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December 9
2020

Brazilian Real Weakens Against US Peer on Higher Inflation

The Brazilian real weakened against multiple currency rivals in the middle of the trading week, driven mostly by higher-than-expected inflation last month. Investors are also keeping an eye on monetary policy as the central bank is anticipated to leave interest rates at historic lows. Despite being one of the worst-performing currencies in foreign exchange markets, the real has rebounded more than 4% against the US dollar over the last month. In November, the consumer price […]

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December 9
2020

Japan Announces Economic Stimulus on Tuesday, Yen Weak

The Japanese yen was one of the weakest currencies today due to markets being in a risk-on mode, meaning that there was limited demand for safer currencies. The yen fell against almost all of its rivals, though managed to stay flat against the US dollar. Additionally, EUR/JPY has retreated to trade close to the opening level at the time of writing after rallying earlier. Yesterday, Japanese Prime Minister Yoshihide Suga announced a fresh […]

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December 9
2020

Australian Dollar Strongest as Markets Favor Riskier Currencies

The Australian dollar was the strongest currency on the Forex market today as the sentiment was favoring riskier currencies. Domestic macroeconomic data was supportive of Australia’s currency. The Westpac-Melbourne Institute Index of Consumer Sentiment rose by 4.1% in December from November. The index edged up by 2.5% in the previous month. The report commented on the positive result: The surge in the Index continues. It is now 48% above the low in April and has reached its highest level […]

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December 9
2020

How to Reduce Wasting Money on Business Overheads During Pandemic?

With the uncertainty growing during the outbreak of coronavirus, businesses worldwide are facing severe issues. The work from home is becoming a survival tactic for companies. This has also led to a rise in business expenses, production costs, leading to less revenue for small and large organizations. If your business is also suffering from such […]

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December 9
2020

NZ Dollar Firm on Risk Appetite & Positive Domestic Data

The New Zealand dollar was trading in the green today, rising against the majority of most-traded currencies, except for the Australian dollar and the Great Britain pound. The kiwi rallied because the market sentiment seemed to favor riskier currencies. Domestic macroeconomic data was positive, while reports in China, New Zealand’s biggest trading partner, were mixed. Statistics New Zealand reported that manufacturing sales rose by 10.0%, seasonally adjusted, in the September quarter […]

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December 9
2020

Bulls Attempting a Takeover on AUD/NZD from 1.0551

The Australian versus New Zealand dollar currency pair seems to be willing to steer towards the north. Are the bears going to allow this? Long-term perspective From the 1.0566 low, the price entered into an ascending phase, one that would bring the formation of the 1.1043 high. Even if the bulls were determined, they were overpowered by the bears. So, they sent the price beneath the 1.0983 level that the bulls were targeting […]

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December 8
2020

US Dollar Posts Modest Rise on Strong Manufacturing, Construction Data

The US dollar is recording modest gains on Tuesday as investors remain cautious in the broader financial markets. The greenback is mostly finding support on better-than-expected manufacturing and construction data, as well as traders finalizing their year-end positions. In November, the IHS Markit manufacturing purchasing managers’ index (PMI) came in at 56.7, up from 53.4 in October. This is in line with the median estimate. The US manufacturing sector reported gains in output, new […]

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December 8
2020

Bulls Reject from 1.3261 on GBP/USD

The Great Britain pound versus United States dollar currency pair seems, aside from governed by a lot of volatility, steered by the bulls. Long-term perspective The low of 1.2075, a false piercing of the firm support area of 1.2092, gave birth to an ascending trend that, as of writing, extended until the 1.3539 high. The 1.3539 high comes as a bullish victory after they had to retreat following the bearish pressure that, subsequent to the pin bar on September the 1st, […]

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December 7
2020

Chinese Yuan Pauses Rally Amid Escalating Sino-US Tensions

The Chinese yuan retreated from its best level in more than two years to kick off the trading week, driven mostly on escalating Sino-US geopolitical and trade tensions. But the pullback was capped by better-than-expected exports in November, signaling that the world’s second-largest economy is recovering at a healthy pace. The US government is set to slap fresh sanctions on at least one dozen Chinese officials over their roles in disqualifying elected […]

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December 7
2020

AUD/USD at 0.7449 and Closer to 0.7600

The Australian versus United States dollar currency pair seems to be checking every point of the checklist that promises 0.7587. Long-term perspective The appreciation from the 0.6386 support area managed to climb until the 0.7413 high. From there, the price dropped under 0.7320 — which the bulls expected to play the role of support — but failed to get above it once more, leading to the depreciation that sent the price back to the 0.7010 ex-resistance […]

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