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News
November 202020
Forex Day Trading with Keltner Channels
Trading with Keltner channels seems to be useful because it is considered one of the most powerful and common technical indicators for day traders in Hong Kong. This channel will use the average price of a currency and market volatility to draw an upper, middle, and lower line. All these lines will move along with […]
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November 202020
Bulls Might Be Set for 103.15 on USD/JPY
The US dollar versus the Japanese yen currency pair seems to be under a lot of bearish pressure. Do the bears hold any chance until 103.15? Long-term perspective From the high of 109.85, the fall extended — in a fist instance — until the 106.07 low. From there, it rallied to the 108.16 high, which would become the resistance trendline of the descending trend. From 108.16 onwards, the price oscillated under the trendline, extending a hair away […]
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November 202020
US Dollar Subdued As Mnuchin Allows Fed Emergency Lending Programs to Expire
Is the US dollar in store for a rally in the coming days amid a potential selloff in the broader financial markets? With news that several of the US central bank’s emergency lending programs will be allowed to expire at the end of the year, equities could come under pressure, which would possibly benefit the traditional safe-haven asset. The Treasury Department announced on Thursday night that it would let several of the Federal Reserve‘s emergency lending […]
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November 192020
Turkish Lira Rallies As Central Bank Sends Message to Markets With Sharp Rate Hike
The Turkish lira is enjoying one of its best rallies in 2020 as the central bank raised interest rates and sent a message to financial markets that reforms were on the way. Soon after President Recep Tayyip Erdogan cleaned house in his ministry and at the central bank, investors have been placing their bets that Turkey will adopt orthodox fiscal and monetary policies. So far, so good. On Thursday, Turkey’s central […]
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November 192020
Euro Falls Against Dollar on Risk-Off Mood, Rallies on US Jobless Claims
The euro today fell against the resurgent dollar for the second consecutive day as the impasse regarding the EU’s budget weighs down the single currency. The EUR/USD currency pair was also affected by the risk-off market sentiment as investors bought the safe-haven dollar as the second wave of coronavirus infections intensifies. The EUR/USD currency pair today fell from a high of 1.1852 in the early Frankfurt session to a low of 1.1816 in the middle of the session before recouping most of its losses […]
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November 192020
USD/IDR Rises After Surprise Interest Rate Cut from Bank Indonesia
The Indonesian rupiah fell against the US dollar today after Indonesia’s central bank performed a surprise interest rate cut. Despite the decision, the bank had an optimistic outlook for the nation’s economy. The Bank Indonesia cut its interest rates by 25 basis points. Now, the 7-day Reverse Repo Rate stands at 3.75%, the Deposit Facility rate at 3.00%, and the Lending Facility rate at 4.50%. The bank explained its decision citing the following reasons: […]
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November 192020
Australian Dollar Flat Despite Amazing Employment Data
The Australian dollar did not move far today as markets were in a consolidation mode after optimism caused by the coronavirus vaccine news started to wane. Even the stellar jobs report failed to boost the Australian currency. The Australian Bureau of Statistics reported that employment surged by 178,800 in October after falling by 45,500 in September. That was a total surprise to experts, who had predicted a drop of 26,700. Both full-time and part-time employment contributed […]
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November 192020
Next Target on GBP/CAD: 1.7445?
The Great Britain pound versus the Canadian dollar currency pair seems to be determined to reach 1.7445. Can the bears change this course? Long-term perspective Following the fall from the 1.7674 high to the 1.7216 low, the price validated 1.7567 as resistance. This triggered a sharp decline, one that reached the 1.6810 low. However, from 1.6810, the bulls began a slow but steady recovery, reconquering each level along their way. […]
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November 182020
Canadian Dollar Strengthens Despite Higher-Than-Expected Inflation
The Canadian dollar is strengthening against its US currency peer on Wednesday, despite price inflation coming in higher than the market forecast. Although the loonie has fallen against the greenback this year, the Canadian dollar has been making gains in recent months, allowing the currency to stabilize after enormous volatility in the first half of 2020. According to Statistics Canada, the consumer price index (CPI) rose 0.4% in October, up from […]
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November 182020
Australian Dollar Holds Steady as Optimism Wanes
The Australian dollar held its ground today despite waning optimism about the coronavirus vaccine. Domestic macroeconomic data released in Australia on Wednesday was not great but not terrible either. The Australian Bureau of Statistics reported that the Wage Price Index rose by 0.1% in the September quarter from the previous three months. Analysts were expecting the same 0.2% rate of growth as in the previous quarter. Year-on-year, the index rose by 1.2%. The six-month […]
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