The euro today rallied higher against the US dollar after the US Federal Reserve announced a $2.3 trillion stimulus package to aid small businesses. The EUR/USD currency pair hit a new weekly high boosted by the risk-on market mood as global equities rallied higher. The EUR/USD currency pair today rallied from a low of 1.0841 in the late Asian session to a high of 1.0951 in the American session and was trading near these highs at the time … “Euro Surges After Fed Announces New $2.3 Billion Stimulus Package”
Month: April 2020
Canadian Dollar Mixed As COVID-19 Kills One Million Jobs in March
The Canadian dollar is mixed on Friday as the federal government released the worst jobs report in the nationâs history. Due to the coronavirus pandemic shutting down the country from coast to coast, the economy shed more than one million jobs, significantly raising the unemployment rate in March. And this is just the beginning, experts warn. According to Statistics Canada, the economy lost 1.011 million jobs last month, higher than the market forecast of 350,000. … “Canadian Dollar Mixed As COVID-19 Kills One Million Jobs in March”
US Dollar Gains As Jobless Claims Top 6 Million, Fed Unveils Main Street Stimulus
The US dollar is gaining against its key currency rivals at the end of the holiday-shortened trading week. The greenback is rising, despite the federal government reporting more than six million jobless claims that were more than what analysts had anticipated. The buck is also climbing on the Federal Reserve announcing a $2.3 trillion stimulus program to support Main Street lending. According to the Department of Labor, initial jobless claims … “US Dollar Gains As Jobless Claims Top 6 Million, Fed Unveils Main Street Stimulus”
AUD/NZD Facing the Weekly Resistance of 1.0361
The Australian dollar versus the New Zealand dollar currency pair is at the old weekly support of 1.0361. Will the bulls conquer it again? Long-term perspective The descending movement that started after 1.0837 was confirmed as resistance extended to as low as 0.9993, but, after confirming the weekly support of 1.0037, a strong rally began, one that now puts to the test the double resistance made possible by the 1.0361 level and the trendline that starts … “AUD/NZD Facing the Weekly Resistance of 1.0361”
Pound Rallies as PM Johnson Still in ICU; UK COVID-19 Deaths Rise
The Sterling pound today rallied for the third straight session against the US dollar amid hope that Boris Johnson was recovering despite rising COVID-19 deaths in the UK. The GBP/USD currency pair posted gains as investors reacted calmly to rising coronavirus deaths in the UK and the risk posed by the pandemic to the British … “Pound Rallies as PM Johnson Still in ICU; UK COVID-19 Deaths Rise”
Chinese Yuan Weakens As Officials Weigh Additional Fiscal, Monetary Stimulus
The Chinese yuan is weakening midweek as a new report suggests officials are considering additional fiscal and monetary stimulus to rejuvenate the post-coronavirus economy. As the country gradually returns to normal and even ends the lockdown in Wuhan, authorities are discussing a wide range of options. Over fears of a second wave, China could serve as a case study for the rest of the world in what to do after COVID-19. According to Reuters, the Peopleâs Bank of China (PBoC) is anticipated … “Chinese Yuan Weakens As Officials Weigh Additional Fiscal, Monetary Stimulus”
AUD/CAD Might Be Ready to Break the Trendline
The Australian dollar versus the Canadian dollar currency pair got very close to an area that may decide the very fate of the pair for the medium-term, if not for the long-term? Long-term perspective The depreciation that started from the peak of 0.9149, after the confirmation of the 0.9093 level las resistance, extended all the way to 0.8062 low. After a sharp retracement, the price started an ascending and very volatile movement. Even if it appears that the high … “AUD/CAD Might Be Ready to Break the Trendline”
Euro Rallies on Hopes That Europe Is Flattening the COVID-19 Curve
The euro today rallied against the US dollar buoyed by the latter’s decline as investors favoured riskier currencies including the single currency. The EUR/USD currency pair hit new 3-day highs ending the downtrend that was in place for the past six sessions. The EUR/USD currency pair today rallied from an opening low of 1.0790 to a high of 1.0925 in the American session but had pulled … “Euro Rallies on Hopes That Europe Is Flattening the COVID-19 Curve”
Pound Rallies Despite Record COVID-19 Deaths and Johnson in ICU
The Sterling pound today rallied higher against the US dollar despite the fact that the UK Prime Minister Boris Johnson being hospitalised in ICU. The GBP/USD currency pair posted gains as buyers stepped in capitalising on the greenback’s fall from recent highs. The GBP/USD currency pair today rallied from an opening low of 1.2217 in … “Pound Rallies Despite Record COVID-19 Deaths and Johnson in ICU”
Swiss Franc Slips As SNBâs Total Sight Deposits Surge Again
The Swiss franc is sliding against the US dollar and the euro on Tuesday as the central bankâs sight deposit holdings surged by their second-highest level in 12 months. For more than a year, Switzerland has been actively trying to depreciate the francâs value as investors continue to pour into the traditional safe-haven asset, even as financial markets rebound. The Swiss franc has significantly appreciated throughout the turbulence, affecting the manufacturing sector and overall exporting industry. … “Swiss Franc Slips As SNBâs Total Sight Deposits Surge Again”