The euro today rallied higher against the US dollar driven by the markets higher risk appetite after the US Senate agreed on a multi-trillion stimulus package. The EUR/USD currency pair’s gains were also helped in part by the easing demand for the US dollar after the Federal Reserve provided swap lines for the currency. The … “Euro Rallies on US Stimulus Package Despite Weak German IFO Data”
Author: admin_mm
GBP/CAD May Target 1.7160
The Great Britain pound versus the Canadian dollar currency pair managed to appreciate from 1.6620. Would the pair be able to sustain the gains? Long-term perspective The false piercing of the long-time resistance area represented by the level of 1.7812 sent the price in a spiral, thus reaching the next important zone, 1.6620, respectively. But from there, the price retraced all the way to 1.6986. By doing so, it also reentered into the descending channel, but … “GBP/CAD May Target 1.7160”
Swiss Franc Extends Fall Against US Dollar on SNB Interventions
The Swiss franc is slumping on Tuesday as the central bank continues to intervene in foreign exchange markets and control the value of the currency. Despite being a conventional safe-haven asset for global investors, the francâs appeal might diminish as the nation potentially slips into a recession. Last week, the Swiss National Bank (SNB) confirmed that it would escalate its foreign currency acquisitions to prevent the further rise in the franc. With the COVID-19 global pandemic decimating … “Swiss Franc Extends Fall Against US Dollar on SNB Interventions”
Pound Rallies on Upbeat Sentiment Despite Mixed UK PMI Prints
The pound Sterling today posted gains against the US dollar ignoring the weak UK PMI data points released by Markit Economics in the early Londo session. The GBP/USD steadily inched higher from the new multi-year highs posted on Last week as the British government’s lockdown measures had a positive impact on investor sentiment. The GBP/USD … “Pound Rallies on Upbeat Sentiment Despite Mixed UK PMI Prints”
AUD/JPY Could Reach 67.03
The Australian dollar versus the Japanese yen currency pair may be heading towards the north. Is this just a bearish opportunity to get better shorting prices? Long-term perspective From the peak of 76.54, after the price confirmed 76.02 as resistance, a strong depreciation took place, one that crossed important support levels without much difficulty. The fall was so pronounced that, aside from gapping, it printed the low … “AUD/JPY Could Reach 67.03”
Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike
The Canadian dollar today spiked higher against the US dollar after the Federal Reserve announced massive quantitative easing measures causing the greenback to fall. The USD/CAD currency pair fell briefly before recouping its losses and heading higher as the dollar recovered and the Loonie was weighed down by weak crude oil prices. The USD/CAD currency … “Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike”
US Dollar Gains As Federal Reserve Announces Unlimited QE
The US dollar is gaining on a couple of major currency rivals to start the trading week, despite the Federal Reserve announcing a massive expansionary program to rescue financial markets. With volatility still plaguing equities, investors continue to dive into the greenback to shield themselves from the chaos. The buck may spike again as the federal government gets ready to pass a massive stimulus bill. On Monday, the US central bank unveiled that it is … “US Dollar Gains As Federal Reserve Announces Unlimited QE”
Aussie Weak amid Lockdown, QE Bond Buying
The Australian dollar was among the weakest currencies on the Forex market together with its commodity-related counterparts today due to coronavirus panic that makes investors seek safer options. While it has trimmed its losses by now, the Aussie is still trading below the opening level against the majority of most-traded currencies. The Australian government announced lockdown to limit the spread of COVID-19, shutting down non-essential services. That includes pubs, … “Aussie Weak amid Lockdown, QE Bond Buying”
NZ Dollar Drops After RBNZ Announces QE Program
The New Zealand dollar dropped today after the Reserve Bank of New Zealand made a surprise announcement of a quantitative easing program. Currently, the kiwi has trimmed its losses but is still trading below the opening level against its most-traded counterparts, with the exception of the Australian dollar. The Aussie was dragged down by bond purchases under the quantitative easing program of its own central bank. The RBNZ made a surprise announcement … “NZ Dollar Drops After RBNZ Announces QE Program”
Is 0.5511 a Bearish Barrier on AUD/USD?
The Australian dollar versus the US dollar currency pair dropped until the 0.5511 level. The bulls may have some reasons to keep a close eye. Long-term perspective The fall that commenced after 0.6700 was confirmed as resistance continued and went as low as 0.5511. After touching the level, it retraced strongly, almost reaching the 0.6015 level. It can be considered that the price is now in the middle of a possible range, limited … “Is 0.5511 a Bearish Barrier on AUD/USD?”