The Canadian dollar today rallied against its US peer fueled by the positive Canadian jobs report and the upbeat investor sentiment. The USD/CAD fell for the third straight session as the commodity-linked loonie rallied higher capitalising on the greenback’s weakness over the same period. The USD/CAD currency pair today fell from an opening high of … “Canadian Dollar Rallies Against US Peer on Upbeat Jobs Data”
Mexican Peso Strengthens As Inflation Slows, Economic Data Improves
The Mexican peso is strengthening against some of its peers to close out the trading week, buoyed by slowing inflation and improving macroeconomic data. The peso has been one of the top-performing Latin American currencies in recent months, despite the coronavirus pandemic failing to subside and the public health crisis affecting the regionâs second-largest economy. Last month, the consumer price index (CPI) rose 0.23%, down from the 0.39% increase in August. At an annualized rate, … “Mexican Peso Strengthens As Inflation Slows, Economic Data Improves”
Sterling Pound Rallies Despite UK GDP Missing Estimates
The pound today edged higher against the US dollar despite the UK’s latest GDP print missing expectations boosted by the positive investor sentiment. The GBP/USD currency pair was also lifted by news that the Rishi Sunak would announce a new jobs support programme later today fueling Britain’s economic recovery. The GBP/USD currency pair today rallied … “Sterling Pound Rallies Despite UK GDP Missing Estimates”
Bearish Resistance at 106.12 on USD/JPY?
The United States dollar versus the Japanese yen currency pair may have trouble passing the 106.12 level. Is this just a bullish pause? Long-term perspective The drop from the 111.71 peak delivered two flats. The first one is limited by 109.00 as resistance — with the amendment of the 109.85 fake breakout — and 107.00 as support — joined by two false piercings that were bounded by the 106.12 intermediary level. The second is confined within … “Bearish Resistance at 106.12 on USD/JPY?”
US Dollar Seeks Direction As Initial Jobless Claims Fall to Fresh Pandemic Low
The US dollar is searching for direction on Thursday after the number of Americans filing for first-time unemployment benefits fell to a fresh pandemic low. But the latest numbers indicate that jobless claims are sliding at a sluggish pace as hiring slows down. With Washington in a stalemate over stimulus funding, it might be hard to forecast the greenbackâs performance in the short-term amid political uncertainty. According to the Department of Labor, initial jobless claims came … “US Dollar Seeks Direction As Initial Jobless Claims Fall to Fresh Pandemic Low”
1.7285 Next Target for GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair seems to have found support at 1.7132. Are the bulls ready for a new march? Long-term perspective After the retracement that came about with the definition on the chart of the 1.6542 low, the market entered into an extended range trading phase, limited by 1.7567 as resistance and 1.6724 as support. The last upward pointing movement came into being after the price noted the double bottom highlighted … “1.7285 Next Target for GBP/CAD?”
Sterling Pound Rallies As UK Govt Prepares for No-Deal Brexit
The Sterling pound today rallied against the dollar on positive investor sentiment before falling on Brexit jitters after comments from the Irish government. The GBP/USD currency pair later rallied even after the UK said that it was actively preparing for a no-deal Brexit scenario as the October 15 deadline approaches. The GBP/USD currency pair today … “Sterling Pound Rallies As UK Govt Prepares for No-Deal Brexit”
Japanese Yen Weakens As BoJ Warns of âVery Highâ Uncertainty Amid COVID-19 Pandemic
The Japanese yen is under pressure in the middle of the trading week as the central bank warned that economic uncertainty remains âvery highâ because of the coronavirus pandemic. But the yen could find support on macroeconomic data suggesting the contraction in the worldâs third-largest economy might have subsided. Could the traditional safe-haven asset continue its strong 2020 in the final quarter? Speaking in a video message to an annual meeting of securities firms, Bank of Japan (BoJ) … “Japanese Yen Weakens As BoJ Warns of âVery Highâ Uncertainty Amid COVID-19 Pandemic”
Euro Strong After Market Sentiment Recovers
The euro was strong today, rising against all other most-traded currencies, with the exception of the Australian dollar. The possible reason for the rally was the market sentiment, which was recovering after confusing tweets from US President Donald Trump. Macroeconomic reports released in the eurozone today were mixed. Markets entered a risk-off mode after the news broke out that Trump halts negotiations with Democrats about a big stimulus … “Euro Strong After Market Sentiment Recovers”
AUD/NZD Prepared to Break 1.0826?
The Australian versus the New Zealand dollar currency pair seems to be willing to go towards the north. Do the bulls have the power to do so? Long-term perspective The appreciation from the 0.9994 low extended, after a correction phase bounded by the 1.0880 high and 1.0566 low, respectively, to 1.1043. Noteworthy is that the 1.1043 high comes outside of the resistance area that the firm level of 1.0983 represents. And because — after such a departure — the bulls … “AUD/NZD Prepared to Break 1.0826?”