The Great Britain pound was the strongest currency on the Forex market today, rallying against other most-traded counterparts. But analysts were not convinced by the rally, arguing that it was a result of short-sellers taking profits, not supportive fundamentals. With not many fundamental factors supporting the currency and several high-profile events this week, specialists think that it is too risky to buy the sterling. The main theme for Britain’s … “Analysts Remain Unconvinced by Sterling’s Rally”
Author: admin_mm
Euro Firm on Positive Market Sentiment & Good Data, Can Face Troubles in Future
The euro was firm today, rising against most of its rivals, though posting losses versus the Great Britain pound and the New Zealand dollar. Yet not all fundamentals were positive to the currency, and it may face troubles extending rally for the rest of the week. The market sentiment was positive on Monday as global stocks rallied. The good news headlines about the COVID-19 vaccine development also helped investors to maintain optimism. And that … “Euro Firm on Positive Market Sentiment & Good Data, Can Face Troubles in Future”
Japanese Yen Soft amid Risk Appetite, Manages to Hold Ground Against Some Rivals
The Japanese yen was relatively soft today due to the positive market sentiment limiting demand for the currency in its role as a safe haven. Nevertheless, the yen managed to hold ground against a range of its major rivals, even gaining on some of them. The pharmaceutical giant AstraZeneca announced on Saturday that it resumes trials of its coronavirus vaccine. The company had to halt tests last week after one of the test subjects demonstrated symptoms … “Japanese Yen Soft amid Risk Appetite, Manages to Hold Ground Against Some Rivals”
NZ Dollar Rises After Announcement of Restrictions Easing
The New Zealand dollar rose today, managing to log gains against all other most-traded currencies (though by now, the kiwi has erased its rally versus the Great Britain pound). The likely reason for the currency’s great performance was the news about the easing of coronavirus-related restrictions in the country. The positive general market sentiment also likely played its part in the rally. Prime Minister Jacinda Ardern announced that the government will lower … “NZ Dollar Rises After Announcement of Restrictions Easing”
AUD/USD Limited by 0.7320?
The Australian versus the US dollar currency pair seems to be bounded by 0.7191 and 0.7320. Did the bulls lost their strength? Long-term perspective The appreciation from the 0.5701 low, and which extended until the 0.7436 high, conquered many levels along its way. However, the firm 0.7320 resistance area appears to be a challenge for the bulls that, until now, got used with relatively easy victories. Even more, the fact that … “AUD/USD Limited by 0.7320?”
Top Strategies Day Traders Adopt
Day trading is an act where you buy and sell financial instruments on the same day. You can also decide to trade multiple times during the course of the day. In the day trading, investors take advantage of the small prices, and results can be lucrative after playing correctly. However, this is a dangerous game, … “Top Strategies Day Traders Adopt”
USD/CNY Flat As New Bank Loans, Credit Growth Beat Market Forecasts
The Chinese yuan is trading flat against the US dollar to finish the holiday-shortened trading week. The yuan is trying to find support on positive numbers relating to credit markets. The currency has appreciated in recent months as the worldâs second-largest economy stabilizes and rebounds in the aftermath of the coronavirus pandemic. According to the Peopleâs Bank of China (PBoC), financial institutions extended $187.25 billion in new yuan loans in August, up 29% from the previous month. The median … “USD/CNY Flat As New Bank Loans, Credit Growth Beat Market Forecasts”
Euro Rallies Then Falls Against the Dollar on Upbeat US Inflation
The euro today rallied higher against the US dollar following hawkish speeches by European Central Bank policymakers during the early European session. The EUR/USD currency pair later gave up some of its gains as the Brexit rhetoric weighed on the single currency combined with the upbeat American inflation data. The EUR/USD currency pair today rallied … “Euro Rallies Then Falls Against the Dollar on Upbeat US Inflation”
US Dollar Weak, Ignores Good Inflation Data
The US dollar was among losers today, falling against most other major currencies and trading on par with the weakest of them, like the Japanese yen, the Great Britain pound, and the Canadian dollar. It looked like the release of US inflation data should be the major event on Friday but traders largely ignored it. The report came out better than expected but had hardly any positive impact on the greenback. … “US Dollar Weak, Ignores Good Inflation Data”
Sterling Falls on Brexit Fears and Weak UK GDP Data, Later Rallies
The Sterling pound today fell against the US dollar extending yesterday’s losses amid growing fears of a no-deal Brexit as both sides issue ultimatums. The GBP/USD currency pair has fallen for six of the past eight trading days as investors sell the pound as a hard Brexit appears very likely. The GBP/USD currency pair today fell to a low of 1.2763 before reversing course and rallying to a … “Sterling Falls on Brexit Fears and Weak UK GDP Data, Later Rallies”