The British pound today traded sideways against the dollar alternating between losses and gains before rallying higher to post gains amid hopes for further UK stimulus measures. The GBP/USD currency pair today rallied to its daily highs after the Chancellor of the Exchequer unveiled measures to directly support British workers. The GBP/USD currency pair today fell to a low of 1.2690 in the late Asian session before rallying to a high of 1.2780 in the mid-London market … “Pound Trades Sideways Against the Dollar, Later Edges Higher”
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SNB Keeps Monetary Policy Unchanged, Swiss Franc Weak
The Swiss National Bank made a monetary policy announcement today but markets paid little attention to it. Currently, the Swiss franc is the weakest currency on the Forex market, even losing its earlier gains versus the Australian and New Zealand dollars, which themselves were very weak. It looks like traders continue to prefer the US dollar as a refuge, ignoring other safe currencies, like the franc and the Japanese yen. As was … “SNB Keeps Monetary Policy Unchanged, Swiss Franc Weak”
Euro Falls Against US Dollar on Risk-Off Mood, Later Recovers
The euro today fell against the US dollar driven by the risk-off investor sentiment, which has been persistent this week triggering a selloff in riskier assets. The EUR/USD currency pair’s decline was also fueled by the weak German IFO survey data released earlier today combined with the greenback’s overall strength. The EUR/USD currency pair today … “Euro Falls Against US Dollar on Risk-Off Mood, Later Recovers”
US Dollar Finds Safe-Haven Support on Worse-Than-Expected Jobless Claims
The US dollar is finding support from investors who are seeking shelter following a worse-than-expected jobless claims report. The greenback has been climbing in recent weeks amid a return of volatility in the broader financial markets. With growing uncertainty in the economy surrounding the coronavirus and the upcoming cold and flu season, the buck might pare much of its losses by yearâs end. According to the Department of Labor, the number of Americans filing for first-time unemployment benefits … “US Dollar Finds Safe-Haven Support on Worse-Than-Expected Jobless Claims”
NZ Dollar Drops on Monetary Easing Outlook
The New Zealand dollar together with its Australian counterpart remained the weakest among most-traded currencies on the Forex market during today’s trading. The reason for such a poor performance was the outlook for monetary easing from the central banks of New Zealand and Australia. The Reserve Bank of New Zealand signaled yesterday that it continues to prepare for implementing negative interest rates and other measures to stimulate the struggling New Zealand economy, which got … “NZ Dollar Drops on Monetary Easing Outlook”
Japanese Yen Remains Soft Despite Pessimistic Mood
The market sentiment remained pessimistic, encouraging investors to stick to safer assets. But that did not help the Japanese yen, which was one of the weakest currencies on the Forex market during Thursday’s trading. Today, the Bank of Japan released minutes of its July monetary policy meeting. The bank talked in the notes about recovery in the global economy: Overseas economies had been depressed significantly, reflecting the impact of the COVID-19 pandemic, although they … “Japanese Yen Remains Soft Despite Pessimistic Mood”
Bears Taking Control on AUD/NZD from 1.0856?
The Australian versus the New Zealand dollar currency pair slipped under the ascending trendline. Is this the end of the bullish dominance? Long-term perspective The rally that started from the 0.9991 low and which validated 1.0013 as support, extended, firstly, until the 1.0880 high. From there, a correction phase came into being, one that drew a retracement until the 1.0566 low. After validating the 1.0551 level as support and also etching the second … “Bears Taking Control on AUD/NZD from 1.0856?”
Japanese Yen Mixed amid Signs of Economic Slowdown
The Japanese yen was mixed today despite the relatively negative sentiment amid investors. Usually, the yen rallied amid risk aversion due to its status as a safe haven. But today, the currency was struggling to rise. Some analysts explained that by the rally of the stock market. Domestic economic indicators were not favorable to the currency of Japan either. European stocks rallied, with all major indices logging gains. That alleviated … “Japanese Yen Mixed amid Signs of Economic Slowdown”
US Dollar Among Strongest on Coronavirus Fears
The US dollar was firm today, battling with the Great Britain pound for the title of the strongest currency during Wednesday’s trading. Market analysts explained the strong performance by risk aversion on markets. Investors are worried about the impact of the coronavirus pandemic and measures to contain it. While many countries were easing restrictions, the surge of new cases around the world is likely to force governments to reinstall lockdown measures. Even without the second … “US Dollar Among Strongest on Coronavirus Fears”
Euro Rallies Against Dollar, Later Falls on Dovish Sentiment
The euro today extended its losing trend against the much stronger US dollar driven by the release of mostly negative euro area PMI prints by Markit Economics. The EUR/USD currency pair today fell driven by the massive demand for the greenback amid fears that the rising coronavirus cases would derail the global economy. The EUR/USD currency pair … “Euro Rallies Against Dollar, Later Falls on Dovish Sentiment”