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News
October 162020
Euro Rallies on ECB Comments and In-Line Eurozone Inflation Data
The euro today inched higher against the dollar as rising eurozone coronavirus cases continued to weigh on the single currency amid mixed inflation reports. The EUR/USD currency pair was trading sideways earlier today before surging higher boosted by positive comments from European Central Bank policymakers. The EUR/USD currency pair today rallied from a low of 1.1694 in the early Frankfurt session to a high of 1.1739 in the mid-European session and was near these […]
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October 162020
NZ Dollar Mixed After Economic Data, Ahead of Election
The New Zealand dollar was mixed today, though it largely did not go far from the opening level against its major rivals. The notable exceptions were the Great Britain pound and the Australian dollar, with the former one demonstrating a decent gain and the latter one showing a decline versus the kiwi. The BusinessNZ Performance of Manufacturing Index climbed to 54.0 in September from 51.0 in August. While the reading was undoubtedly good, […]
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October 162020
USD/JPY Respecting the 105.09 Support?
The United States dollar versus the Japanese yen currency pair seems to be under bullish control. Long-term perspective From the 111.71 high, the price started a decline that, for the time being, coined the low at 104.00. Along this path, the market crystallized two unfoldings that are trying to emulate ranges. The first one is limited by the 109.08 and 107.00 firm resistance and support, respectively. The second is lined up by 107.00 as resistance […]
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October 152020
Euro Falls on Rising EU Coronavirus Cases and Risk-Off Sentiment
The euro today fell against the US dollar driven the risk-off market sentiment amid rising coronavirus cases in the euro area stoking fears of more lockdowns. The EUR/USD currency pair fell to new 2-week lows as US stimulus talks stall ahead of the November 3 Presidential election as opinion polls place Joe Biden ahead of Trump. The EUR/USD currency pair today fell from a high of 1.1757 in the late Asian session to a low […]
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October 152020
US Dollar Jumps As Initial Jobless Claims Surge to Seven-Week High
The US dollar is rising on Thursday after the US government reported that initial jobless claims surged more than the market had anticipated. The greenback is witnessing an influx of traders who seeking shelter from the slide in the broader financial market. With the leading benchmark indexes in the red and the metal commodities sliding, investors are searching for protection in the buck. According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came […]
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October 152020
Aussie Falls vs. Rivals After Employment Report, Lowe’s Speech
The Australian dollar was weak today, falling against all most-traded rivals, even commodity currencies. Market analysts listed the following reasons for the decline: risk aversion on markets due to concerns that US politicians may fail to agree on a coronavirus relief package ahead of the presidential election, unfavorable Australian employment data, and comments from the Australian central bank’s chief that boosted bets on additional monetary easing. Philip Lowe, Governor […]
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October 152020
GBP/CAD Still Wants Above 1.7132
The Great Britain pound versus the Canadian dollar currency pair seems not to let go of the idea of rising. Long-term perspective The appreciation that came into being from the low of 1.6542 — after the level of 1.6724 was falsely pierced — managed to extend beyond the 1.7567 resistance level. However, further rise was limited by the 1.7705 intermediary level. From that point onward, the price was bounded by the 1.6724 (and 1.6868) as support and 1.7567 […]
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October 142020
Pound Rallies on Brexit Extension Hopes Ahead of Crunch Meeting
The Sterling pound today launched a major rally against the US dollar on news that Boris Johnson was thinking of extending the Brexit talks deadline past tomorrow. The GBP/USD currency pair had initially sunk to new weekly lows before the announcement triggered a shift in investor sentiment to very bullish fueling the rally. The GBP/USD currency pair today fell to a low of 1.2863 in the early London market before rallying to a high of 1.3064 during […]
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October 142020
USD/TRY Crashes to Another Record Low As Turkey Unveils Three-Year Plan
The Turkish lira is crashing to a fresh record low in the middle of the trading week. The lira, which has been one of the worst-performing currencies in 2020, has repeatedly recorded all-time lows. Depleted foreign exchange reserves, slumping economic data, and geopolitical tensions â Ankara is facing pressure on many fronts, and this has weighed on the lira. On Wednesday, Treasury and Finance Minister Berat Albayrak released details of Turkeyâs New Economic Program […]
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October 142020
AUD/NZD Falls Beneath 1.0826. What Next?
The Australian versus the New Zealand dollar currency pair made a surprise shift in direction. Is this only a temporary development? Long-term perspective The rise that started after the validation of 1.0013 as support extended until the 1.0880 high. From that peak, the price retraced under the 1.0826 level, rendering it as a false piercing. After the bulls regained their strength, they started a new surge from the 1.0566 low, not only […]
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