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News
September 92020
NZ Dollar Refuses to Fall in Face of Negative Economic Data
Both domestic macroeconomic data and the general negative market sentiment were detrimental to the New Zealand dollar. But that did not prevent the currency from holding its ground today, rising at least a bit against all other most-traded peers, except for the Australian dollar. Statistics New Zealand reported that manufacturing sales dropped by 11.9% in the June quarter after showing no change in the previous three months. Business statistics […]
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September 92020
Australian Dollar Holds Ground Despite Risk Aversion
The Australian dollar rose a bit today, gaining against all other most-traded rivals, despite risk aversion prevailing on markets. Domestic macroeconomic data was good but is unlikely to provide the currency substantial support. Markets were in a risk-off mode in part due to the sell-off of tech stocks. Another reason for worry was the news that drug producer AstraZeneca had to pause COVID-19 vaccine tests after one of the test subjects […]
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September 92020
GBP/USD Pullback from 1.3502 Follow-up
The Great Britain pound versus the US dollar currency pair sharply depreciated. Are the bears strong enough to continue? Long-term perspective After printing the 1.2075 low and validating the firm 1.2092 support, the price began an ascending movement. The movement topped at 1.2818 before retracing to the 1.2251 low, from where another appreciation commenced. This laid the foundation for an ascending trend, one which has defined an impulsive swing so strong that […]
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September 82020
Euro Falls Against US Dollar Extending Its 6-Day Losing Streak
The euro today fell against the US dollar for the sixth consecutive session despite the release of positive data from across the euro area. The risk-off investor sentiment drove the EUR/USD currency pair’s decline amid rising China-US tensions and the global equity markets selloff. The EUR/USD currency pair today fell from a high of 1.1827 in the early Frankfurt session to a low of 1.1766 in the early American market but was slightly off these lows […]
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September 82020
Japanese Yen Rallies Against US Dollar on Upbeat GDP Data
The Japanese yen today traded sideways against the US dollar during the Asian session despite the release of upbeat Japanese GDP data. The USD/JPY currency pair later fell as the yen rallied against the much weaker greenback during the American session. The USD/JPY currency pair today fell from a high of 106.38 in the London market to a low of 105.86 during the American market and was near these lows at the time of writing. The currency pair traded […]
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September 82020
Canadian Dollar Slumps to Two-Week Low As 8% Oil Crash Impacts Loonie
The Canadian dollar is slumping to its lowest level in two weeks against the US dollar on Tuesday. The loonie is plummeting primarily on crude oil crashing as much as 9%, joining the broader market selloff. It is going to be relatively quiet on the data front this week, which means the loonie will find direction on energy prices and the central bankâs midweek policy meeting. October West Texas Intermediate (WTI) crude […]
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September 82020
Bulls Determined to Conquer 1.0983 on AUD/NZD
The Australian versus the New Zealand dollar currency pair seems not to be willing to give in to any bearish request. But will the bulls succeed in their endeavor? Long-term perspective From the 0.9991 low, which validated the 1.0013 support level, the price extended until the 1.0880 high. This appreciation handed over the baton to a corrective phase that stretched between the 1.0880 high and the 1.0566 low. As the 1.0566 low confirmed yet another […]
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September 72020
US Dollar Index Tops 93.00 As Bullish Data Supports Greenback
The US dollar is continuing its winning streak on foreign exchange markets during the Labor Day holiday. The greenback has been staging a rebound over the last several trading sessions after cratering 11% since hitting a peak of 103.00 earlier this year at the height of the coronavirus pandemic. The buck has been rallying on a multitude of factors, including bullish economic data and COVID-19 concerns, but analysts are still maintaining a bearish […]
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September 72020
Pound Sinks as Threat of No-Deal Brexit Rises
The Great Britain pound fell against all other most-traded currencies today as the no-deal Brexit looks more and more likely. Better-than-expected housing data released in Britain on Monday did nothing to help the currency. According to reports, the UK government is preparing the internal market bill that will undermine parts of the Withdrawal Agreement reached between the United Kingdom and the European Union. It will complicate negotiations between the UK and the EU and can […]
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September 72020
Bulls Challenged from 0.7320 on AUD/USD
The Australian versus the US dollar currency pair slipped under the major 0.7320 level. Are the bears coming back? Long-term perspective The appreciation that started from the 0.5701 low extended until the 0.7413 high. Reaching the high also meant piercing the firm 0.7230 level. So, as the bulls inscribed the price above the level, the expectations were for the level to be validated as support. However, the price slipped sharply under 0.7230, printing the low […]
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