The British pound today rallied higher against the US dollar amid optimism that the UK would not crash out of the EU after Boris Johnson toned down his rhetoric. The GBP/USD currency pair’s rally was also driven by the dollar’s selloff coupled with the upbeat UK inflation data released earlier today, which boosted the pound. … “Pound Rallies on Brexit Optimism, Later Falls on FOMC Decision”
US Dollar Mixed As Federal Reserve Pledges to Keep Interest Rates Low Until 2023
The US dollar is trading mixed against its G10 currency rivals midweek following the Federal Reserve‘s completion of its two-day policy meeting. The central bank left interest rates unchanged, and it pledged to keep rates lower for a few more years to support the economic recovery. With rates hovering near zero until at least 2023, how will this impact the greenback? The Federal Open Market Committee (FOMC) announced … “US Dollar Mixed As Federal Reserve Pledges to Keep Interest Rates Low Until 2023”
Japanese Yen Stable, Gains on US Dollar
The Japanese yen was stable against other most-traded currencies today, even managing to gain on the US dollar, despite the generally positive market sentiment. Traders were more cautious than usual, though, due to the upcoming FOMC monetary policy announcement, resulting in quieter-than-usual trade. Yoshihide Suga, who was serving as Chief Cabinet Secretary, will replace Shinzo Abe as Japan’s prime minister. Abe had step down due … “Japanese Yen Stable, Gains on US Dollar”
Australian Dollar Firm Ahead of Employment Report
The Australian dollar was firm today amid the generally positive market sentiment. While today’s domestic macroeconomic data was good, it was of limited importance, and traders are more interested in tomorrow’s employment report. Meanwhile, markets wait for the FOMC monetary policy announcement that will happen later today. The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index (which shows the likely pace of economic activity relative … “Australian Dollar Firm Ahead of Employment Report”
BOE Preview: Fast recovery or trio of troubles? Bank’s tone to set pound’s direction
The BOE is set to leave rates unchanged but its tone is set to rock the pound. Recovery from coronavirus has been rapid and may hold back the bank from hinting new stimulus. Higher uncertainty about Brexit, coronavirus, and the furlough scheme may result in a concerned message. Glass half-full or half-empty? That is the dilemma … “BOE Preview: Fast recovery or trio of troubles? Bank’s tone to set pound’s direction”
AUD/NZD May Retest the 1.0826 Support
The Australian versus the New Zealand dollar currency pair seems not to be prepared yet for the next upward leg. Is this just a delay or a bearish sign? Long-term perspective From the 0.9991 low, the price extended until the 1.0880 high before retracing under the 1.0826 level, thus coining a false break. However, the resulting depreciation stalled at the 1.0566 low. Upon the formation of the low, the bulls took their chance and head for 1.0826 … “AUD/NZD May Retest the 1.0826 Support”
Turkish Lira Flat After Crashing to Record Low on Credit Downgrade
The Turkish lira is trading relatively flat against the US dollar on Tuesday. The lira crashed to a record low on Monday after one of the world’s premier credit ratings agencies slapped Turkey with a credit downgrade and geopolitical tensions between Turkey and Greece escalate. After cratering to an all-time low this past spring, does … “Turkish Lira Flat After Crashing to Record Low on Credit Downgrade”
US Elections: How stocks, gold, dollar could move in four scenarios, nightmare one included
Post-Labor Day polls show Biden leading over Trump, yet the race remains open. Deadlocked fiscal relief talks play a growing part in shaping the reaction in gold. An inconclusive election is gaining ground as an outcome to consider. There are less than two months until election day – but the results may fully be known … “US Elections: How stocks, gold, dollar could move in four scenarios, nightmare one included”
Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers
The euro today rallied higher against the US dollar buoyed by the positive investor sentiment and mostly in-line macro reports from across the euro area. The EUR/USD currency pair edged higher for the fifth consecutive session as the dollar remained on the back foot due to the looming November US Presidential elections. The EUR/USD currency … “Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers”
Top 5 Forex Trading Strategies You Need to Learn in 2020
If you are contemplating getting into forex trading, you would want to do it the right way. The last thing you want to experience is unpleasant surprises along the way. And get this right, the kind of experience you get from forex trading depends on the measures you deploy in the whole process. Another thing … “Top 5 Forex Trading Strategies You Need to Learn in 2020”