The Australian versus the US dollar currency pair seems to be making appreciation attempts in vain, as each of them is immediately met by a decisive retracement. Long-term perspective The rally from the 0.5701 low manged to extend until the 0.7275 high. However, as can be seen on the chart, the latter part of the ascending trend is losing steam. This lack of bullish determination is pointed out by the behavior that came after the piercing of the important … “Bears Joining Forces on AUD/USD from 0.7275 High?”
Month: August 2020
USD/CHF Rises As SNB, Others Wind Down Dollar Liquidity Operations
The Swiss franc is rising to finish the trading week as the Swiss National Bank (SNB) announced that central banks are scaling back their US dollar liquidity operations. As foreign demand diminishes, central banks agreed that currency swap agreements were no longer necessary. Does this bode well for the greenback, or does it signal a decline ahead for the buck? According to the SNB and other major central banks, the Federal … “USD/CHF Rises As SNB, Others Wind Down Dollar Liquidity Operations”
Sterling Pound Crashes Against the Dollar as Risk Appetite Dissipates
The Sterling pound today crashed against the US dollar as investor sentiment turned decisively bearish favouring the safe-haven greenback, which rallied. The GBP/USD currency pair today fell despite the release of upbeat UK retail sales data earlier in the session as investors fled riskier assets, including equities. The GBP/USD currency pair today fell from a … “Sterling Pound Crashes Against the Dollar as Risk Appetite Dissipates”
USD/JPY Faced with the 107.00 Resistance
The US dollar versus the Japanese yen currency pair seems to be indecisive, but there are some signs that the bears could already be controlling the situation. Long-term perspective The drop from the 109.85 high managed to find temporary support at the 107.00 psychological level. However, the bears were able to resume the fall, driving the price until the 104.18 low. From 104.18, the bulls recovered in a very convincing way, being able … “USD/JPY Faced with the 107.00 Resistance”
Euro Seesaws Against the Dollar on Eurozone and US Macro Data
The euro today seesawed between losses and gains against the US dollar following yesterday’s massive drop after the release of the FOMC meeting minutes. The EUR/USD traded in a wide range today marked by declines and rallies as the single currency remained mainly at the greenback’s mercy after yesterday’s resurgence. The EUR/USD currency pair today … “Euro Seesaws Against the Dollar on Eurozone and US Macro Data”
US Dollar Rises As Weekly Jobless Claims Climb Back Above One Million
The US dollar is recording modest gains on Thursday after the number of Americans filing for first-time unemployment benefits moved back above the one million mark. The greenback is looking to advance for two consecutive sessions as the safe-haven currency has cratered 7% since May. Where is the buck headed, and are jobless claims on an upward trend? According to the Department of Labor, initial jobless claims came in at 1.106 million in the week ending August … “US Dollar Rises As Weekly Jobless Claims Climb Back Above One Million”
GBP/CAD Has Trouble Rising from 1.7285
The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time making new gains. Are the bears that determined? Long-term perspective The rally from the 1.6542 low got stopped in its tracks by the firm 1.7567 resistance level. As a result, the price began a depreciation phase, one that brought it at the 1.6724 support. From the 1.6769 low, the bulls started a rally that looked pretty promising. … “GBP/CAD Has Trouble Rising from 1.7285”
Canadian Dollar Rallies Against US Peer, Falls on FOMC Minutes
The Canadian dollar today rallied slightly against the US dollar after the release of the mixed Canadian inflation data for July before losing its gains later. The USD/CAD currency pair then recouped its losses as the greenback recovered and rallied higher during the American session. The USD/CAD currency pair today fell to a low of … “Canadian Dollar Rallies Against US Peer, Falls on FOMC Minutes”
US Dollar Strengthens As FOMC Warns COVID-19 Will âWeigh Heavilyâ on Economy
The US dollar is finding some support after the Federal Reserve released its minutes from the July policy meeting. The Federal Open Market Committee (FOMC) revealed that the coronavirus pandemic wouldâweigh heavilyâ on the economy, labor market, and inflation, resulting in the central bank to maintain its stimulus efforts until the country rebounds. According to the US central bank, the Fed reaffirmed its commitment to executing a full range of tools to support the economic … “US Dollar Strengthens As FOMC Warns COVID-19 Will âWeigh Heavilyâ on Economy”
Australian Leading Index Rises, Aussie Joins Other Commodity Currencies in Rally
The Australian dollar was one of the strongest currencies on the Forex market today, second only to the New Zealand dollar. The Aussie joined other commodity currencies in a rally, driven mainly by the positive general market sentiment, though decent domestic macroeconomic data and good news from the Victoria state were also helping. The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index, which shows the likely pace of economic activity relative … “Australian Leading Index Rises, Aussie Joins Other Commodity Currencies in Rally”