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News
September 182020
Turkish Lira Falls to a New Record Low Amid Emerging Market Selloff
The Turkish lira plunged to a new record low against the US dollar to finish the trading week, adding to its year-to-date plunge to 28%. The lira joined the broader emerging market currency selloff as the Federal Reserveâs downbeat assessment of the worldâs largest economy sent investors into safer assets. Could the lira next test 8.0 against the buck? On Thursday, state-owned financial institutions sold approximately $500 million in global foreign exchange markets […]
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September 182020
Euro Falls Against US Dollar, Later Recovers to Trade Sideways
The euro today fell against the dollar before recovering to trade sideways boosted by upbeat data from across the euro area and positive market sentiment. The EUR/USD currency pair today fell to its daily lows after the release of upbeat US consumer sentiment data but recovered quickly as investor risk appetite remained elevated. The EUR/USD currency pair today fell to a low of 1.1827 in the early American session before recouping all […]
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September 182020
Canadian Dollar Soft After Retail Sales Miss Expectations
The Canadian dollar was soft today, falling against other most-traded currencies, after domestic retail sales data disappointed traders. The losses were limited against most of the rivals, though, with the exception of the Japanese yen and the New Zealand dollar — the two strongest currencies on the Forex market during Friday’s trading. Statistics Canada reported that retail sales rose by 0.6% in July, missing the consensus forecast of a 0.8% increase. It was […]
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September 182020
Australian Dollar Stable, Falls vs. Japanese Yen & NZ Dollar
The Australian dollar was stable today, staying flat against most other currencies, though fell versus the Japanese yen, which managed to recover from the earlier losses to trade as one of the strongest currencies on the Forex market on Friday. The Aussie fell against the New Zealand dollar too as it was also among the strongest, rising to the highest level in a year and a half. Market analysts speculated that one of the factors supporting the Aussie as well […]
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September 182020
Pound Rallies on Brexit Deal Hopes and Upbeat UK Retail Sales
The Sterling pound today fell then rallied against the US dollar to trade at breakeven amid investor optimism that the EU and UK could sign a post-Brexit deal soon. The GBP/USD currency pair today attempted to extend its 4-day rally boosted by the upbeat UK retail sales data and the positive investor sentiment that favoured risk assets. The GBP/USD currency pair today fell to a low of 1.2941 in the early Asian market before […]
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September 182020
Japanese Yen Starts Friday Weak, Rebounds Later
The Japanese yen started Friday’s trading weak but managed to rebound and is now trading as the strongest currency on the Forex market. The currency gained on the US dollar as the FOMC-inspired rally of the greenback continued to fade. Today’s macroeconomic data in Japan demonstrated deflation of consumer prices, though experts were expecting that. The Statistics Bureau of Japan reported that the national core Consumer Price Index, which excludes fresh food, fell by 0.4% in August […]
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September 182020
USD/JPY Under the 105.00 Handle
The US dollar versus the Japanese yen currency pair fell under the major 105.09 support area. Can the bulls still recover? Long-term perspective Starting with the 111.71 high, which came after the sharp rally that validated the 101.42 support level, the currency pair has been under constant bearish pressure. The bearish presence can be observed, first of all, by checking the lower highs and — except for 106.07 — lower […]
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September 172020
Japanese Yen Extends Winning Streak As BoJ Maintains Ultra-Loose Support
The Japanese yen is extending its winning streak against many of its most traded currency counterparts on Thursday. The yen found support in the central bank leaving interest rates in subzero territory and keeping its bond-buying program. In addition to the ultra-loose efforts of the Bank of Japan (BoJ), the institution plans to coordinate with new Prime Minister Yoshihide Suga on a wide range of policies. Governor Haruhiko Kuroda and his colleagues voted to keep its […]
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September 172020
US Dollar Looks for Direction As Jobless Claims Fall to Pandemic Low
The US dollar is looking for direction against many of its currency rivals on Thursday after the federal government reported that the number of Americans filing for first-time unemployment benefits declined to a pandemic low. The US central bankâs important September policy meeting continues to weigh on the buck, while uncertainty surrounding Congress’ newest stimulus package sparks concern in the broader financial markets. According to the Department of Labor, initial jobless claims came in at 860,000 […]
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September 172020
Sterling Tanks After BoE Talks About Negative Interest Rates
The Great Britain pound sank today, overtaking the New Zealand dollar as the weakest currency on the Forex market during Thursday’s trading. The sterling dropped after the monetary policy announcement from the Bank of England. While the central bank kept its policy unchanged, the wording of the statement led to the drop of the currency. As was widely expected, the BoE left its monetary policy unchanged, with the benchmark interest rate remaining at 0.10% and the size of the Asset Purchase […]
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