Breaking News
November 25
2020

US Dollar Quiet Ahead of Thanksgiving As Investors Assess Data, FOMC Minutes

The US dollar is trading relatively flat against multiple major currency peers, mainly due to the plethora of mixed economic data that were released ahead of the American Thanksgiving holiday. In focus in the middle of the holiday-shortened trading were jobs and personal income and spending. With a subdued greenback on Wednesday, what comes next on the other side of annual festivities and in the home stretch of 2020? According to the Department of Labor, the number of Americans filing for first-time unemployment […]

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November 25
2020

Bears Pausing or Preparing Sharp Resume on AUZ/NZD?

The Australian versus the New Zealand dollar currency pair seems to be under decisive bearish dominance. Can the bulls make their way to 1.0707? Long-term perspective After the 1.0566 low validated the 1.0551 firm support area, the price climbed until the 1.1043 peak, just above the equally durable 1.0903 resistance area. Once there, the bulls had no choice but to retreat, as the bears were set to defend the area. As a result, […]

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November 24
2020

Canadian Dollar Strengthens as US Crude Tops $45, Biden Transition Formally Approved

The Canadian dollar is strengthening against its US peer on Tuesday as crude oil prices rallied to above $45. The loonie has surged by more than 1% this month, making the currency on track to erase its 2020 loss after stabilizing in the second half of the year. With soaring energy prices and a national economy recovering in the aftermath of the coronavirus pandemic, is the Canadian dollar setting itself up as the next top currency in 2021? […]

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November 24
2020

Yen Falls vs. Commodity Currencies, Holds Ground vs. Majors

The Japanese yen fell versus commodity currencies but managed to hold its ground against other most-traded currencies today. Markets remained under the impact of the positive coronavirus vaccine news, which limited demand for safer currencies, including the yen. Markets started the trading week in an optimistic mood due to the news that a COVID-19 vaccine from yet another drug producer is close to completion. Of course, it will take time […]

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November 24
2020

Australian Dollar Joins Rally in Risk-On Environment

The Australian dollar joined the rally of its New Zealand counterpart amid the risk-on market sentiment. There were no macroeconomic reports released in Australia today, while yesterday’s data was positive. Yesterday, a report from Markit showed that both manufacturing and services sectors accelerated their growth. The Flash Manufacturing Purchasing Managers’ Index climbed from 54.2 in October to 56.1 in November. The Flash Services PMI rose from 53.7 […]

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November 24
2020

NZ Dollar Strongest After Letter from Finance Minister to RBNZ

The New Zealand dollar was the strongest among the most-traded currencies on the Forex market today. The most likely reason for such a great performance was the request made to the central bank’s chief by the finance minister. New Zealand Finance Minister Grant Robertson wrote to Adrian Orr, Governor of the Reserve Bank of New Zealand, suggesting that the central bank should include house prices in its mandate: One proposal I am seeking advice from […]

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November 24
2020

Bulls Still Untouched on GBP/USD After 1.3398 High?

The Great Britain pound versus the US dollar currency pair may fall in bearish hands. But will the bulls allow this? Long-term perspective After the low of 1.2075 validated the firm support of 1.2092, the price started an ascending trend that extended nearby the 1.3502 intermediary level. However, as the 1.3502 high was well above a triple resistance area — defined by the descending trendline, the upper line of the rising channel, and the 1.3261 level — validating […]

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November 23
2020

Euro Rallies on Coronavirus Vaccine News, Later Falls on Upbeat US PMI

The euro today rallied higher against the US dollar in the first half of today’s session boosted by investor optimism about a potential coronavirus vaccine. The EUR/USD currency pair later reversed course during the American session and turned negative for the day on the upbeat US PMI data, which boosted the dollar. The EUR/USD currency pair today rallied to a high of 1.1905 in the mid-European session before reversing course and falling to a low of 1.1800 during the American market. […]

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November 23
2020

US Dollar Extends Weakness on Optimism Over Oxford-AstraZeneca COVID-19 Vaccine

The US dollar is extending its weakness to start the trading week, driven mostly by optimism in the broader financial market amid the latest coronavirus vaccine from Oxford-AstraZeneca. This comes soon after Pfizer and Moderna announced their own two-dose inoculations in preventing COVID-19. With economic data being mostly quiet on Monday, traders will be looking for the latest hints regarding US fiscal stimulus and relief packages. AstraZeneca, the British […]

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November 23
2020

Bulls in Shape for 0.7587 on AUD/USD?

The Australian versus the US dollar currency pair seems to be under bullish dominance. Are the bears going to do something? Long-term perspective After validating the 0.6386 level as support, the price continued to climb, eventually reaching the 0.7413 high. From there, it slipped under 0.7320 but was rejected by the next support area, 0.7191. However, the new impulsive swing proved to be a throwback, one that validated 0.7320 as resistance […]

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