The Canadian dollar today lost ground against its southern neighbour driven by the upbeat US nonfarm payrolls report for July released in the American session. The USD/CAD traded higher boosted by the risk-off investor sentiment in the face of rising US-China tensions but gave up some of its initial gains as the loonie clawed higher. … “Canadian Dollar Weakens Against US Dollar on Upbeat NFP Data”
Month: August 2020
US Dollar Gains As Economy Reclaims 1.8 Million Jobs
The US dollar is strengthening against some of its most traded currency competitors to close out the trading week after the US government reported a better-than-expected jobs report. The economy continues to show signs that it is rebounding on the other side of the COVID-19 lockdown. But the labor market is still short 13 million positions that were lost amid the pandemic. According to the Bureau of Labor Statistics (BLS), the US economy … “US Dollar Gains As Economy Reclaims 1.8 Million Jobs”
Euro Falls Against US Dollar Despite Upbeat Euro Area Macro Reports
The euro today fell against the US dollar as investors sold the single currency amid a risk-off market environment as Sino-US tensions skyrocketed on rhetoric from both countries. The EUR/USD currency pair fell despite the release of mostly positive data from across the euro area as investors flocked to the safe-haven greenback. The EUR/USD currency … “Euro Falls Against US Dollar Despite Upbeat Euro Area Macro Reports”
Australian Dollar Soft amid Sino-US Tensions
The Australian dollar was one of the weakest currencies on the Forex market today, driven down by risk aversion caused by increasing geopolitical tensions between the United States and China. Domestic macro releases were decent but that did not provide the currency much help. US President Donald Trump wants to step up the tech war with China by banning TikTok and WeChat, apps owned by Chinese companies. Markets are cautious, … “Australian Dollar Soft amid Sino-US Tensions”
Will the 105.09 Support Hold?
The United States dollar versus the Japanese yen currency pair seems to have lost its steam after a very strong appreciation. Was that all the bulls could do? Long-term perspective The fall from the 109.85 high, which is part of the false piercing of the firm 109.00 resistance level, managed to extend until the 106.12 intermediary level. The latter served as support, propelling the price back above 107.00, another steady level … “Will the 105.09 Support Hold?”
Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar
The euro today traded lower against the US dollar after hitting new 2-year highs last seen in May 2018 earlier in the session to trade almost flat for the session. The EUR/USD currency pair broke above the crucial 1.1900 level but could not stay above the level and fell back as the bears took control of the price action. The EUR/USD currency pair today spiked to a high of 1.1915 before reversing and falling to a low of 1.1818 … “Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar”
British Pound Rises As BoE Leaves Interest Rates, QE Unchanged
The British pound is rising against many of its currency rivals on Thursday after the central bank left interest rates and its aggressive asset-buying program unchanged. But while the decision to hold things steady was widely expected, many analysts are combing through the Bank of England (BoE) headâs remarks that subzero interest rates are in the institutionâs âtoolbox.â During the August policy meeting on Thursday, the BoE voted unanimously … “British Pound Rises As BoE Leaves Interest Rates, QE Unchanged”
US Dollar Flat As Initial Jobless Claims Fall to Lowest Level of Pandemic
The US dollar is trading relatively flat against its G10 currency counterparts after the US government reported that initial jobless claims declined to their lowest levels of the COVID-19 pandemic. The greenback has been trading quietly ahead of the July jobs report on Friday. The broader financial market, except the precious metals, was also subdued toward the end of the trading week. According to the Department of Labor, the number of Americans filing for first-time … “US Dollar Flat As Initial Jobless Claims Fall to Lowest Level of Pandemic”
BOE Analysis: Three pound-positive on Super Thursday open door to new highs
The Bank of England has left its policy unchanged, without dissent toward negative rates. Growth forecasts have been substantially upgraded. Officials are content with positive high-frequency figures. Non-event? GBP/USD has hit the highest since March, showing that the Bank of England’s decision is included powerful punches, propelling the pound. Here are three factors that are … “BOE Analysis: Three pound-positive on Super Thursday open door to new highs”
Bulls on GBP/CAD Stopped by the Same 1.7565 Resistance Level?
The Great Britain pound versus the Canadian dollar currency pair dropped after a new attempt to conquer 1.7567 seems to have failed. Long-term perspective The rally from the 1.6542 low, after the 1.6724 level was confirmed as support back in March 2020, managed to extend until the 1.7567 resistance level. But out of the three attempts to overcome the level, none succeeded, as the bulls were only able to stretch the price until the 1.7705 intermediary … “Bulls on GBP/CAD Stopped by the Same 1.7565 Resistance Level?”