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News
March 242020
Swiss Franc Extends Fall Against US Dollar on SNB Interventions
The Swiss franc is slumping on Tuesday as the central bank continues to intervene in foreign exchange markets and control the value of the currency. Despite being a conventional safe-haven asset for global investors, the francâs appeal might diminish as the nation potentially slips into a recession. Last week, the Swiss National Bank (SNB) confirmed that it would escalate its foreign currency acquisitions to prevent the further rise in the franc. With the COVID-19 global pandemic decimating […]
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March 242020
Pound Rallies on Upbeat Sentiment Despite Mixed UK PMI Prints
The pound Sterling today posted gains against the US dollar ignoring the weak UK PMI data points released by Markit Economics in the early Londo session. The GBP/USD steadily inched higher from the new multi-year highs posted on Last week as the British government’s lockdown measures had a positive impact on investor sentiment. The GBP/USD currency pair today rallied from an initial low of 1.1578 in the Asian session to a high of 1.1790 in the early American […]
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March 242020
AUD/JPY Could Reach 67.03
The Australian dollar versus the Japanese yen currency pair may be heading towards the north. Is this just a bearish opportunity to get better shorting prices? Long-term perspective From the peak of 76.54, after the price confirmed 76.02 as resistance, a strong depreciation took place, one that crossed important support levels without much difficulty. The fall was so pronounced that, aside from gapping, it printed the low […]
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March 232020
Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike
The Canadian dollar today spiked higher against the US dollar after the Federal Reserve announced massive quantitative easing measures causing the greenback to fall. The USD/CAD currency pair fell briefly before recouping its losses and heading higher as the dollar recovered and the Loonie was weighed down by weak crude oil prices. The USD/CAD currency pair today fell to a low of 1.4335 in the early American session before reversing course and rallying to a high […]
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March 232020
US Dollar Gains As Federal Reserve Announces Unlimited QE
The US dollar is gaining on a couple of major currency rivals to start the trading week, despite the Federal Reserve announcing a massive expansionary program to rescue financial markets. With volatility still plaguing equities, investors continue to dive into the greenback to shield themselves from the chaos. The buck may spike again as the federal government gets ready to pass a massive stimulus bill. On Monday, the US central bank unveiled that it is […]
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March 232020
Aussie Weak amid Lockdown, QE Bond Buying
The Australian dollar was among the weakest currencies on the Forex market together with its commodity-related counterparts today due to coronavirus panic that makes investors seek safer options. While it has trimmed its losses by now, the Aussie is still trading below the opening level against the majority of most-traded currencies. The Australian government announced lockdown to limit the spread of COVID-19, shutting down non-essential services. That includes pubs, […]
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March 232020
NZ Dollar Drops After RBNZ Announces QE Program
The New Zealand dollar dropped today after the Reserve Bank of New Zealand made a surprise announcement of a quantitative easing program. Currently, the kiwi has trimmed its losses but is still trading below the opening level against its most-traded counterparts, with the exception of the Australian dollar. The Aussie was dragged down by bond purchases under the quantitative easing program of its own central bank. The RBNZ made a surprise announcement […]
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March 232020
Is 0.5511 a Bearish Barrier on AUD/USD?
The Australian dollar versus the US dollar currency pair dropped until the 0.5511 level. The bulls may have some reasons to keep a close eye. Long-term perspective The fall that commenced after 0.6700 was confirmed as resistance continued and went as low as 0.5511. After touching the level, it retraced strongly, almost reaching the 0.6015 level. It can be considered that the price is now in the middle of a possible range, limited […]
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March 202020
US Dollar Weakens, Still Poised for Best Week Since Financial Crisis
The US dollar is weakening against a couple of major currency rivals at the end of the trading week, but the greenback is still on track for its best week since the financial crisis more than a decade ago. With tremendous economic and health uncertainty throughout global markets because of the coronavirus pandemic, investors are pouring into the safe-haven asset and propping up the dollar. The consensus on Wall Street is that investors everywhere just […]
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March 202020
Euro Rallies From Multi-Year Lows Then Falls Amid Market Volatility
The euro today rallied higher against the US dollar early in the session as buyers stepped in pushing the pair higher from yesterday’s multi-year lows. The EUR/USD currency pair later lost momentum and headed lower driven by high demand for the US dollar. The EUR/USD currency pair today rallied from an opening low of 1.0655 to a high of 1.0831 in the early European session before heading lower and was near its daily lows at the time fo […]
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