News – Page 3 – The Plot

December 7
2020

AUD/USD at 0.7449 and Closer to 0.7600

The Australian versus United States dollar currency pair seems to be checking every point of the checklist that promises 0.7587. Long-term perspective The appreciation from the 0.6386 support area managed to climb until the 0.7413 high. From there, the price dropped under 0.7320 — which the bulls expected to play the role of support — but failed to get above it once more, leading to the depreciation that sent the price back to the 0.7010 ex-resistance […]

December 4
2020

Canadian Dollar Rallies Against US Peer on Upbeat Jobs Report, Crude Prices

The Canadian dollar today rallied against its US peer after the release of employment reports from both countries with Canada’s beating analysts expectations. The USD/CAD currency pair fell to multi-year lows last seen in October 2018 as the loonie rallied against the weak greenback during the American session. The USD/CAD currency pair today fell from a high of 1.2873 in the Asian session to a low of 1.2804 during the American market and was trading […]

December 4
2020

US Dollar Adds to Weekly Loss Amid Slowest Employment Growth Since May

The US dollar maintained its downward trend to finish the trading week after the US government reported the slowest employment growth rate since May. The disappointing November jobs report coincided with a resurgence in coronavirus cases, as well as jurisdictions imposing new lockdown measures. The lackluster labor snapshot did not hit the financial markets, adding to the traditional safe-haven assetâs 2020 woes. According to the Bureau of Labor Statistics (BLS), the US labor […]

December 4
2020

Pound Firm Despite Fresh Bump in UK/EU Trade Negotiations

The Great Britain pound was firm today, rising against most of its major rivals, despite a fresh bump on the road to a post-Brexit trade deal between the United Kingdom and the European Union. The sterling was getting support this week from hopes that the UK and the EU will be able to reach a trade deal before the deadline on December 31. But there are also doubts as some of the EU politicians think Britain […]

December 4
2020

Euro Rallies Against Weak Dollar for the Fourth Consecutive Day

The euro today rallied to new highs against the US dollar for the fourth consecutive session boosted by investor optimism about the global economic recovery. The EUR/USD currency pair also benefitted from the greenback’s overall weakness as the global reserve currency lost its safe-haven appeal due to the risk-on market mood. The EUR/USD currency pair surged from a low of 1.2138 during the Asian market to a high of 1.2176 in the mid-European session and was trading near […]

December 4
2020

Good Retail Sales Report Fails to Boost Aussie

The Australian dollar was weak today, falling against all other most-traded currencies. That is despite domestic macroeconomic data that beat expectations. The Australian Bureau of Statistics reported that retails sales rose by 1.4% in October from September on a seasonally adjusted basis. While the reading was slightly lower compared with the preliminary estimate of a 1.6% increase, it was substantially better than the median forecast that has […]

December 4
2020

Bears Marching Towards 103.15 on USD/JPY?

The United States dollar versus the Japanese yen currency pair seems to be under undeterred bearish dominance. Are the bulls just around the corner? Long-term perspective The fall that started at 109.85 sent the price — in the first instance — to the 106.07 low, which is under the firm support level of 107.00 — a psychological level. Because of this, the point that the price returned above 107.00 was of little importance for the bears. This is because, […]

December 3
2020

Turkish Lira Extends Rebound Despite Higher Inflation, Bearish Locals

The Turkish lira is rallying against some of its major currency peers on Thursday, despite concerning macro data that could further force locals to scoop up more US dollars. The lira has staged a significant rebound over the last month as financial markets showcase their confidence in the nationâs push to a more orthodox monetary policy. But the resurgence in the lira has enabled the locals to scoop up dollars, highlighting that […]

December 3
2020

USD/CAD Struggles for Direction As Initial Jobless Claims Fall to Pandemic-Era Low

The US dollar maintained its bearish pattern on Thursday after the US government reported a new coronavirus pandemic-era low for the number of Americans filing for first-time unemployment benefits. The greenback has had a roller coaster ride throughout the public health crisis, hitting a multi-year pique of 103.00 before cratering 15% to its lowest level since early 2018. Has the greenback hit bottom, or is there still room for hemorrhaging? According to the Department […]

December 3
2020

Pound Rallies to 3-Year Highs Against Dollar on Brexit Deal Optimism

The Sterling pound today rallied to 3-year highs against the US dollar boosted by investor optimism about a potential Brexit deal boosted by Simon Coveney’s comments. The weak dollar also fueled the GBP/USD currency pair’s rally following yesterday’s US ADP employment change report, which missed analysts expectations. The GBP/USD currency pair today rallied from a low of 1.3353 in the Australian market to a high of 1.3454 in the early American session and was […]