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News
April 142020
Australian Business Confidence at Record Low, Aussie Struggles to Keep Gains
The Australian dollar was rising at the start of Tuesday’s session but has reversed movement and is now trading below the opening level against most major currencies, though currently, it has managed to rise against the US dollar a bit. The Aussie performed better against its commodity-linked counterparts. According to the Business Confidence Survey released by National Australia Bank today, the confidence index dropped to the lowest level on record. The report said: […]
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April 142020
Bulls Tired at 0.8918 on AUD/CAD?
The Australian dollar versus the Canadian dollar currency pair seems to have some trouble passing the 0.8918 level. Are the bears planning something? Long-term perspective The appreciation that started at the low of 0.8062 managed to find its way to the old support area defined by 0.8918. The rally from 0.8472 succeed in passing the double resistance made possible by the level of 0.8692 and the trendline that starts from the high of 0.9149, but as it approached the old […]
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April 142020
Australian Dollar Forecast for April 13-17, 2020
The Australian dollar was demonstrating an impressive performance so far in April. But can the currency maintain its upward momentum this week? Market analysts have doubts about that. The Aussie looked surprisingly resilient considering that the coronavirus pandemic rages on, making safe options more appealing to investors than riskier ones. But the currency of Australia managed to log sharp gains last week despite that. Experts […]
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April 132020
Chinese Yuan Weakens As Bank Loans Top $1 Trillion in Q1
The Chinese yuan is weakening against its major currency competitors to kick off the trading week. The yuan is trending downward on foreign exchange markets on new data that shows the central bank pumped $1.01 trillion into the worldâs second-largest economy in the first quarter. The Peopleâs Bank of China (PBoC) also generated headlines for raising its stake in the nationâs largest mortgage lender. Is the stimulus peanuts, or will Beijing place […]
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April 132020
AUD/USD Back Above 0.6313
The Australian dollar versus the US dollar currency pair succeeded in getting back above the important level of 0.6313. Could the bears be just around the corner? Long-term perspective After the retracement form the 0.5911 level, the price went past the 0.6015 level, extending two thirds between 0.6015 and 0.6313. After that, a correction came into being, one that found support at 0.6015. This confirmation led to an appreciation that managed, […]
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April 102020
Pound Inches Higher on Good Friday as Markets Remain Closed
The pound today inched higher against the US dollar as most global equity markets remained closed due to the Good Friday holiday celebrations. The GBP/USD currency pair posted gains as investors celebrated the fact that Boris Johnson, the UK Prime Minister, was out of the intensive care unit. The GBP/USD currency pair today rallied from a low of 1.2444 in the Asian session to a high of 1.2486 in the mid-London session and was near these highs […]
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April 102020
Bears Taking Control from 108.85 on USD/JPY
The US dollar versus the Japanese yen currency pair may have failed to win the bulls, after all? Long-term perspective The appreciation that started after the confirmation of the 101.18 monthly support reached the 111.70 high. After that, a sharp decline almost touched the 106.79 support level, and then rallied again. But the price was not able to sustain the gains above the 108.85 level. In this case, the bears are expected to keep […]
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April 92020
Euro Surges After Fed Announces New $2.3 Billion Stimulus Package
The euro today rallied higher against the US dollar after the US Federal Reserve announced a $2.3 trillion stimulus package to aid small businesses. The EUR/USD currency pair hit a new weekly high boosted by the risk-on market mood as global equities rallied higher. The EUR/USD currency pair today rallied from a low of 1.0841 in the late Asian session to a high of 1.0951 in the American session and was trading near these highs at the time […]
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April 92020
Canadian Dollar Mixed As COVID-19 Kills One Million Jobs in March
The Canadian dollar is mixed on Friday as the federal government released the worst jobs report in the nationâs history. Due to the coronavirus pandemic shutting down the country from coast to coast, the economy shed more than one million jobs, significantly raising the unemployment rate in March. And this is just the beginning, experts warn. According to Statistics Canada, the economy lost 1.011 million jobs last month, higher than the market forecast of 350,000. […]
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April 92020
US Dollar Gains As Jobless Claims Top 6 Million, Fed Unveils Main Street Stimulus
The US dollar is gaining against its key currency rivals at the end of the holiday-shortened trading week. The greenback is rising, despite the federal government reporting more than six million jobless claims that were more than what analysts had anticipated. The buck is also climbing on the Federal Reserve announcing a $2.3 trillion stimulus program to support Main Street lending. According to the Department of Labor, initial jobless claims […]
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