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- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
Author: admin_mm
December 82020
US Dollar Posts Modest Rise on Strong Manufacturing, Construction Data
The US dollar is recording modest gains on Tuesday as investors remain cautious in the broader financial markets. The greenback is mostly finding support on better-than-expected manufacturing and construction data, as well as traders finalizing their year-end positions. In November, the IHS Markit manufacturing purchasing managers’ index (PMI) came in at 56.7, up from 53.4 in October. This is in line with the median estimate. The US manufacturing sector reported gains in output, new […]
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December 82020
Bulls Reject from 1.3261 on GBP/USD
The Great Britain pound versus United States dollar currency pair seems, aside from governed by a lot of volatility, steered by the bulls. Long-term perspective The low of 1.2075, a false piercing of the firm support area of 1.2092, gave birth to an ascending trend that, as of writing, extended until the 1.3539 high. The 1.3539 high comes as a bullish victory after they had to retreat following the bearish pressure that, subsequent to the pin bar on September the 1st, […]
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December 72020
Pound Crashes As Brexit Talks Turn Sour Amid EU/UK Hardline Positions
The Sterling pound today crashed against the dollar amid a deluge of negative Brexit headlines as both the EU and UK reiterated hardline positions. The GBP/USD currency pair’s plunge today was driven by reports of new problems in the Brexit talks jeopardizing the likelihood of a deal before December 31. The GBP/USD currency pair today crashed from a high of 1.3437 in the Asian market to a low of 1.3225 but had recouped almost half of its losses at the time […]
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December 72020
Chinese Yuan Pauses Rally Amid Escalating Sino-US Tensions
The Chinese yuan retreated from its best level in more than two years to kick off the trading week, driven mostly on escalating Sino-US geopolitical and trade tensions. But the pullback was capped by better-than-expected exports in November, signaling that the world’s second-largest economy is recovering at a healthy pace. The US government is set to slap fresh sanctions on at least one dozen Chinese officials over their roles in disqualifying elected […]
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December 72020
AUD/USD at 0.7449 and Closer to 0.7600
The Australian versus United States dollar currency pair seems to be checking every point of the checklist that promises 0.7587. Long-term perspective The appreciation from the 0.6386 support area managed to climb until the 0.7413 high. From there, the price dropped under 0.7320 — which the bulls expected to play the role of support — but failed to get above it once more, leading to the depreciation that sent the price back to the 0.7010 ex-resistance […]
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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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