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October 82020
Euro Falls Against Strong Dollar Despite Revived Stimulus Talks
The euro today fell against the US dollar driven by the risk-off market mood, which saw riskier assets selloff in favour of safe-haven assets such as the greenback. The EUR/USD currency pair’s decline occurred at a major resistance level as sellers stepped in driving the pair to its daily lows buoyed by the weak German data. The EUR/USD currency pair today rallied to a high of 1.1781 in the early Frankfurt session before falling to a low of 1.1733 in the early American […]
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October 62020
Canadian Dollar Falls Against US Peer on Trump Stimulus Tweets
The Canadian dollar today gave up most of its gains against the US dollar as the latter rallied boosted by the risk-off market sentiment as stimulus hopes dissipated. The USD/CAD currency pair rallied higher during the American session as President Donald Trump dashed all hopes of a US stimulus deal ahead of the November 3 elections. The USD/CAD currency pair today rallied from a low of 1.3242 during the Asian market to a high of 1.3316 during […]
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October 22020
Sterling Pound Rallies As Boris Johnson Acts to Save Brexit Talks
The Sterling pound today rallied against the dollar after the British Prime Minister intervened to try and save the Brexit talks, which seem to be falling apart. The GBP/USD today rallied higher despite the lack of macro releases from the UK docket as the positive Brexit developments boosted investor sentiment towards the pound. The GBP/USD currency pair today rallied from a low of 1.2836 in the mid-Asian session to a high of 1.2953 during the London session and was […]
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September 242020
Pound Trades Sideways Against the Dollar, Later Edges Higher
The British pound today traded sideways against the dollar alternating between losses and gains before rallying higher to post gains amid hopes for further UK stimulus measures. The GBP/USD currency pair today rallied to its daily highs after the Chancellor of the Exchequer unveiled measures to directly support British workers. The GBP/USD currency pair today fell to a low of 1.2690 in the late Asian session before rallying to a high of 1.2780 in the mid-London market […]
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September 152020
Sterling Pound Rallies on Upbeat Risk Appetite, Falls on Brexit Fears
The Sterling pound today rallied higher against the US dollar driven by market optimism about progress in the development of a vaccine for the coronavirus. The GBP/USD currency pair’s rally did not last as it headed lower in the mid-London session amid market fears of a hard Brexit and a recovery by the US dollar. The GBP/USD currency pair today rallied from a low of 1.2814 in the Asian session to a high of 1.2926 in the mid-London session before reversing and giving up most […]
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July 12020
Pound Rallies on UK Manufacturing PMI and Positive Sentiment
The British pound today rallied higher against the US dollar extending yesterday’s positive momentum boosted by Boris Johnson‘s promises of more spending to boost the UK economy. The weak dollar also raised the GBP/USD currency pair as investors reacted to news that a potential coronavirus vaccine had shown positive results in early clinical trials. The GBP/USD currency pair today rallied from a low of 1.2360 in the Asian market to a high of 1.2490 during the American […]
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April 302020
Euro Trades Sideways on Mixed Macro Prints and ECB Rate Decision
The euro today alternated between gains and losses against the US dollar amid a raft of releases from across the euro area that kept the pair trading in a wide range. The EUR/USD currency pair reacted differently to the mixed European releases such as Germany’s retail sales data among others as it struggled to find direction. The EUR/USD today traded within a wide range marked by a high of 1.0891 and a low of 1.0851 and was still within […]
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April 172020
Chinese Yuan Mixed As Economy Contracts 6.8% in Q1, Retail Sales Crash
The Chinese yuan is mixed against its currency competitors to finish the trading week as investors weigh Chinaâs near-term economic recovery. With the latest bearish numbers suggesting Beijingâs COVID-19 devastation, analysts are hoping that the worst is over and that the nationâs reboot will lead to better results. According to the National Bureau of Statistics (NBS), the gross domestic product (GDP) plummeted 6.8% in the first quarter, worse than the market […]
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April 152020
Pound Falls Amid Speculation That COVID-19 Deaths Are Much Higher
The Sterling pound today fell against the much stronger US dollar amid fears that the global economy was sliding into a significant recession due to the coronavirus pandemic. The GBP/USD currency pair recouped some of its losses in the American session as the greenback gave up some of its gains, allowing riskier currencies to post gains. The GBP/USD currency pair today fell to a low of 1.2435 having opened the day’s session trading at an initial […]
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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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