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November 13
2020

Euro Rallies on Upbeat Sentiment and Mixed Euro Area Macro Prints

The euro today rallied against the dollar due to the positive investor sentiment, which saw risk assets rally despite the coronavirus situation in Europe. The EUR/USD currency pair’s rally was also boosted by the upbeat inflation reports from Spain and France despite other disappointing macro reports. The EUR/USD currency pair today rallied from a low of 1.1799 in the Asian session before rallying to a high of 1.1834 in the mid-European market and was near these […]

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November 13
2020

Indian Rupee Rises As Trade, Sliding COVID-19 Cases Support EM Currency

The Indian rupee is attempting to muster up some momentum to finish the trading week amid positive economic data and improving COVID-19 cases. The rupee, which has struggled since the height of the market meltdown earlier this year, has joined the broader weakness in emerging markets. But with renewed risk appetite and a potential vaccine on the way, could the rupee enjoy a better 2021? According to the Ministry of Commerce and Industry, India posted a trade […]

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November 13
2020

The true cost of Christmas and the true benefits of saving

Christmas will probably feel a lot different this year. It remains to be seen whether we will be able to congregate in our usual large groups of family and friends and our festivities may feel a little muted. What will probably still happen, however, is kids will want their toys. Voucher Codes have estimated that […]

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November 13
2020

NZ Dollar Weakest on Waning Optimism, Poor Domestic Data

Commodity currencies were among the weakest on the Forex market today as the optimism caused by the news about a coronavirus vaccine continued to wane. The New Zealand dollar was the biggest loser, falling even against its commodity-linked counterparts. Negative domestic macroeconomic data put additional pressure on the currency. Statistics New Zealand reported that the food price index fell by 0.7% in October after dropping by 1.0% in the previous month. With seasonal adjustments, […]

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November 13
2020

USD/JPY Resuming the Fall from 105.67?

The US dollar versus the Japanese Jen currency pair seems to have lost its steam. Are the bears just around the corner? Long-term perspective The high of 109.85 is the start of a drop that extended until the intermediary level of 103.15. Along this path, the bulls attempted several recoveries, but, as it can be seen from the string of lower highs and lower lows, they all ended as new bearish opportunities. However, […]

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November 12
2020

Yen Gains as Optimism Surrounding Coronavirus Vaccine Wanes

The Japanese yen gained today as optimism about the coronavirus vaccine waned, making safer currencies more appealing to traders. Markets started the week in an optimistic mood due to the news that a major breakthrough in the development of the coronavirus vaccine was made. The optimism made investors less interested in acquiring safe-haven currencies. But the optimism has started to wane as there is still a large degree of uncertainty surrounding the treatment. Seiji Adachi, Member of the Policy […]

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November 12
2020

NZ Dollar Climbs on Reduced Chances for Negative Interest Rates, Retreats Later

The New Zealand dollar jumped yesterday and was trying to extend its rally today but failed to do so and has retreated by now. The reason for the jump was easy to pinpoint — the less certain outlook for negative interest rates from New Zealand’s central bank. The reason for the retreat is harder to identify but the most likely factor is the rally of the US dollar. The Reserve Bank of New Zealand made a monetary policy announcement […]

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November 12
2020

Euro Rallies Against Dollar on Upbeat German Inflation, Positive Mood

The euro today rallied against the dollar boosted by the positive investor sentiment despite the rising coronavirus cases and lockdown measures in Europe. The EUR/USD currency pair’s rally as also fueled by the positive releases from across the euro area including Germany’s inflation data among others. The EUR/USD currency pair today rallied from a low of 1.1758 in the late Asian session to a high of 1.1823 in the mid-Frankfurt session before proceeding to trade sideways up to the time […]

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November 12
2020

US Dollar Gains As Jobless Claims Hit Fresh Pandemic Low, Inflation Beats Estimates

The US dollar is looking to maintain its momentum toward the end of the trading week, buoyed mostly by economic data rather than the broader market trends. The greenback is searching for support from lower-than-expected inflation and initial jobless claims falling to a fresh pandemic low. Could the buck travel on an upward trajectory to close out 2020? According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came in at 709,000 in the week ending […]

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November 12
2020

Bulls Fail to Conquer 1.7285 on GBP/CAD?

The Great Britain pound versus the Canadian dollar currency pair seems to be having trouble climbing. Long-term perspective After the high of 1.7674 was proved to be part of a false piercing of the 1.7567 resistance area, the price fell until the 1.7285 level. From there, the bulls attempted a comeback, but their efforts were confined to the 1.7567 level. As a result, the price dropped abruptly, crafting the low of 1.6810. The low aided the bulls, as they […]

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