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News
August 242020
NZ Dollar Firm amid Positive Market Sentiment, Ignores Historic Drop of Retail Sales Values
The New Zealand dollar traded higher against the vast majority of most-traded currencies today, including other commodity currencies, which themselves were firm thanks to the positive market sentiment. Today’s macroeconomic data released in New Zealand was not very good but that did not prevent the kiwi from rising. Investors were in a positive mood after Financial Times reported that the US government wants to bypass […]
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August 242020
USD/CNY Drops As PBoC Injects More Liquidity Into Economy
The Chinese yuan is enjoying another session of modest gains to start the trading week, with much of the strength coming at the expense of the US dollar. The yuanâs ascent on Monday is being driven primarily on the central bank injecting more liquidity into the financial system. Could the yuan test 6.8 next? The currencyâs performance may hinge on US-China trade talks as it will be quiet on the data front this week. On Monday, the Peopleâs […]
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August 242020
Bears Joining Forces on AUD/USD from 0.7275 High?
The Australian versus the US dollar currency pair seems to be making appreciation attempts in vain, as each of them is immediately met by a decisive retracement. Long-term perspective The rally from the 0.5701 low managed to extend until the 0.7275 high. However, as can be seen on the chart, the latter part of the ascending trend is losing steam. This lack of bullish determination is pointed out by the behavior that came after the piercing of the important […]
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August 212020
USD/CHF Rises As SNB, Others Wind Down Dollar Liquidity Operations
The Swiss franc is rising to finish the trading week as the Swiss National Bank (SNB) announced that central banks are scaling back their US dollar liquidity operations. As foreign demand diminishes, central banks agreed that currency swap agreements were no longer necessary. Does this bode well for the greenback, or does it signal a decline ahead for the buck? According to the SNB and other major central banks, the Federal […]
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August 212020
Sterling Pound Crashes Against the Dollar as Risk Appetite Dissipates
The Sterling pound today crashed against the US dollar as investor sentiment turned decisively bearish favouring the safe-haven greenback, which rallied. The GBP/USD currency pair today fell despite the release of upbeat UK retail sales data earlier in the session as investors fled riskier assets, including equities. The GBP/USD currency pair today fell from a high of 1.3255 in the early London session to a low of 1.3059 during the American market losing over […]
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August 212020
USD/JPY Faced with the 107.00 Resistance
The US dollar versus the Japanese yen currency pair seems to be indecisive, but there are some signs that the bears could already be controlling the situation. Long-term perspective The drop from the 109.85 high managed to find temporary support at the 107.00 psychological level. However, the bears were able to resume the fall, driving the price until the 104.18 low. From 104.18, the bulls recovered in a very convincing way, being able […]
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August 202020
Euro Seesaws Against the Dollar on Eurozone and US Macro Data
The euro today seesawed between losses and gains against the US dollar following yesterday’s massive drop after the release of the FOMC meeting minutes. The EUR/USD traded in a wide range today marked by declines and rallies as the single currency remained mainly at the greenback’s mercy after yesterday’s resurgence. The EUR/USD currency pair today fell from a high of 1.1868 in the early European market to a low of 1.1802 in the initial American session but had recouped its […]
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August 202020
US Dollar Rises As Weekly Jobless Claims Climb Back Above One Million
The US dollar is recording modest gains on Thursday after the number of Americans filing for first-time unemployment benefits moved back above the one million mark. The greenback is looking to advance for two consecutive sessions as the safe-haven currency has cratered 7% since May. Where is the buck headed, and are jobless claims on an upward trend? According to the Department of Labor, initial jobless claims came in at 1.106 million in the week ending August […]
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August 202020
GBP/CAD Has Trouble Rising from 1.7285
The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time making new gains. Are the bears that determined? Long-term perspective The rally from the 1.6542 low got stopped in its tracks by the firm 1.7567 resistance level. As a result, the price began a depreciation phase, one that brought it at the 1.6724 support. From the 1.6769 low, the bulls started a rally that looked pretty promising. […]
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August 192020
Canadian Dollar Rallies Against US Peer, Falls on FOMC Minutes
The Canadian dollar today rallied slightly against the US dollar after the release of the mixed Canadian inflation data for July before losing its gains later. The USD/CAD currency pair then recouped its losses as the greenback recovered and rallied higher during the American session. The USD/CAD currency pair today fell to a low of 1.3133 before recovering and rallying to a high of 1.3187 and was near these highs at the time of writing. The currency pair fell […]
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