News – Page 21 – The Plot

October 9
2020

Bearish Resistance at 106.12 on USD/JPY?

The United States dollar versus the Japanese yen currency pair may have trouble passing the 106.12 level. Is this just a bullish pause? Long-term perspective The drop from the 111.71 peak delivered two flats. The first one is limited by 109.00 as resistance — with the amendment of the 109.85 fake breakout — and 107.00 as support — joined by two false piercings that were bounded by the 106.12 intermediary level. The second is confined within […]

October 8
2020

Euro Falls Against Strong Dollar Despite Revived Stimulus Talks

The euro today fell against the US dollar driven by the risk-off market mood, which saw riskier assets selloff in favour of safe-haven assets such as the greenback. The EUR/USD currency pair’s decline occurred at a major resistance level as sellers stepped in driving the pair to its daily lows buoyed by the weak German data. The EUR/USD currency pair today rallied to a high of 1.1781 in the early Frankfurt session before falling to a low of 1.1733 in the early American […]

October 8
2020

US Dollar Seeks Direction As Initial Jobless Claims Fall to Fresh Pandemic Low

The US dollar is searching for direction on Thursday after the number of Americans filing for first-time unemployment benefits fell to a fresh pandemic low. But the latest numbers indicate that jobless claims are sliding at a sluggish pace as hiring slows down. With Washington in a stalemate over stimulus funding, it might be hard to forecast the greenbackâs performance in the short-term amid political uncertainty. According to the Department of Labor, initial jobless claims came […]

October 8
2020

1.7285 Next Target for GBP/CAD?

The Great Britain pound versus the Canadian dollar currency pair seems to have found support at 1.7132. Are the bulls ready for a new march? Long-term perspective After the retracement that came about with the definition on the chart of the 1.6542 low, the market entered into an extended range trading phase, limited by 1.7567 as resistance and 1.6724 as support. The last upward pointing movement came into being after the price noted the double bottom highlighted […]

October 7
2020

Sterling Pound Rallies As UK Govt Prepares for No-Deal Brexit

TheÂ Sterling pound today rallied against theÂ dollar onÂ positive investor sentiment before falling onÂ Brexit jitters after comments from theÂ Irish government. TheÂ GBP/USD currency pair later rallied even after theÂ UK said that it was actively preparing forÂ aÂ no-deal Brexit scenario asÂ theÂ October 15 deadline approaches. TheÂ GBP/USD currency pair today fell toÂ aÂ low ofÂ 1.2846 inÂ theÂ early American session before rallying close toÂ its daily highs […]

October 7
2020

Japanese Yen Weakens As BoJ Warns of âVery Highâ Uncertainty Amid COVID-19 Pandemic

The Japanese yen is under pressure in the middle of the trading week as the central bank warned that economic uncertainty remains âvery highâ because of the coronavirus pandemic. But the yen could find support on macroeconomic data suggesting the contraction in the worldâs third-largest economy might have subsided. Could the traditional safe-haven asset continue its strong 2020 in the final quarter? Speaking in a video message to an annual meeting of securities firms, Bank of Japan (BoJ) […]

October 7
2020

Euro Strong After Market Sentiment Recovers

The euro was strong today, rising against all other most-traded currencies, with the exception of the Australian dollar. The possible reason for the rally was the market sentiment, which was recovering after confusing tweets from US President Donald Trump. Macroeconomic reports released in the eurozone today were mixed. Markets entered a risk-off mode after the news broke out that Trump halts negotiations with Democrats about a big stimulus […]

October 7
2020

AUD/NZD Prepared to Break 1.0826?

The Australian versus the New Zealand dollar currency pair seems to be willing to go towards the north. Do the bulls have the power to do so? Long-term perspective The appreciation from the 0.9994 low extended, after a correction phase bounded by the 1.0880 high and 1.0566 low, respectively, to 1.1043. Noteworthy is that the 1.1043 high comes outside of the resistance area that the firm level of 1.0983 represents. And because — after such a departure — the bulls […]

October 6
2020

Canadian Dollar Falls Against US Peer on Trump Stimulus Tweets

The Canadian dollar today gave up most of its gains against the US dollar as the latter rallied boosted by the risk-off market sentiment as stimulus hopes dissipated. The USD/CAD currency pair rallied higher during the American session as President Donald Trump dashed all hopes of a US stimulus deal ahead of the November 3 elections. The USD/CAD currency pair today rallied from a low of 1.3242 during the Asian market to a high of 1.3316 during […]

October 6
2020

USD/TRY Retests 7.8 As Inflation Surges, Geopolitical Tensions Escalate

The Turkish liraâs recovery since hitting all-time lows against the US dollar and the euro has stalled. The currency is once again testing 7.8 per dollar amid ballooning inflation and rising geopolitical tensions in the region. Global financial markets have been apprehensive about Ankaraâs potential involvement in the Armenia-Azerbaijan conflict, with President Recep Tayyip Erdogan supporting Baku in the renewed battle. According to the Turkish Statistical Institute, the consumer price […]