The US Federal Reserve was not the only central bank to make a surprise interest rate cut at the start of the week. The Reserve Bank of New Zealand also announced an emergency cut overnight. Unsurprisingly, the New Zealand dollar reacted negatively to the announcement, opening sharply lower at the start of trading. While the kiwi has trimmed losses by now, it is still trading below the opening level against other currencies, even the US dollar. … “NZ Dollar Tumbles After Emergency Interest Rate Cut from RBNZ”
Author: admin_mm
US Dollar Opens Sharply Lower After Another Surprise Cut from Fed
The US dollar started Monday’s trading session sharply lower compared with Friday’s close. The reason for that was another surprise interest rate cut from the Federal Reserve. Currently, the greenback tries to recover but still trades below the previous session’s close against most of its major rivals. The Fed in a surprise move announced a cut of the target range for the federal funds rate by a whole percentage point to 0%-0.25%. As one could … “US Dollar Opens Sharply Lower After Another Surprise Cut from Fed”
Canadian Dollar Surges As BoC Announces Surprise 50-Basis-Point Cut
The Canadian dollar is rallying to close out the trading week after the Bank of Canada (BoC) announced a surprise 50-basis-point cut to interest rates. This comes one week after the central bank imposed a 0.5% reduction that mirrored the Federal Reserveâs recent emergency action. The BoC confirmed that it is not done, signaling that it is ready to do more if it is necessary. BoC head … “Canadian Dollar Surges As BoC Announces Surprise 50-Basis-Point Cut”
Chinese Yuan Rebounds As PBoC Unveils Additional Stimulus Measures
The Chinese yuan is rebounding at the end of the trading week, buoyed by the central bankâs recent stimulus measures to stimulate the worldâs second-largest economy as the country tries to return to normal. The yuan had breached the crucial 7 mark against the US dollar this week, but the currency might recover amid encouraging … “Chinese Yuan Rebounds As PBoC Unveils Additional Stimulus Measures”
Euro Sidelined by Coronavirus Despite In-Line German Inflation Data
The euro today traded with a negative bias against the US dollar extending its losing streak for the fourth straight session as the risk-off sentiment dominated markets. The EUR/USD currency pair’s performance was also negatively affected by the rising coronavirus cases globally, which has seen investors buy the safe-haven greenback. The EUR/USD currency pair today … “Euro Sidelined by Coronavirus Despite In-Line German Inflation Data”
Can USD/JPY Maintain Recovery Above 105.55?
The US dollar versus the Japanese yen currency managed to get above the important weekly level of 105.55. Is this a sustainable recovery? Long-term perspective The strong depreciation that came about after the confirmation of the double resistance, made possible by the upper line of the ascending channel and the level of 112.25, extended to as low as the monthly support of 101.18. From 101.18, the price sharply appreciated, reaching the weekly support of 105.55. Even if the bears tried to confirm … “Can USD/JPY Maintain Recovery Above 105.55?”
Pound Crashes Against Strong US Dollar as Global Equities Crash
The Sterling pound today fell against the US dollar driven by the risk-off market sentiment that dominated global markets amid a major equities sell-off. The GBP/USD extended its losing streak for the third consecutive day and printed new 2020 lows as investors shrugged off the stimulus package announced by the Bank of England yesterday. The … “Pound Crashes Against Strong US Dollar as Global Equities Crash”
US Dollar Surges As Federal Reserve Set to Pump $1 Trillion Into Market
The US dollar is surging against nearly all major currency rivals on Thursday as investors seek shelter from the ocean of red ink flooding global financial markets. The greenback is rallying despite the Federal Reserve set to pump more than $1 trillion into the market amid the coronavirus outbreak wreaking havoc on everything and the oil price war just beginning. For the second day in a row, the US central bank announced market … “US Dollar Surges As Federal Reserve Set to Pump $1 Trillion Into Market”
AUD/NZD Back Under 1.0361 Once Again
The Australian dollar versus the New Zealand dollar currency pair slid under the important support area of 1.0361. Will the previous lows hold afresh? Long-term perspective The depreciation that started after the level of 1.9837 was confirmed as resistance reached the weekly support of 1.0361. In January, the first bearish attempts were visible, as the low of 1.0307 was printed. After two unsuccessful attempts to stabilize the price under 1.0361, the bears decided to pull … “AUD/NZD Back Under 1.0361 Once Again”
US Dollar Rallies Amid COVID-19 Global Pandemic Declaration
The US dollar is making a late-day rally against multiple currency competitors midweek after the World Health Organization (WHO) officially declared that the coronavirus is now a global pandemic. The greenback had been relatively quiet in the middle of the trading week, but investors fled to the traditional safe-haven asset following the international bodyâs announcement. … “US Dollar Rallies Amid COVID-19 Global Pandemic Declaration”