GBP/USD has attempted a rise as amid the PM’s discharge and worrying forecasts. Hard data for March and PMIs for April will likely set the tone. Mid-April’s daily chart is painting a mixed picture. The FX Poll is showing a bearish trend. Pound/dollar has hit the highest in a month amid Prime Minister Boris Johnson’s discharge … “GBP/USD End of the Boris bounce? Scary scenarios and hard data eyed”
Month: April 2020
EUR/USD: Stubborn COVID figures, lack of coronabonds, depressing data all point down
EUR/USD has been on the back foot as the market mood soured around coronavirus. COVID-19 statistics, potential easing of lockdowns, and PMIs are among the market-moving events. Mid-April’s daily chart is showing a narrowing triangle. The FX Poll is showing a bearish trend in the short and medium terms and a rise later on. Is … “EUR/USD: Stubborn COVID figures, lack of coronabonds, depressing data all point down”
Scandinavian Capital Markets launches Scand.Ex – Traders Portal for Professional Traders
Scand.Ex (Scandinavian Exchange) – interactive portal empowered by Scandinavian Capital Markets and made by professional traders for traders. It is a place for traders to exchange quality news, valuable knowledge and real experience. Empowered by trusted professionals. STOCKHOLM, April 20, 2020 Monday Scandinavian Capital Markets marked the launch of its flagship Trader’s Portal, Scand.Ex – … “Scandinavian Capital Markets launches Scand.Ex – Traders Portal for Professional Traders”
Australian Dollar Trades Lower After RBA Minutes, Drop of Crude Oil Below $0
The Australian dollar fell against almost all of the most-traded currencies today with the exception of the New Zealand dollar. The main reasons for the decline were the negative market sentiment and the dovish outlook for the monetary policy of Australia’s central bank. Markets were rattled by the unprecedented move of prices for North American crude oil below $0. Analysts were quick to point out that the move was in the May contract that expires today, making traders … “Australian Dollar Trades Lower After RBA Minutes, Drop of Crude Oil Below $0”
Bears on AUD/USD May Start Pushing from 0.6313
The Australian dollar versus the US dollar currency pair seems to offer conflicting signals, but how can some light be shed upon the situation? Long-term perspective The advancement that started from the level of 0.5517 extended to as high as 0.6446, almost reaching the major area just beneath the 0.6500 psychological level. After peaking at 0.6446, the price went under the 0.6313 support level only to peak again at 0.6397. The fact that … “Bears on AUD/USD May Start Pushing from 0.6313”
Chinese Yuan Flat As PBoC Slashes Benchmark Loan Rate
The Chinese yuan is barely budging against its G10 currency competitors on Monday, despite the central bank showing its willingness to get serious about monetary easing. Investors may be trying to see if China can successfully hit the reboot button after last weekâs worse-than-expected gross domestic product (GDP) reading for the first quarter. It is evident that Beijing will employ every fiscal and monetary … “Chinese Yuan Flat As PBoC Slashes Benchmark Loan Rate”
Euro Recovers After Mixed Economic Data, Supported by Plans for Easing Lockdown
The euro opened sharply higher today but has erased losses against the majority of its most-traded peers by now. The traders’ cautious mood was weighing on the currency, but hopes about an end to lockdown in the foreseeable future were supporting the euro. Eurozone macroeconomic data released over Monday’s trading session was mixed. Destatis reported that the German Producer Price Index fell by 0.8% in March, both on a monthly and annual basis. Analysts … “Euro Recovers After Mixed Economic Data, Supported by Plans for Easing Lockdown”
Japanese Yen Moves Lower After Exports Collapse
The Japanese yen opened sharply higher against its most-traded rivals today but immediately started to move lower and continued its decline after the release of a poor report on the Japanese trade balance. Japan’s Ministry of Finance reported that the trade balance logged a deficit of ¥0.19 trillion in March after logging a surplus of ¥0.48 trillion in February. Economists were expecting a smaller deficit of ¥0.11 trillion. Exports dropped … “Japanese Yen Moves Lower After Exports Collapse”
NZ Dollar Flat-to-Higher on CPI, Easing Lockdown Restrictions
The New Zealand dollar traded flat or higher against its most-traded counterparts today. There were two reasons for the currency’s good performance: the government’s plans to ease the lockdown restrictions and positive inflation data released today. New Zealand Prime Minister Jacinda Ardern announced that the government will reduce the threat level one notch to three next week, allowing some businesses to open. That should benefit the nation’s economy … “NZ Dollar Flat-to-Higher on CPI, Easing Lockdown Restrictions”
Euro Rallies on Reports of COVID-19 Cure and In-Line Eurozone CPI
The euro today rallied higher against the US dollar driven by bullish investor sentiment amid hopes that a cure for the coronavirus was on the horizon. The EUR/USD currency pair initially fell as the greenback rallied before changing course and surging higher as risk-appetite improved. The EUR/USD currency pair today fell to a low of … “Euro Rallies on Reports of COVID-19 Cure and In-Line Eurozone CPI”