The euro today fell against the US dollar driven the risk-off market sentiment amid rising coronavirus cases in the euro area stoking fears of more lockdowns. The EUR/USD currency pair fell to new 2-week lows as US stimulus talks stall ahead of the November 3 Presidential election as opinion polls place Joe Biden ahead of Trump. The EUR/USD currency pair today fell from a high of 1.1757 in the late Asian session to a low … “Euro Falls on Rising EU Coronavirus Cases and Risk-Off Sentiment”
Author: admin_mm
US Dollar Jumps As Initial Jobless Claims Surge to Seven-Week High
The US dollar is rising on Thursday after the US government reported that initial jobless claims surged more than the market had anticipated. The greenback is witnessing an influx of traders who seeking shelter from the slide in the broader financial market. With the leading benchmark indexes in the red and the metal commodities sliding, investors are searching for protection in the buck. According to the Department of Labor, the number of Americans filing for first-time unemployment benefits came … “US Dollar Jumps As Initial Jobless Claims Surge to Seven-Week High”
Aussie Falls vs. Rivals After Employment Report, Lowe’s Speech
The Australian dollar was weak today, falling against all most-traded rivals, even commodity currencies. Market analysts listed the following reasons for the decline: risk aversion on markets due to concerns that US politicians may fail to agree on a coronavirus relief package ahead of the presidential election, unfavorable Australian employment data, and comments from the Australian central bank’s chief that boosted bets on additional monetary easing. Philip Lowe, Governor … “Aussie Falls vs. Rivals After Employment Report, Lowe’s Speech”
GBP/CAD Still Wants Above 1.7132
The Great Britain pound versus the Canadian dollar currency pair seems not to let go of the idea of rising. Long-term perspective The appreciation that came into being from the low of 1.6542 — after the level of 1.6724 was falsely pierced — managed to extend beyond the 1.7567 resistance level. However, further rise was limited by the 1.7705 intermediary level. From that point onward, the price was bounded by the 1.6724 (and 1.6868) as support and 1.7567 … “GBP/CAD Still Wants Above 1.7132”
Pound Rallies on Brexit Extension Hopes Ahead of Crunch Meeting
The Sterling pound today launched a major rally against the US dollar on news that Boris Johnson was thinking of extending the Brexit talks deadline past tomorrow. The GBP/USD currency pair had initially sunk to new weekly lows before the announcement triggered a shift in investor sentiment to very bullish fueling the rally. The GBP/USD currency pair today fell to a low … “Pound Rallies on Brexit Extension Hopes Ahead of Crunch Meeting”
USD/TRY Recovers After Crashing to Fresh Record Low As Turkey Unveils Three-Year Plan
The Turkish lira is recovering after crashing to a fresh record low in the middle of the trading week. The lira, which has been one of the worst-performing currencies in 2020, has repeatedly recorded all-time lows. Depleted foreign exchange reserves, slumping economic data, and geopolitical tensions â Ankara is facing pressure on many fronts, and … “USD/TRY Recovers After Crashing to Fresh Record Low As Turkey Unveils Three-Year Plan”
AUD/NZD Falls Beneath 1.0826. What Next?
The Australian versus the New Zealand dollar currency pair made a surprise shift in direction. Is this only a temporary development? Long-term perspective The rise that started after the validation of 1.0013 as support extended until the 1.0880 high. From that peak, the price retraced under the 1.0826 level, rendering it as a false piercing. After the bulls regained their strength, they started a new surge from the 1.0566 low, not only … “AUD/NZD Falls Beneath 1.0826. What Next?”
Euro Falls Against Dollar on Risk-Off Sentiment As Investors Flee
The euro today fell against the dollar driven by the risk-off market sentiment as investors fled the riskier assets in favour of fo safe-haven instruments such as the dollar. The EUR/USD currency pair fell over 80 pips as markets reacted to news that Johnson & Johnson was pausing its COVID-19 vaccine trial due to unexplained … “Euro Falls Against Dollar on Risk-Off Sentiment As Investors Flee”
Chinese Yuan Extends Losing Streak on PBoC Move, Exports
The Chinese yuan is extending its losing streak against a basket of major currency rivals on Tuesday. The yuan, which recently suffered its worst one-day drop in seven months, slumped on slightly lower-than-expected trade data. With more economic data being released this week, the yuan could come under a lot of pressure and reverse its significant 2020 rally. According to the General Administration of Customs, China’s trade surplus slipped … “Chinese Yuan Extends Losing Streak on PBoC Move, Exports”
1.3000 On GBP/USD, Conquered by the Bulls?
The Great Britain pound versus the United States dollar currency pair seems to be willing to head north. Do the bulls have enough steam for that? Long-term perspective After the appreciation that came about following the confirmation of 1.1476 as support, the price started an ascending trend. The first impulsive swing, which started after a relative range trading phase, extended from the 1.2075 low to the 1.2818 high. After the correction that joins … “1.3000 On GBP/USD, Conquered by the Bulls?”