The Turkish liraâs recovery since hitting all-time lows against the US dollar and the euro has stalled. The currency is once again testing 7.8 per dollar amid ballooning inflation and rising geopolitical tensions in the region. Global financial markets have been apprehensive about Ankaraâs potential involvement in the Armenia-Azerbaijan conflict, with President Recep Tayyip Erdogan supporting Baku in the renewed battle. According to the Turkish Statistical Institute, the consumer price … “USD/TRY Retests 7.8 As Inflation Surges, Geopolitical Tensions Escalate”
GBP/USD Back to the 1.3000 Level
The Great Britain pound versus the US dollar currency pair sits just under the 1.3000 psychological level. Where to from here? Long-term perspective The trend that started at the 1.2092 support, after the 1.2075 low was printed, managed to appreciate a hair away from 1.3502. However, as the retracement from 1.3502 failed to find support at 1.3261, the price fell beneath the triple resistance defined by 1.3261, the descending trendline, and the upper line of the ascending … “GBP/USD Back to the 1.3000 Level”
Chinese Yuan Flat After Having Best Quarter in a Decade
The Chinese yuan is trading flat against the US dollar, but it has topped 8.0 against the euro to kick off the trading week. The yuan is coming off its best quarter in more than a decade as analysts warn think the yuan could become the next safe-haven currency amid volatility. Can the yuan test 6.6 in the final quarter of 2020? The broader financial market has been surprised by the yuan’s appreciation … “Chinese Yuan Flat After Having Best Quarter in a Decade”
AUD/USD Under 0.7191. Have the Bulls Met Resistance?
The Australian versus the US dollar currency pair slipped under the 0.7193 level and looks like it has difficulties in regaining it. Could this be a bearish sign? Long-term perspective The appreciation that started from the 0.5701 low advanced until the 0.7413 high. However, after falling beneath 0.7320, the price began a descending movement, as the bullish attempt to validate 0.7191 as support failed. The bullish missed effort left the bears with … “AUD/USD Under 0.7191. Have the Bulls Met Resistance?”
Euro Falls Against Dollar on Risk-Off Mood, Non-Farm Payrolls
The euro today fell against the dollar reversing all of yesterday’s gains driven by the risk-off market sentiment after US President Donald Trump tested positive for COVID-19. The EUR/USD currency pair’s decline was further fueled by the weak inflation data from the euro area, which could derail the bloc’s economic recovery. The EUR/USD currency pair … “Euro Falls Against Dollar on Risk-Off Mood, Non-Farm Payrolls”
GBP/USD: Will Boris break the Brexit deadlock? Volatility set to explode
GBP/USD has been torn between hope and despair in both Brexit and US fiscal talks. Politics, rising coronavirus cases, and the Fed minutes stand out in October’s first full week. Early October’s daily chart is painting a mixed picture. The FX Poll shows experts are bullish on all timeframes. Optimism on Brexit with pessimism on … “GBP/USD: Will Boris break the Brexit deadlock? Volatility set to explode”
NFP Analysis: Stocks set to fall as sub 8% jobless rate lowers chances for stimulus
The US gained 661,000 jobs in September, weaker than expected, but the jobless rate fell to 7.9%. Markets are focused on fiscal stimulus and the political headline lowers the chances of a deal. Trump’s positive coronavirus test is grabbing the headlines and also limits the scope for further relief. Positive for COVID-19 – the new … “NFP Analysis: Stocks set to fall as sub 8% jobless rate lowers chances for stimulus”
Sterling Pound Rallies As Boris Johnson Acts to Save Brexit Talks
The Sterling pound today rallied against the dollar after the British Prime Minister intervened to try and save the Brexit talks, which seem to be falling apart. The GBP/USD today rallied higher despite the lack of macro releases from the UK docket as the positive Brexit developments boosted investor sentiment towards the pound. The GBP/USD … “Sterling Pound Rallies As Boris Johnson Acts to Save Brexit Talks”
US Dollar Rises Amid September Jobs Report, Trump Testing Positive for COVID-19
The US dollar is holding its gains to finish the trading week as investors get spooked by a worse-than-expected September jobs report. But the main headline maker is that President Donald Trump and the First Lady tested positive for COVID-19. This was the curveball tossed into the broader financial market with a month to go until the 2020 election. How will the buck react in the coming days? According to the Bureau of Labor Statistics (BLS), … “US Dollar Rises Amid September Jobs Report, Trump Testing Positive for COVID-19”
Trump’s coronavirus adds uncertainty in three ways, stocks have more room to fall
President Donald Trump’s contraction of COVID-19 raises questions about fiscal stimulus talks. Sympathy could strengthen the incumbent’s position, narrowing his gap with rival Biden and tightening the race. Questions about the Vice President’s Pence’s leadership could rise. The October surprise is here – President Donald Trump and his wife Melania tested positive for COVID-19. The … “Trump’s coronavirus adds uncertainty in three ways, stocks have more room to fall”