The Sterling pound today fell against the US dollar amid worries that the UK economy was not recovering fast enough following its reopening after the coronavirus lockdowns. The GBP/USD currency pair today headed lower after the UK’s Finance Minister Rishi Sunak said that many people would lose their jobs due to the COVID-19 pandemic. The … “Pound Falls Against US Dollar As UK GDP Contracts 20.4% in Q2”
Author: admin_mm
Euro Rallies on Positive Sentiment, Ignores Upbeat US Inflation Data
The euro today rallied higher against the US dollar driven by the risk-on market sentiment, which saw the dollar lose ground against riskier assets such as the single currency. The EUR/USD currency pair today rallied ignoring weak data from the euro area, and upbeat inflation data from the US as investors bid up the currency … “Euro Rallies on Positive Sentiment, Ignores Upbeat US Inflation Data”
Brazilian Real Crashes on Rate Cuts, Doubts of Economic Recovery
The Brazilian real is sliding in the middle of the trading week as investors are casting doubts on the South American nationâs economic recovery. There have been signs of a recent rebound in business activity, but investors are still cautious about a dovish central bank, a resurgence in COVID-19 cases, and deteriorating relations between the US and China. Its booming commodities sector is one of the few parts of the economy that is keeping Brazil alive. … “Brazilian Real Crashes on Rate Cuts, Doubts of Economic Recovery”
Sterling Pound Rallies Against the Dollar, Later Gives Up Its Gains
The Sterling pound today rallied higher against the US dollar in the early London session driven by the upbeat investor risk appetite and the greenback’s weakness. However, the GBP/USD currency pair could not hold on to its gains as the American markets opened and headed lower as investor sentiment shifted in favour of the dollar. … “Sterling Pound Rallies Against the Dollar, Later Gives Up Its Gains”
RBNZ Preview: Ending NZD/USD’s recovery attempt? Dovish stance on QE and coronavirus may weigh
The Reserve Bank of New Zealand is set to leave interest rates unchanged at its August meeting. COVID-19’s comeback in the country may trigger a dovish stance. Hints about the bond-buying scheme or negative rates may weigh on the kiwi. Over 100 days without any coronavirus case have come to an end – and the … “RBNZ Preview: Ending NZD/USD’s recovery attempt? Dovish stance on QE and coronavirus may weigh”
US Dollar Struggles to Hold One-Week High on PPI, Falling Business Optimism
The US dollar is struggling to hold onto its best level in one week as higher producer prices and falling business optimism affected the greenback. After a near 7% slide in three months, the greenback has been holding steady so far this month amid uncertainty in the post-coronavirus global economy. But is the dollar oversold, or could inflation threaten its strength in international forex markets? In July, the producer price index … “US Dollar Struggles to Hold One-Week High on PPI, Falling Business Optimism”
UK GDP Preview: Three reasons why 20% contraction estimates are too low, GBP/USD may rise
Economists expect a contraction of over 20% in the UK’s economic output in Q2, worse than other developed economies. Figures for April and May suggest a more moderate decline. Recent UK labor statistics point to the role of the government in propping up the economy. One fifth lower – that is what the economic calendar … “UK GDP Preview: Three reasons why 20% contraction estimates are too low, GBP/USD may rise”
Euro Falls, Rallies, Then Falls Again While Trading Against the Dollar
The euro today fell against the US dollar driven by the risk-off investor sentiment, which fueled the greenback’s resurgence coupled with Friday’s upbeat US non-farm payrolls. The EUR/USD currency pair later found support and rallied higher amid improving sentiment as investors hoped for a resolution of the impasse on the US stimulus bill in Congress. The EUR/USD today fell from a … “Euro Falls, Rallies, Then Falls Again While Trading Against the Dollar”
Chinese Yuan Advances As PBoC Pledges Targeted Policy
The Chinese yuan is strengthening to kick off the trading week as the central bank vowed to adopt a more targeted and appropriate monetary policy in the post-coronavirus economy. With Beijing ostensibly winding down its ultra-aggressive stimulus and relief efforts on the monetary side, investors will be watching to see if Chinese investments will remain on an upward trajectory. The yuan is also testing 6.9 against the US dollar on the latest inflation data. Speaking … “Chinese Yuan Advances As PBoC Pledges Targeted Policy”
New Zealand Dollar Weaker During Monday’s Subdued Trading
The New Zealand dollar traded largely lower against its most-traded peers but, surprisingly, demonstrated resilience versus safer currencies, such as the Japanese yen and the Swiss franc. Macroeconomic reports in China, New Zealand’s biggest trading partner, were decent but data in New Zealand itself was not good. Trading was subdued today, especially during the Asian session, as markets in Japan and Singapore were closed for a holiday. ANZ … “New Zealand Dollar Weaker During Monday’s Subdued Trading”