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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
December 22020
Swiss Franc Strong, Defying Fundamentals
The Swiss franc was the strongest currency on the Forex market today, rising against all other most-traded rivals. That was a very puzzling performance, considering that news neither from Switzerland nor from abroad was positive for the currency. Switzerland Federal Statistical Office reported that the consumer price index fell by 0.2% in November compared with the previous month after showing no change in October. Market participants were ready […]
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December 22020
Pound Sinks After Comments from EU Chief Brexit Negotiator
The Great Britain pound dropped today, falling against all other most-traded currencies. It dropped even versus the Japanese yen, which previously was the weakest currency during Wednesday’s trading. The reason for that was comments from the European Union chief Brexit negotiator. The sterling was getting support yesterday from hopes that a trade deal between the United Kingdom and the European Union can be reached before the year’s […]
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December 22020
NZ Dollar Stable Despite Drop in Overseas Trade Index
The New Zealand dollar was stable today, staying flat against most of its rivals and even gaining on some of them. That is despite the worse-than-expected trade report released on Wednesday. Statistics New Zealand reported that the Overseas Trade Index dropped by 4.7% in the September quarter compared with the June quarter after rising by 2.4% in the previous three months. The drop was bigger than 3.7% predicted by economists. Furthermore, that […]
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December 22020
Yen Soft After Economic Data, BoJ Deputy Governor’s Comments
The Japanese yen was very weak today. In fact, it logged losses against all other most-traded currencies. Domestic macroeconomic data was decent, therefore it could not be the reason for the weakness. Dovish comments of the central bank’s deputy governor, on the other hand, could. The Bank of Japan reported that the monetary base expanded by 16.5% in November from the same month of the previous year after rising by 16.3% in October. Economists […]
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December 22020
Australian Dollar Flat Despite Better-than-Expected GDP
The Australian dollar was trading flat today even though Australia’s gross domestic product rose more than was expected and the central bank’s chief delivered a rather optimistic speech. The Australian Bureau of Statistics reported that GDP rose by 3.3% on a seasonally adjusted basis in the third quarter of 2020 from the previous three months. The consensus forecast had promised a slower growth of 2.5%. The increase followed the record 7.0% drop in the previous […]
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December 22020
AUD/NZD in Freefall After 1.0474 Gave Way
The Australian versus the New Zealand dollar currency pair is under heavy bearish pressure. Could the bulls still do something to rectify the situation? Long-term perspective After the 1.0551 firm support area was validated by the formation of the 1.0566 low just above it, the price extended the rise until the 1.1043 high. However, from that point onwards, the bears were not content with letting the bulls see further gains. […]
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December 12020
Canadian Dollar Strengthens on Q3 GDP, Manufacturing PMI Growth
The Canadian dollar is strengthening against its US counterpart on Tuesday, buoyed by third-quarter economic growth and rebounding manufacturing activity. But the loonieâs rally was capped by sliding crude oil prices amid uncertainty over the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, regarding output in 2021. According to Statistics Canada, the Canadian economy expanded 8.9% in the third quarter, up from the second quarter’s 11.3% slide. The gross […]
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December 12020
US Dollar Drops amid Risk Appetite, Outlook for Stimulus
The US dollar fell against a basket of currencies today as risk appetite on the market limited demand for safety provided by the greenback, while the outlook for stimulus in the United States further damaged the appeal of the US currency. Macroeconomic indicators were suggesting lately that the economy recovers across the world, be it Asia, Europe, or America. They showed that the global economy remained stable despite the second wave of the COVID-19 pandemic. Coupled with positive […]
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December 12020
Euro Surges to Multi-Year Highs Against Dollar as US PMI Misses
The euro today rallied to multi-year highs against the dollar boosted by the positive investor risk sentiment amid heightened optimism about the global economic recovery. The EUR/USD currency pair’s rallied to highs last seen in Apil 2018 boosted by the dollar’s weakness and mixed eurozone macro releases. The EUR/USD currency pair today rallied from an opening low of 1.1937 in the Australian market to a high of 1.2053 in the American session and was trading near these highs […]
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December 12020
Sterling Mixed on Hopes for Brexit Deal, Rising Manufacturing PMI
The Great Britain pound was mixed today, rising against some rivals but falling versus others, despite positive fundamentals. Hopes for the Brexit deal and a better-than-expected manufacturing report were providing support to the currency of the United Kingdom. Markets remained hopeful that the UK and the European Union will be able to reach a trade deal before the year’s end. Indeed, Irish Prime Minister Micheal Martin said that he thinks […]
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