The Sterling pound today fell against the US dollar as the UK and the European Union continue to play hardball with each other ahead of the official Brexit negotiations. The GBP/USD fell for most of today’s session amid low-liquidity conditions, given that the US markets remained closed even as the country celebrates President’s Day. The … “Pound Falls on Johnsonâs Brexit Comments Amid Low Liquidity”
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Chinese Yuan Gains As PBoC Cuts Rates, Hints at More Stimulus
The Chinese yuan is strengthening against the major currency rivals to kick off the trading week, buoyed by investorsâ hopes that Beijing will launch additional fiscal and monetary stimulus to protect the economy from the Wuhan coronavirus fallout. Over the last two weeks, policymakers have unveiled economic measures to limit the damage from Covid-19, and financial markets have been ebullient over the announcements. On Monday, the Peopleâs Bank of China (PBoC) lowered … “Chinese Yuan Gains As PBoC Cuts Rates, Hints at More Stimulus”
Japanese Yen Struggles to Hold Ground After Awful GDP Print
The Japanese yen was vulnerable today after the release of an awful report on the country’s gross domestic product. Furthermore, investors were moderately hopeful that China’s efforts to battle the deadly epidemic of a coronavirus will bear fruit. Nevertheless, the yen did not perform that bad considering the circumstances, even managing to gain on some of its rivals. Japan’s Cabinet Office reported that GDP dropped by 1.6% in the fourth quarter of 2020, much … “Japanese Yen Struggles to Hold Ground After Awful GDP Print”
Are the Bulls Really in Control of 0.6700 on AUDUSD?
The Australian dollar versus the US dollar currency pair seems to be part of both bullish and bearish sides. But on which side is it, actually? Long-term perspective After printing the head and shoulders pattern marked by the highs of 0.6938 and 0.6933, respectively, the price dropped under the major support of 0.6850. By doing so, it also re-entered the descending channel, which fueled the decline even more. As a result, the price reached the area of the 0.6700 … “Are the Bulls Really in Control of 0.6700 on AUDUSD?”
AUD/USD: Coronavirus not over, Australian labor data awaited
AUD/USD has been on the rise amid a calmer market mood. Australia’s jobs report and further coronavirus headlines are set to dominate trading. Mid-February’s daily chart is painting a bullish picture. The FX Poll is showing short-term drop and higher levels later on. The Australian dollar has benefited from receding fears about the coronavirus and … “AUD/USD: Coronavirus not over, Australian labor data awaited”
US Dollar Slips on Mixed Data, Coronavirus Uncertainty
The US dollar is falling against multiple currency competitors to finish the trading week. The greenback could not find a concrete direction on Friday as the key economic reports were mixed. There is still a great deal of uncertainty in global financial markets surrounding the coronavirus, which was recently named Covid-19 by the World Health Organization (WHO). Despite the hiccup at the end of the trading week, the US dollar is still having an incredible start … “US Dollar Slips on Mixed Data, Coronavirus Uncertainty”
After the reshuffle, GBP/USD now faces the hard data
GBP/USD has been able to overcome Brexit concerns and move higher after the cabinet reshuffle. A busy week including inflation, employment, retail sales, and PMIs awaits pound traders. Mid-February’s daily chart is more bullish. but points to a critical double-top. The FX Poll is showing a bullish bias on all timeframes. Keep calm and carry … “After the reshuffle, GBP/USD now faces the hard data”
Macron Gap may result in 50-100 pip fall in EUR/USD
EUR/USD has been extending its slide amid economic divergence and other factors. It is nearing the chart gap created by French President Macron’s victory in April 2017. The slow grind lower may turn into an avalanche. Is EUR/USD moving too slowly? The world’s most popular currency pair has been stuck for months and even when … “Macron Gap may result in 50-100 pip fall in EUR/USD”
Euro Range-Bound on Mixed German and Eurozone GDP Reports
The euro today continued to trade near 3-year lows against the US dollar after the release of mixed GDP data from Germany and the greater euro area. The EUR/USD currency pair extended its losing streak, which has been in place since the start of the year, as the risk-off sentiment dominated the markets in the face of the coronavirus outbreak. The EUR/USD currency pair today traded in a tight … “Euro Range-Bound on Mixed German and Eurozone GDP Reports”
Bears Packed at 110.00 on USDJPY?
The US dollar versus the Japanese yen currency pair seems to have a hard time extending beyond the 110.00 psychological level. Is it that the price stalled or the bulls are catching their breath? Long-term perspective From the low of 104.44, the price commenced an ascending trend that, beginning with November 2019, showed signs of deceleration. The area signed by the peak of 109.72 began to look like a possible strong resistance, and after the depreciation … “Bears Packed at 110.00 on USDJPY?”