The Sterling pound today attempted to rally against the US dollar, but the rally was shortlived as the greenback reversed course and drove the pound lower. The GBP/USD currency pair today rallied to its daily highs before heading lower as investor appetite for the pound waned amid a rejuvenated dollar. The GBP/USD currency pair today … “Pound Crashes Against US Dollar on Upbeat US PMI Data”
Month: February 2020
Scandinavian Capital Markets launches new Foreign Exchange trading service for Institutional Traders
Scandinavian Capital Markets, based in Stockholm, is announcing launching a new service aimed at institutional traders, in collaboration with Currenex. Here are all the details: Scandinavian Capital Markets’ new service powered by the award-winning Currenex platform STOCKHOLM, February 5, 2020 – Scandinavian Capital Markets announced today it has entered into a new partnership with Currenex … “Scandinavian Capital Markets launches new Foreign Exchange trading service for Institutional Traders”
Top five assets to run to in coronavirus times
The coronavirus outbreak has triggered demand for safe-haven assets. A similar pattern has been seen with the Iran crisis and may reoccur throughout 2020. Five financial assets stand out in these times of trouble. Whether it originates in Wuhan or Iran, financial markets always have something to worry about – but the demand for safe-haven … “Top five assets to run to in coronavirus times”
GBP/AUD Could Head for 1.9053 After Bearish Engulfing
The Great Britain pound versus the Australian dollar currency pair seems to lack the power to drive prices higher. Is this actually true or are the bulls just waiting for the right moment? Long-term perspective The ascending movement that started after 1.7634 was confirmed as support managed to conquer every level with relative ease and, thus, was able to extend until the high of 1.9752. Even if the bulls seem to be … “GBP/AUD Could Head for 1.9053 After Bearish Engulfing”
Euro Falls Against Strong Dollar as Coronavirus Fears Persist
The euro today fell against the much stronger US dollar, which was boosted by the upbeat data released on Monday. The EUR/USD currency pair kept falling despite the release of upbeat data from across the euro area as the coronavirus human and economic toll mounted. The EUR/USD currency pair today fell from a high of … “Euro Falls Against Strong Dollar as Coronavirus Fears Persist”
Japanese Yen Slips As BoJ Dismisses Further Easing Amid Coronavirus
The Japanese yen is falling against several major currency competitors on Tuesday as the central bank dismissed recommendations for further monetary easing amid the Wuhan coronavirus outbreak. After the Peopleâs Bank of China (PBoC) employed 30 stimulus measures, some analysts had expected the Bank of Japan (BoJ) to follow suit since its economy is anticipated to slump from the virus. New manufacturing data also hurt the yen. Speaking in front … “Japanese Yen Slips As BoJ Dismisses Further Easing Amid Coronavirus”
Great Britain Pound Recovers After Falling on Brexit Fears
The Great Britain pound recovered a bit today following yesterday’s slump caused by returning Brexit fears. The rebound was nowhere near enough to eliminate the Monday’s losses, though. Macroeconomic data showed a small improvement in Britain’s economy. The sterling slumped at the start of the trading week after Britain and the European Union exchanged comments demonstrating a hardline stance in trade deal negotiations. UK Prime Minister Boris Johnson said that there is … “Great Britain Pound Recovers After Falling on Brexit Fears”
Australian Dollar Trades Higher After RBA Stands Pat
The Australian dollar rose against all other most-traded currencies today after the Reserve Bank of Australia refrained from cutting interest rates and did not signal about a cut in the immediate future. The RBA kept its main interest rate unchanged at 0.75%. Such a decision was widely expected by market participants. The accompanying statement made optimistic remarks about the global economy: The outlook for the global economy remains reasonable. There have … “Australian Dollar Trades Higher After RBA Stands Pat”
NZD/CAD Continues Towards 0.8514
The New Zealand dollar versus the Canadian dollar currency made its first step towards what may very well be the first target, 0.8540 respectively. Long-term perspective The ascending movement that began after printing the low of 0.8236 tried to reconquer the old weekly support of 0.8692. But the bulls did not succeed in this endeavor, as the only thing they were able to do was to etch the high of 0.8799, which … “NZD/CAD Continues Towards 0.8514”
Chinese Yuan Crashes As Coronavirus Intensifies, Markets Crater
The Chinese yuan is crashing to kick off the trading week, cratering against all major currency rivals. The yuan is taking a beating after the leading stock indexes plunged due to the Wuhan coronavirus intensifying in China. The death toll reached 361 and the total number of people infected with the virus surged to 17,328. Will the worldâs second-largest economy be able to recover? The authorities are responding to the outbreak with monetary and fiscal tools. … “Chinese Yuan Crashes As Coronavirus Intensifies, Markets Crater”