The Canadian dollar today spiked higher against the US dollar after the Federal Reserve announced massive quantitative easing measures causing the greenback to fall. The USD/CAD currency pair fell briefly before recouping its losses and heading higher as the dollar recovered and the Loonie was weighed down by weak crude oil prices. The USD/CAD currency … “Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike”
Month: March 2020
US Dollar Gains As Federal Reserve Announces Unlimited QE
The US dollar is gaining on a couple of major currency rivals to start the trading week, despite the Federal Reserve announcing a massive expansionary program to rescue financial markets. With volatility still plaguing equities, investors continue to dive into the greenback to shield themselves from the chaos. The buck may spike again as the federal government gets ready to pass a massive stimulus bill. On Monday, the US central bank unveiled that it is … “US Dollar Gains As Federal Reserve Announces Unlimited QE”
Aussie Weak amid Lockdown, QE Bond Buying
The Australian dollar was among the weakest currencies on the Forex market together with its commodity-related counterparts today due to coronavirus panic that makes investors seek safer options. While it has trimmed its losses by now, the Aussie is still trading below the opening level against the majority of most-traded currencies. The Australian government announced lockdown to limit the spread of COVID-19, shutting down non-essential services. That includes pubs, … “Aussie Weak amid Lockdown, QE Bond Buying”
NZ Dollar Drops After RBNZ Announces QE Program
The New Zealand dollar dropped today after the Reserve Bank of New Zealand made a surprise announcement of a quantitative easing program. Currently, the kiwi has trimmed its losses but is still trading below the opening level against its most-traded counterparts, with the exception of the Australian dollar. The Aussie was dragged down by bond purchases under the quantitative easing program of its own central bank. The RBNZ made a surprise announcement … “NZ Dollar Drops After RBNZ Announces QE Program”
Is 0.5511 a Bearish Barrier on AUD/USD?
The Australian dollar versus the US dollar currency pair dropped until the 0.5511 level. The bulls may have some reasons to keep a close eye. Long-term perspective The fall that commenced after 0.6700 was confirmed as resistance continued and went as low as 0.5511. After touching the level, it retraced strongly, almost reaching the 0.6015 level. It can be considered that the price is now in the middle of a possible range, limited … “Is 0.5511 a Bearish Barrier on AUD/USD?”
US Dollar Weakens, Still Poised for Best Week Since Financial Crisis
The US dollar is weakening against a couple of major currency rivals at the end of the trading week, but the greenback is still on track for its best week since the financial crisis more than a decade ago. With tremendous economic and health uncertainty throughout global markets because of the coronavirus pandemic, investors are pouring into the safe-haven asset and propping up the dollar. The consensus on Wall Street is that investors everywhere just … “US Dollar Weakens, Still Poised for Best Week Since Financial Crisis”
Euro Rallies From Multi-Year Lows Then Falls Amid Market Volatility
The euro today rallied higher against the US dollar early in the session as buyers stepped in pushing the pair higher from yesterday’s multi-year lows. The EUR/USD currency pair later lost momentum and headed lower driven by high demand for the US dollar. The EUR/USD currency pair today rallied from an opening low of 1.0655 … “Euro Rallies From Multi-Year Lows Then Falls Amid Market Volatility”
USD/JPY Back into Ascending Channel and Above 108.00
The US dollar versus the Japanese yen currency pair recovered almost the entire depreciation. Will the appreciation continue? Long-term perspective The ascending trend that started after the price confirmed the 105.55 support level — and that printed the low at 104.44 — ended after the support line of the channel that limited it got pieced. The fall was able to reach the level of 101.18, from where a rally commenced, one that recovered almost the entire … “USD/JPY Back into Ascending Channel and Above 108.00”
Pound Remains Under Pressure Despite Bank of England Rate Cut
The Sterling pound today had a muted reaction to an emergency rate cut by the Bank of England after the close of the London markets. The GBP/USD spiked higher briefly before heading lower as the greenback posted gains due to high demand. The GBP/USD currency pair today fell to a low of 1.1471 before rallying … “Pound Remains Under Pressure Despite Bank of England Rate Cut”
US Dollar Weakens As Weekly Jobless Claims Surge Amid COVID-19 Market Rout
The US dollar is weakening against a few currencies on Thursday as new labor data confirms that the Covid-19 pandemic is beginning to have a negative effect on the strong labor market. But the decline was capped by the Federal Reserve announcing temporary dollar swap lines with nine central banks for several months. Despite the dramatic impact the coronavirus has had on the worldâs largest economy, the US dollar has been the lone bright … “US Dollar Weakens As Weekly Jobless Claims Surge Amid COVID-19 Market Rout”