euro Rallies Against the Dollar As the US Elections Unfold
The euro today rallied to new 5-day highs against the US dollar as the US Presidential election day caused the dollar to selloff against other currencies. The EUR/USD currency pair’s rally was driven by the upbeat market sentiment, which also fueled a rally in the equity markets led by the Dow Jones and Nasdaq. The EUR/USD currency pair today rallied from a low of 1.1641 at the Australian open to a high of 1.1740 in the early American session and was trading […]
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