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News
October 262020
Euro Falls on Rising Eurozone COVID-19 Cases, Risk-Off Sentiment
The euro today fell against the US dollar as investors sold the single currency amid rising coronavirus cases within the euro area dampening investor sentiment. The EUR/USD currency pair’s decline was further fueled by the stalemate in the US stimulus talks ahead of next week’s Presidential election as equity markets sold off. The EUR/USD currency pair today fell from an opening high of 1.1850 to a low of 1.1803 in the early European market before […]
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October 262020
Chinese Yuan Retreats From 27-Month High as Officials Tolerate Currencyâs Appreciation
The Chinese yuan is retreating from its highest level against the US dollar in 27 months, despite officials revealing they will tolerate the currencyâs appreciation against the greenback â for now. The acceptance of the yuanâs enormous climb has signaled that policymakers are prepared to potentially alter the currencyâs strategy in the global economy, fueling its aspirations to make the yuan a global reserve currency that rivals the buck and other counterparts. Wang […]
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October 262020
Japanese Yen Mixed During Monday’s Quiet Trading
The Japanese yen was mixed today, rising against some peers and falling against others. Generally, though, the yen did not move far as trading was rather quiet on Monday. The Bank of Japan will hold a monetary policy meeting on Thursday. The general consensus among analysts is that the central bank will leave its monetary policy unchanged, though some of them speculate that the bank may downgrade its […]
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October 262020
For How Long Are the Bulls Going to Wait for 0.7320 on AUD/USD?
The Australian versus the United States dollar currency pair is making lower highs, but the bulls may be just around the corner. Long-term perspective The rise in which the Australian dollar finds itself since the middle of March extended until the 07413 high. As can be seen, from the 0.6873 intermediary level, the appreciation lost part of its steam. Nevertheless, two important levels were conquered: 0.7010 and 0.7191. However, the next […]
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October 242020
EUR/USD Ends Week Higher
EUR/USD ended the week with solid gains. The US dollar was the weakest major currency on the Forex market during the week. The euro, on the other hand, was one of the strongest, ending trading either flat or higher against its most-traded rivals. Market analysts explained the weakness of the dollar and the resulting strength of the euro for the most part by hopes for fiscal stimulus in the United States. But most analysts express strong doubts about the ability of US […]
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October 232020
Turkish Lira Tests Fresh Record Low of 7.9 As Central Bank Leaves Rates Unchanged
The Turkish lira tested a fresh record low of 7.9 to close out the trading week, one day after the central bank surprised analysts and left interest rates unchanged. The lira has repeatedly been cratering to new all-time lows throughout 2020, driven by declining foreign exchange reserves and geopolitical tensions. Could the lira break 8.0 against the US dollar in the coming weeks? On Thursday, the central bank announced that it would […]
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October 232020
Japanese Yen Soft After Economic Data, Japan-UK Trade Agreement
The Japanese yen was trading either flat or lower against most other currencies, though it managed to gain on the US dollar. Japanese macroeconomic data released on Friday was mixed. The big news today was the fact that Japan and the United Kingdom formally signed a trade deal that has been agreed in principle back in September. It is the first post-Brexit trade deal the UK signed. Yet many economists […]
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October 232020
104.34 Low on USD/JPY a Double-Edged Sword?
The United States dollar versus the Japanese yen currency pair, at this moment, may very well be treasured by both bulls and bears. However, only one party is to be right. Long-term perspective The fall from the 111.71 high extended — in a first phase — until the 105.98 low, from where a new appreciation crystalized, pinning the 109.85 high. The fall from 109.85 continued the endeavor of the first one thus — after defining […]
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October 222020
US Dollar Struggles for Direction As New Jobless Claims Fall Below 800k
The US dollar is looking for direction on Thursday as initial jobless claims and the Congress unable to strike a coronavirus stimulus and relief deal. The greenback has been trending downward this month following a rally in September, driven primarily by confidence in the broader financial market and optimism over the on-again, off-again stimulus negotiations. According to the Department of Labor, the number of Americans filing for unemployment benefits clocked in at 787,000 for the week ending October 17, down from the previous […]
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October 222020
German Consumer Climate Deteriorates, Euro Weaker as Traders Expect Fiscal Stimulus in USA
The euro fell against the US dollar and was trading flat or lower versus other most-traded rivals. Market analysts thought that the euro’s weakness was mostly a result of the dollar’s strength as speculators continue to bet that US politicians will approve fiscal stimulus before the presidential election at the beginning of November. German macroeconomic data was worse than expected but did not have a material impact on the euro, though it […]
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