Fed Chair Powell committed to buying more bonds if necessary. Soothing words of support allowed stocks to recover and the dollar to rise. Strongly urging Congress to act refocuses market perspective. Markets want money– shares initially dropped when the Federal Reserve offered only guidance but no new bond-buying. However, a dose of honey can go … “Powell’s charm offensive soothes markets, but a Santa Rally depends on Congress”
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EUR/USD Forecast: Three reasons for the massive breakout and big levels to watch
EUR/USD has surged above 1.20 to the highest since May 2018. Vaccine hopes, monetary stimulus and a dose of political certainty are behind the move. Euro/dollar has significant room to run up to 1.2205. Make EUR/USD great again – the world’s most popular currency pair is finally moving rapidly and hitting levels last seen 31 … “EUR/USD Forecast: Three reasons for the massive breakout and big levels to watch”
Euro Falls Against Dollar as EU Countries Initiate 2nd Lockdown
The euro today fell against the dollar as eurozone countries initiated fresh lockdown measures to curb the rising coronavirus cases within their borders. The EUR/USD currency pair fell driven by safe-haven flows as investors bought the dollar to hedge against the risks posed by the coronavirus pandemic to the global economy. The EUR/USD currency pair today fell from a high of 1.1788 during the Australian market to a low of 1.1717 during the early American session but has … “Euro Falls Against Dollar as EU Countries Initiate 2nd Lockdown”
Euro Falls on Rising EU Coronavirus Cases and Risk-Off Sentiment
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”
Euro Falls Against Strong Dollar Despite Revived Stimulus Talks
The euro today fell against the US dollar driven by the risk-off market mood, which saw riskier assets selloff in favour of safe-haven assets such as the greenback. The EUR/USD currency pair’s decline occurred at a major resistance level as sellers stepped in driving the pair to its daily lows buoyed by the weak German data. The EUR/USD currency pair today rallied to a high of 1.1781 in the early Frankfurt session before falling to a low of 1.1733 in the early American … “Euro Falls Against Strong Dollar Despite Revived Stimulus Talks”
Canadian Dollar Falls Against US Peer on Trump Stimulus Tweets
The Canadian dollar today gave up most of its gains against the US dollar as the latter rallied boosted by the risk-off market sentiment as stimulus hopes dissipated. The USD/CAD currency pair rallied higher during the American session as President Donald Trump dashed all hopes of a US stimulus deal ahead of the November 3 elections. The USD/CAD currency pair today rallied from a low of 1.3242 during the Asian market to a high of 1.3316 during … “Canadian Dollar Falls Against US Peer on Trump Stimulus Tweets”
Pound Trades Sideways Against the Dollar, Later Edges Higher
The British pound today traded sideways against the dollar alternating between losses and gains before rallying higher to post gains amid hopes for further UK stimulus measures. The GBP/USD currency pair today rallied to its daily highs after the Chancellor of the Exchequer unveiled measures to directly support British workers. The GBP/USD currency pair today fell to a low of 1.2690 in the late Asian session before rallying to a high of 1.2780 in the mid-London market … “Pound Trades Sideways Against the Dollar, Later Edges Higher”
Sterling Pound Rallies on Upbeat Risk Appetite, Falls on Brexit Fears
The Sterling pound today rallied higher against the US dollar driven by market optimism about progress in the development of a vaccine for the coronavirus. The GBP/USD currency pair’s rally did not last as it headed lower in the mid-London session amid market fears of a hard Brexit and a recovery by the US dollar. The GBP/USD currency pair today rallied from a low of 1.2814 in the Asian session to a high of 1.2926 in the mid-London session before reversing and giving up most … “Sterling Pound Rallies on Upbeat Risk Appetite, Falls on Brexit Fears”
Euro Rallies on ECB Rate Decision and Rising US Jobless Claims
The euro today held on to its gains after the European Central Bank announced its interest rate decision, which was in line with analysts expectations. The EUR/USD currency pair extended its bullish trend during the ECB Governor’s speech, which was quite hawkish. The EUR/USD currency pair today rallied from an initial low of 1.1800 during the Australian session to a high of 1.1893 during Lagarde’s speech but was lightly … “Euro Rallies on ECB Rate Decision and Rising US Jobless Claims”
Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar
The euro today traded lower against the US dollar after hitting new 2-year highs last seen in May 2018 earlier in the session to trade almost flat for the session. The EUR/USD currency pair broke above the crucial 1.1900 level but could not stay above the level and fell back as the bears took control of the price action. The EUR/USD currency pair today spiked to a high of 1.1915 before reversing and falling to a low of 1.1818 … “Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar”