The US dollar erased its gains on Tuesday and deepened into negative territory after House Speaker Nancy Pelosi revealed that a coronavirus stimulus and relief package could be done by the dayâs end. This sent stocks and other asset classes rallying as investors were confident that the White House and the Democratic leadership could reach an agreement over a $2 trillion bill. One day after telling President Donald Trump … “US Dollar Erases Gains As Nancy Pelosi Says Stimulus Deal Possible by Dayâs End”
Month: October 2020
GBP/USD Encountering Bearish Resistance at 1.3000?
The Great Britain pound versus the United States dollar currency pair seems to limit the bullish efforts. Are the bulls out of steam? Long-term perspective The rally that started from the 1.1476 firm support level extended above 1.2092 but was stopped by 1.2514, leading to a consolidative phase. This phase printed the low of 1.2075 before validating 1.2092 as support and thrusting to the 1.2818 high. The retracement that came about from 1.2818, … “GBP/USD Encountering Bearish Resistance at 1.3000?”
Chinese Yuan Strengthens Against USD on Upbeat GDP, Retail Sales
The Chinese yuan reversed its recent downward trend against the US dollar to kick off the trading week, breaking below 6.7 on positive economic data. The latest figures show that the post-coronavirus recovery is doing well, from growth to retail sales. This has Beijing anticipating that the worldâs second-largest economy will be one of the few Asian countries to report growth in 2020. How will this benefit the currency? … “Chinese Yuan Strengthens Against USD on Upbeat GDP, Retail Sales”
2020 Elections: Seven reasons why this is not 2016, time to focus on the Senate
President Trump is trailing Biden by a wide margin but skeptics point to 2016. There are seven reasons why this time is different. The Senate race is much closer and could be more consequential for markets. Polls dismissed then-candidate Donald Trump in 2016, and are off the mark also in 2020 – that is the … “2020 Elections: Seven reasons why this is not 2016, time to focus on the Senate”
Safety Net at 0.7010 on AUD/USD for the Pressured Bulls?
The Australian versus the US dollar currency pair seems to have a hard time resuming the upward movement. It is the trend approaching the end of its evolution? Long-term perspective After the rise that started following the validation as support of the 0.5516 firm area, the price started an ascending trend. The first part of this unfolding was under strict bullish control, as they conquered 0.6386 fairly quickly. Their next objective, 0.7010, required … “Safety Net at 0.7010 on AUD/USD for the Pressured Bulls?”
USD/CHF Flat on Inflation, Investors Weigh SNB Comments
The Swiss franc is trading relatively flat against the US dollar to finish the trading week. The safe-haven asset, which has been one of the top-performing currencies in this yearâs chaotic financial market, was struggling to find direction amid the latest producer and import prices and the central bankâs lack of enthusiasm over negative interest rates. Despite a bombardment of foreign exchange interventions, the franc continues to appreciate, frustrating policymakers. According to the Swiss Federal … “USD/CHF Flat on Inflation, Investors Weigh SNB Comments”
Great Britain Pound Flat Despite Worrying Brexit News
The Great Britain pound was mostly flat today despite concerning Brexit news headlines. While the sterling was trading either near the opening level or slightly higher against most of its rivals, it fell versus the Canadian dollar. The European Union and the United Kingdom decided yesterday to prolong Brexit talks beyond the October 15 deadline. But it seems that UK Prime Minister Boris Johnson wants to walk … “Great Britain Pound Flat Despite Worrying Brexit News”
GBP/USD: Sterling set for rock on Trump’s last chance, after Boris’ Brexit move
GBP/USD has struggled to advance amid minimal progress in Brexit and US fiscal stimulus talks. The US presidential debate and the UK’s handling of coronavirus, stand out in the upcoming week. Mid-October’s daily chart is painting a mixed picture. The FX Poll is pointing to falls in the short term. Two steps forward, one step back … “GBP/USD: Sterling set for rock on Trump’s last chance, after Boris’ Brexit move”
Canadian Dollar Rallies Against US Peer Driven by Dollar Dynamics
The Canadian dollar today rallied against its US peer benefitting heavily from the latter’s decline as investors remained cautiously optimistic about the global economy. The USD/CAD currency pair fell as the loonie rallied driven by the upbeat investor sentiment as Canada insists that it will not open its borders to Americans given the surge in … “Canadian Dollar Rallies Against US Peer Driven by Dollar Dynamics”
Euro Rallies on ECB Comments and In-Line Eurozone Inflation Data
The euro today inched higher against the dollar as rising eurozone coronavirus cases continued to weigh on the single currency amid mixed inflation reports. The EUR/USD currency pair was trading sideways earlier today before surging higher boosted by positive comments from European Central Bank policymakers. The EUR/USD currency pair today rallied from a low of … “Euro Rallies on ECB Comments and In-Line Eurozone Inflation Data”