No picture – The Plot

December 8
2020

Euro Trades Sideways Against Dollar on Mixed Euro Area Releases

The euro today traded sideways against the dollar amid multiple rally attempts that were followed by pullbacks as the bulls and bears fought for control. The EUR/USD ended up trading flat driven by the mixed investor sentiment as both the dollar and euro tried to rally unsuccessfully. The EUR/USD currency pair today traded between a high of 1.2133 and a low of 1.2096 and was within this range at the time of writing. The currency pair’s performance today was driven […]

December 7
2020

Pound Crashes As Brexit Talks Turn Sour Amid EU/UK Hardline Positions

The Sterling pound today crashed against the dollar amid a deluge of negative Brexit headlines as both the EU and UK reiterated hardline positions. The GBP/USD currency pair’s plunge today was driven by reports of new problems in the Brexit talks jeopardizing the likelihood of a deal before December 31. The GBP/USD currency pair today crashed from a high of 1.3437 in the Asian market to a low of 1.3225 but had recouped almost half of its losses at the time […]

December 4
2020

Canadian Dollar Rallies Against US Peer on Upbeat Jobs Report, Crude Prices

The Canadian dollar today rallied against its US peer after the release of employment reports from both countries with Canada’s beating analysts expectations. The USD/CAD currency pair fell to multi-year lows last seen in October 2018 as the loonie rallied against the weak greenback during the American session. The USD/CAD currency pair today fell from a high of 1.2873 in the Asian session to a low of 1.2804 during the American market and was trading […]

December 4
2020

Euro Rallies Against Weak Dollar for the Fourth Consecutive Day

The euro today rallied to new highs against the US dollar for the fourth consecutive session boosted by investor optimism about the global economic recovery. The EUR/USD currency pair also benefitted from the greenback’s overall weakness as the global reserve currency lost its safe-haven appeal due to the risk-on market mood. The EUR/USD currency pair surged from a low of 1.2138 during the Asian market to a high of 1.2176 in the mid-European session and was trading near […]

December 3
2020

Pound Rallies to 3-Year Highs Against Dollar on Brexit Deal Optimism

The Sterling pound today rallied to 3-year highs against the US dollar boosted by investor optimism about a potential Brexit deal boosted by Simon Coveney’s comments. The weak dollar also fueled the GBP/USD currency pair’s rally following yesterday’s US ADP employment change report, which missed analysts expectations. The GBP/USD currency pair today rallied from a low of 1.3353 in the Australian market to a high of 1.3454 in the early American session and was […]

November 27
2020

Euro Rallies to 3-Month Highs on Upbeat Euro Area Data Releases

The euro today rallied to new highs last seen on September 1st against the weak dollar boosted by upbeat macro reports from the euro area. The EUR/USD currency pair today rallied higher boosted by the upbeat French GDP report and other positive data from other EU countries. The EUR/USD currency pair today rallied from a low of 1.1909 in the Australian market to a high of 1.1961 in the early American session and was trading near […]

November 26
2020

Euro Plunges on Weak German GfK Survey and Dovish ECB Minutes

The euro today fell against the dollar following the release of the weak Germany GfK survey early in the European session combined with the risk-off market sentiment. The EUR/USD currency pair today fell even though US markets were closed for the Thanksgiving Day celebrations as investors bought the safe-haven greenback. The EUR/USD currency pair today rallied to a high of 1.1940 in the early Frankfurt session before falling to a low of 1.1885 in the early American market then […]

November 24
2020

Euro Rallies on Upbeat German GDP and IFO Business Climate Data

The euro today surged against the dollar boosted by the upbeat German Q3 GDP report released early in the European session and positive investor sentiment. The EUR/USD currency pair later fell as the dollar recovered and printed new daily highs before recouping most of its losses during the American session. The EUR/USD currency pair today rallied from an initial low of 1.1838 in the Asian market to a high of 1.1894 in the early Frankfurt session before falling […]

November 23
2020

Pound Rallies to 12-Week Highs on AstraZeneca Vaccine, UK PMIs

The sterling pound today surged to 12-week highs against the dollar boosted by news of AstraZeneca’s COVID-19 vaccine given that its a British/Swedish company. The GBP/USD currency pair later trimmed its gains after the dollar surged to new multi-month highs on upbeat US Flash PMIs released by Markit Economics. The GBP/USD currency pair today rallied to a high of 1.3397 in the mid-London session before falling to a low of 1.3264 in the American market but had […]

November 20
2020

Canadian Dollar Rallies on Surging Oil Prices and Retail Sales Data

The Canadian dollar today rallied against its US peer boosted by the global crude oil prices kept rising and were on track to close higher for the week. The USD/CAD currency pair fell for the third consecutive session as the loonie rallied following the release of upbeat Canadian retail sales data for September. The USD/CAD currency pair today fell from a high of 1.3087 in the early Australian session to a low of 1.3043 in the American market and was headed lower […]