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News
September 152020
Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers
The euro today rallied higher against the US dollar buoyed by the positive investor sentiment and mostly in-line macro reports from across the euro area. The EUR/USD currency pair edged higher for the fifth consecutive session as the dollar remained on the back foot due to the looming November US Presidential elections. The EUR/USD currency pair today rallied from an initial low of 1.1858 in the Australian session to a high of 1.1900 before retracing some of its gains […]
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September 152020
Possible Support at 1.2777 on GBP/USD?
The Great Britain pound versus the US dollar currency pair seems to be bouncing off 1.2777. Is this a sustainable appreciation? Long-term perspective From the 1.2075 low, after the validation of 1.2092 as support, the price began an ascending trend, as marked by the 1.2818 higher high and 1.2251 higher low, respectively. This fueled the bullish enthusiasm and, as a result, the price climbed, almost touching the 1.3502 intermediary level. Along the path of this rise, […]
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September 142020
Chinese Yuan Extends Winning Streak, Tests 6.8 on Liquidity
The Chinese yuan is extending its winning streak against the US dollar to start the trading week, driven by a liquidity injection and a recovering economy. A slumping greenback further contributed to the yuanâs ascent, allowing the currency to soon test 6.8, which would be the first time since June 2019. On Monday, the Peopleâs Bank of China (PBoC) announced that it injected a net $33.63 billion of liquidity into the nationâs financial system through […]
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September 142020
Analysts Remain Unconvinced by Sterling’s Rally
The Great Britain pound was the strongest currency on the Forex market today, rallying against other most-traded counterparts. But analysts were not convinced by the rally, arguing that it was a result of short-sellers taking profits, not supportive fundamentals. With not many fundamental factors supporting the currency and several high-profile events this week, specialists think that it is too risky to buy the sterling. The main theme for Britain’s […]
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September 142020
Euro Firm on Positive Market Sentiment & Good Data, Can Face Troubles in Future
The euro was firm today, rising against most of its rivals, though posting losses versus the Great Britain pound and the New Zealand dollar. Yet not all fundamentals were positive to the currency, and it may face troubles extending rally for the rest of the week. The market sentiment was positive on Monday as global stocks rallied. The good news headlines about the COVID-19 vaccine development also helped investors to maintain optimism. And that […]
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September 142020
Japanese Yen Soft amid Risk Appetite, Manages to Hold Ground Against Some Rivals
The Japanese yen was relatively soft today due to the positive market sentiment limiting demand for the currency in its role as a safe haven. Nevertheless, the yen managed to hold ground against a range of its major rivals, even gaining on some of them. The pharmaceutical giant AstraZeneca announced on Saturday that it resumes trials of its coronavirus vaccine. The company had to halt tests last week after one of the test subjects demonstrated symptoms […]
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September 142020
NZ Dollar Rises After Announcement of Restrictions Easing
The New Zealand dollar rose today, managing to log gains against all other most-traded currencies (though by now, the kiwi has erased its rally versus the Great Britain pound). The likely reason for the currency’s great performance was the news about the easing of coronavirus-related restrictions in the country. The positive general market sentiment also likely played its part in the rally. Prime Minister Jacinda Ardern announced that the government will lower […]
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September 142020
AUD/USD Limited by 0.7320?
The Australian versus the US dollar currency pair seems to be bounded by 0.7191 and 0.7320. Did the bulls lost their strength? Long-term perspective The appreciation from the 0.5701 low, and which extended until the 0.7436 high, conquered many levels along its way. However, the firm 0.7320 resistance area appears to be a challenge for the bulls that, until now, got used with relatively easy victories. Even more, the fact that […]
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September 112020
USD/CNY Flat As New Bank Loans, Credit Growth Beat Market Forecasts
The Chinese yuan is trading flat against the US dollar to finish the holiday-shortened trading week. The yuan is trying to find support on positive numbers relating to credit markets. The currency has appreciated in recent months as the worldâs second-largest economy stabilizes and rebounds in the aftermath of the coronavirus pandemic. According to the Peopleâs Bank of China (PBoC), financial institutions extended $187.25 billion in new yuan loans in August, up 29% from the previous month. The median […]
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September 112020
Euro Rallies Then Falls Against the Dollar on Upbeat US Inflation
The euro today rallied higher against the US dollar following hawkish speeches by European Central Bank policymakers during the early European session. The EUR/USD currency pair later gave up some of its gains as the Brexit rhetoric weighed on the single currency combined with the upbeat American inflation data. The EUR/USD currency pair today rallied from an initial low of 1.1823 in the Australian market to a high of 1.1874 in the mid-European session before falling […]
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