The Japanese yen was the weakest currency on the Forex market today but among the strongest for the week. With no unifying theme to drive markets, it is hard to pinpoint an exact reason for the currency’s poor performance, though some market analysts attributed it to the positive market sentiment that made the yen unnecessary in its role of a safe haven. As for Japan’s macroeconomic reports, they were not that bad but it hardly … “Japanese Yen Weak on Friday, Strong Over Week”
Month: September 2020
NZ Dollar Strong Despite Drop of Manufacturing Index
The New Zealand dollar was among the strongest currencies on the Forex market today, together with its Australian counterpart. The kiwi managed to rally despite the report that showed a drop in New Zealand’s manufacturing index. The BusinessNZ Performance of Manufacturing Index dropped from 59.0 in July to 50.7 in August, seasonally adjusted. BusinessNZ’s executive director for manufacturing Catherine Beard explained that the lockdown in Auckland was the main reason for the sharp decline: After … “NZ Dollar Strong Despite Drop of Manufacturing Index”
USD/JPY Points to 107.00?
The United States dollar versus the Japanese yen currency pair seems not to be that willing to go south. But are the bulls able to pull it off? Long-term perspective The firm drop from the 109.85 high appears to have bottomed at the 105.09 support, after printing the low of 104.18. In other words, the depreciation is now limited by the 107.00 — as resistance — and 105.09, respectively. Since the price is now in this range, there … “USD/JPY Points to 107.00?”
Euro Rallies on ECB Rate Decision and High US Jobless Claims
The euro today held on to its gains after the European Central Bank announced its interest rate decision, which was in line with analysts expectations. The EUR/USD currency pair extended its bullish trend during the ECB Governor’s speech, which was relatively hawkish. The EUR/USD currency pair today rallied from an initial low of 1.1800 during the Australian session to a high … “Euro Rallies on ECB Rate Decision and High US Jobless Claims”
Euro Rallies on ECB Rate Decision and Rising US Jobless Claims
The euro today held on to its gains after the European Central Bank announced its interest rate decision, which was in line with analysts expectations. The EUR/USD currency pair extended its bullish trend during the ECB Governor’s speech, which was quite hawkish. The EUR/USD currency pair today rallied from an initial low of 1.1800 during the Australian session to a high of 1.1893 during Lagarde’s speech but was lightly … “Euro Rallies on ECB Rate Decision and Rising US Jobless Claims”
US Dollar Slumps As Initial Jobless Claims Flat, Producer Prices Fall
The US dollar is slumping against many of its G10 currency rivals on Thursday after the latest jobs data was flat, and producer prices declined. The greenback had been staging a comeback for more than a week, but the buck looks to be going through a modest correction toward the end of the holiday-shortened trading week. According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came in at 884,000 for the week ending September … “US Dollar Slumps As Initial Jobless Claims Flat, Producer Prices Fall”
ECB Analysis: Lagarde unleashes euro rally, virus and more QE may push it lower
ECB President Lagarde sent the euro higher by saying it doesn’t target the exchange rate. The upgrade to GDP forecasts is already based on the euro’s value. Rally may be limited as the bank sees the pandemic as a significant downside risk. “We do not target the FX rate” – Christine Lagarde, President of the … “ECB Analysis: Lagarde unleashes euro rally, virus and more QE may push it lower”
easyMarkets is Now the Official Online Trading Partner of Real Madrid CF
The online trading brand easyMarkets reached a milestone recently when it became the Official Online Trading Partner of the Spanish football club Real Madrid. With a history of more than 19 years, easyMarkets is an online broker regulated by CySEC and ASIC, providing access to a wide range of trading services across multiple markets. “Organization … “easyMarkets is Now the Official Online Trading Partner of Real Madrid CF”
GBP/CAD Switched Target to 1.6724?
The Great Britain pound versus the Canadian dollar currency pair seems to have been taken over by the bears. Do the bulls have any chances left? Long-term perspective The appreciation that started from the double bottom market by the 1.6750 and 1.6769 lows, respectively, managed to climb until the 1.7674 peak. In the process, the firm 1.7567 resistance level has been pierced, but as the price retraced soon afterward, the piercing was rendered as a false … “GBP/CAD Switched Target to 1.6724?”
Canadian Dollar Firm After BoC Policy Meeting
The Canadian dollar was firm today, though fell against other commodity currencies. The loonie rallied even after the Bank of Canada signaled that it plans to keep monetary policy accommodative for a long time. Domestic housing data was favorable but hardly had any impact on the Canadian currency. The BoC held a monetary policy meeting on Wednesday. Surprising no one, the central bank kept its key interest rate … “Canadian Dollar Firm After BoC Policy Meeting”