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- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
News
September 112020
US Dollar Weak, Ignores Good Inflation Data
The US dollar was among losers today, falling against most other major currencies and trading on par with the weakest of them, like the Japanese yen, the Great Britain pound, and the Canadian dollar. It looked like the release of US inflation data should be the major event on Friday but traders largely ignored it. The report came out better than expected but had hardly any positive impact on the greenback. […]
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September 112020
Sterling Falls on Brexit Fears and Weak UK GDP Data, Later Rallies
The Sterling pound today fell against the US dollar extending yesterday’s losses amid growing fears of a no-deal Brexit as both sides issue ultimatums. The GBP/USD currency pair has fallen for six of the past eight trading days as investors sell the pound as a hard Brexit appears very likely. The GBP/USD currency pair today fell to a low of 1.2763 before reversing course and rallying to a high of 1.2865 and was trading in positive territory at the time […]
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September 112020
Japanese Yen Weak on Friday, Strong Over Week
The Japanese yen was the weakest currency on the Forex market today but among the strongest for the week. With no unifying theme to drive markets, it is hard to pinpoint an exact reason for the currency’s poor performance, though some market analysts attributed it to the positive market sentiment that made the yen unnecessary in its role of a safe haven. As for Japan’s macroeconomic reports, they were not that bad but it hardly […]
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September 112020
NZ Dollar Strong Despite Drop of Manufacturing Index
The New Zealand dollar was among the strongest currencies on the Forex market today, together with its Australian counterpart. The kiwi managed to rally despite the report that showed a drop in New Zealand’s manufacturing index. The BusinessNZ Performance of Manufacturing Index dropped from 59.0 in July to 50.7 in August, seasonally adjusted. BusinessNZ’s executive director for manufacturing Catherine Beard explained that the lockdown in Auckland was the main reason for the sharp decline: After […]
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September 112020
USD/JPY Points to 107.00?
The United States dollar versus the Japanese yen currency pair seems not to be that willing to go south. But are the bulls able to pull it off? Long-term perspective The firm drop from the 109.85 high appears to have bottomed at the 105.09 support, after printing the low of 104.18. In other words, the depreciation is now limited by the 107.00 — as resistance — and 105.09, respectively. Since the price is now in this range, there […]
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September 102020
Euro Rallies on ECB Rate Decision and High US Jobless Claims
The euro today held on to its gains after the European Central Bank announced its interest rate decision, which was in line with analysts expectations. The EUR/USD currency pair extended its bullish trend during the ECB Governor’s speech, which was relatively hawkish. The EUR/USD currency pair today rallied from an initial low of 1.1800 during the Australian session to a high of 1.1893 during Lagarde’s speech and was headed higher […]
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September 102020
US Dollar Slumps As Initial Jobless Claims Flat, Producer Prices Fall
The US dollar is slumping against many of its G10 currency rivals on Thursday after the latest jobs data was flat, and producer prices declined. The greenback had been staging a comeback for more than a week, but the buck looks to be going through a modest correction toward the end of the holiday-shortened trading week. According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came in at 884,000 for the week ending September […]
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September 102020
GBP/CAD Switched Target to 1.6724?
The Great Britain pound versus the Canadian dollar currency pair seems to have been taken over by the bears. Do the bulls have any chances left? Long-term perspective The appreciation that started from the double bottom market by the 1.6750 and 1.6769 lows, respectively, managed to climb until the 1.7674 peak. In the process, the firm 1.7567 resistance level has been pierced, but as the price retraced soon afterward, the piercing was rendered as a false […]
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September 92020
Canadian Dollar Firm After BoC Policy Meeting
The Canadian dollar was firm today, though fell against other commodity currencies. The loonie rallied even after the Bank of Canada signaled that it plans to keep monetary policy accommodative for a long time. Domestic housing data was favorable but hardly had any impact on the Canadian currency. The BoC held a monetary policy meeting on Wednesday. Surprising no one, the central bank kept its key interest rate […]
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September 92020
Chinese Yuan Renews Gains on Market Rally, Positive Data
The Chinese yuan is looking to start another winning streak after the currency suspended its momentum against the US dollar. The yuan has been on a tear in recent months, testing 6.8 against the greenback, primarily due to favorable domestic economic data and a weakening buck. But escalating US-China tensions and the plunge in equities in recent sessions could limit the yuanâs gains â for now. According to the National Bureau of Statistics, the annualized inflation slipped […]
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