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News
September 232020
USD/INR Slumps to One-Month Low As Economy Forecast to Crash in 2020
The Indian rupee is slumping to a one-month low against the US dollar, driven by a bleak forecast for the developing countryâs economy in 2020. But while market observers are anticipating an economic contraction, officials are looking ahead and expecting improvements across the nation. But could the rupee threaten its gains over the last few months? The United Nations Conference on Trade and Development (UNCTAD) published a new Trade and Development Report for 2020. It […]
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September 232020
NZ Dollar Drops After RBNZ Hints at Additional Monetary Easing
The New Zealand dollar dropped today, falling against some of its rivals, like the US dollar, for the third consecutive day. The currency declined following the monetary policy announcement from the nation’s central bank. The Reserve Bank of New Zealand confirmed that it continues to prepare additional measures to stimulate the New Zealand economy. The RBNZ left its monetary policy unchanged, with the key interest rate staying at 0.25% and the Large Scale […]
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September 232020
Rise on GBP/CAD Halted at 1.7156?
The Great Britain pound versus the Canadian dollar currency pair seems to have ceased the appreciation phase. Is this only a small correction? Long-term perspective The appreciation that started after the double bottom — defined by the 1.6750 and 1.6769 lows, respectively — played its role, ended after the 1.7567 level interrupted the movement twice — first by rendering the 1.7674 high as a false piercing and then by stopping the advance that started from 1.7216. After […]
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September 222020
Pound Falls Against Dollar on Brexit and New UK COVID-19 Rules
The Sterling pound today fell against the US dollar as investors remained wary of the current state of post-Brexit trade talks with the rising chances of a no-deal scenario. The GBP/USD currency pair’s decline was also fueled by the increasing coronavirus cases in the UK, which saw the government impose new restrictions to curb its spread. The GBP/USD currency pair today fell from a high of 1.2867 in the mid-London session to a low of 1.2711 in the American market and was […]
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September 222020
Chinese Yuan Tests 6.7 As PBoC Leaves LPR Unchanged, Injects More Liquidity
The Chinese yuan is continuing to make gains against the US dollar on Tuesday ahead of the manufacturing and non-manufacturing purchasing managersâ index (PMI) readings. The yuan, which had cratered to as low as 7.17 against the greenback, has been one of the top-performing Asian currencies this year, advancing nearly 3% year-to-date. Could the yuan defy market expectations even more? On Monday, the Peopleâs Bank of China (PBoC) left its benchmark lending rate […]
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September 222020
NZ Dollar Forecast for Week of September 21-25
The New Zealand dollar rallied strongly since the last year, though it was moving sideways since the summer months of this year. Last week was very good for the currency despite the sharp decline of New Zealand’s economy as the kiwi rivaled the Japanese yen for the title of the strongest currency on the Forex market. But what this week holds for the New Zealand dollar? Last week’s macroeconomic data was somewhat inconclusive. While […]
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September 222020
Next Target on GBP/USD: 1.2514?
The Great Britain pound versus the US dollar currency pair, after the last drop, seems to be governed by the bears. Can the bulls turn the situation in their favor? Long-term perspective The rally that started after the validation of 1.1476 as support began an ascending trend that extended a hair away from 1.3502. Prior to the last upwards leg, the currency pair found itself above the 1.3000 intermediary level (which happens to be a psychological […]
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September 212020
US Dollar Spikes As Investors Flee Market Selloff, Seek Safe-Haven Shelter
The US dollar is rallying against most of its currency competitors to kick off the trading week. The greenback, which has cratered about 10% since peaking at 103.00, is extending its gains in September as investors flee the broader financial market selloff and seek shelter in a traditional safe-haven asset. The rising number of new COVID-19 infections has eaten away at risk appetite. With the upcoming cold and flu season on the horizon, many […]
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September 212020
AUD/USD Challenged by the 0.7320 Resistance Area
The Australian versus the US dollar currency pair wants to continue the appreciation, but it seems to be limited by the 0.7320 resistance. Is this the end of the road for the bulls? Long-term perspective The rally that came about after the strong retracement from the 0.5701 low, which validated the 0.5516 support, started an ascending movement that extended until the .07413 high. The high is part of what appears to be a false piercing of the 0.7320 firm […]
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September 192020
US Dollar Ends Confusing Week Mixed
The past trading week was rather confusing, with many currencies moving in unexpected directions. For example, the Japanese yen and the Swiss franc are both considered to be safe currencies and thus usually move in the same direction. But this week, the Japanese yen ended trading as the strongest currency on the Forex market, while the Swiss franc was the weakest one. The US dollar was not an exception, moving unpredictably after the FOMC monetary […]
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