The Australian dollar was firm today amid the generally positive market sentiment. While today’s domestic macroeconomic data was good, it was of limited importance, and traders are more interested in tomorrow’s employment report. Meanwhile, markets wait for the FOMC monetary policy announcement that will happen later today. The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index (which shows the likely pace of economic activity relative … “Australian Dollar Firm Ahead of Employment Report”
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BOE Preview: Fast recovery or trio of troubles? Bank’s tone to set pound’s direction
The BOE is set to leave rates unchanged but its tone is set to rock the pound. Recovery from coronavirus has been rapid and may hold back the bank from hinting new stimulus. Higher uncertainty about Brexit, coronavirus, and the furlough scheme may result in a concerned message. Glass half-full or half-empty? That is the dilemma … “BOE Preview: Fast recovery or trio of troubles? Bank’s tone to set pound’s direction”
AUD/NZD May Retest the 1.0826 Support
The Australian versus the New Zealand dollar currency pair seems not to be prepared yet for the next upward leg. Is this just a delay or a bearish sign? Long-term perspective From the 0.9991 low, the price extended until the 1.0880 high before retracing under the 1.0826 level, thus coining a false break. However, the resulting depreciation stalled at the 1.0566 low. Upon the formation of the low, the bulls took their chance and head for 1.0826 … “AUD/NZD May Retest the 1.0826 Support”
Turkish Lira Flat After Crashing to Record Low on Credit Downgrade
The Turkish lira is trading relatively flat against the US dollar on Tuesday. The lira crashed to a record low on Monday after one of the world’s premier credit ratings agencies slapped Turkey with a credit downgrade and geopolitical tensions between Turkey and Greece escalate. After cratering to an all-time low this past spring, does … “Turkish Lira Flat After Crashing to Record Low on Credit Downgrade”
Sterling Pound Rallies on Upbeat Risk Appetite, Falls on Brexit Fears
The Sterling pound today rallied higher against the US dollar driven by market optimism about progress in the development of a vaccine for the coronavirus. The GBP/USD currency pair’s rally did not last as it headed lower in the mid-London session amid market fears of a hard Brexit and a recovery by the US dollar. The GBP/USD currency pair today rallied from a low of 1.2814 in the Asian session to a high of 1.2926 in the mid-London session before reversing and giving up most … “Sterling Pound Rallies on Upbeat Risk Appetite, Falls on Brexit Fears”
US Elections: How stocks, gold, dollar could move in four scenarios, nightmare one included
Post-Labor Day polls show Biden leading over Trump, yet the race remains open. Deadlocked fiscal relief talks play a growing part in shaping the reaction in gold. An inconclusive election is gaining ground as an outcome to consider. There are less than two months until election day – but the results may fully be known … “US Elections: How stocks, gold, dollar could move in four scenarios, nightmare one included”
Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers
The euro today rallied higher against the US dollar buoyed by the positive investor sentiment and mostly in-line macro reports from across the euro area. The EUR/USD currency pair edged higher for the fifth consecutive session as the dollar remained on the back foot due to the looming November US Presidential elections. The EUR/USD currency … “Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers”
Top 5 Forex Trading Strategies You Need to Learn in 2020
If you are contemplating getting into forex trading, you would want to do it the right way. The last thing you want to experience is unpleasant surprises along the way. And get this right, the kind of experience you get from forex trading depends on the measures you deploy in the whole process. Another thing … “Top 5 Forex Trading Strategies You Need to Learn in 2020”
Possible Support at 1.2777 on GBP/USD?
The Great Britain pound versus the US dollar currency pair seems to be bouncing off 1.2777. Is this a sustainable appreciation? Long-term perspective From the 1.2075 low, after the validation of 1.2092 as support, the price began an ascending trend, as marked by the 1.2818 higher high and 1.2251 higher low, respectively. This fueled the bullish enthusiasm and, as a result, the price climbed, almost touching the 1.3502 intermediary level. Along the path of this rise, … “Possible Support at 1.2777 on GBP/USD?”
Chinese Yuan Extends Winning Streak, Tests 6.8 on Liquidity
The Chinese yuan is extending its winning streak against the US dollar to start the trading week, driven by a liquidity injection and a recovering economy. A slumping greenback further contributed to the yuanâs ascent, allowing the currency to soon test 6.8, which would be the first time since June 2019. On Monday, the Peopleâs Bank of China (PBoC) announced that it injected a net $33.63 billion of liquidity into the nationâs financial system through … “Chinese Yuan Extends Winning Streak, Tests 6.8 on Liquidity”