The Turkish lira is rebounding against the US dollar on Tuesday ahead of a crucial central bank policy meeting. The lira had slumped to a new record low over the governmentâs response to volatile foreign exchange rates that the private sector warn is destroying commerce in the fragile economy. The lira has been further decimated on dwindling foreign reserves, also supporting Wall Streetâs bearish sentiment over the currency. For more nearly two … “Turkish Lira Rebounds Ahead of Key Central Bank Meeting”
Australian Dollar Mixed After RBA Monetary Policy Meeting Minutes
The Australian dollar was mixed against its most-traded counterpart during today’s trading session but was generally holding ground. The session was very light in terms of macroeconomic releases, with only notable ones being the minutes of the latest monetary policy meeting released by the Reserve Bank of Australia and US housing data. The RBA released today the minutes of the meeting that happened on August 4. At the meeting, the Board decided to keep the stimulus … “Australian Dollar Mixed After RBA Monetary Policy Meeting Minutes”
Bulls Attempting to Pass the 1.3185 High on GBP/USD?
The Great Britain pound versus the United States dollar currency pair seems to be dominated by the bulls, but are they still capable of pushing the price higher? Long-term perspective After the pause that followed the rally from the 1.1409 low, the bulls searched for a support level to start a new movement from. They found it at 1.2092. From there, a new ascending trend commenced, one that extended until the 1.3185 high. … “Bulls Attempting to Pass the 1.3185 High on GBP/USD?”
Chinese Yuan Gains As PBoC Pumps More Liquidity Into System
The Chinese yuan is continuing its gains against the US dollar to kick off the trading week. The yuanâs strength was buoyed by the central bank pumping more liquidity into the system and leaving interest rates unchanged for the fourth consecutive month. After breaking below the seven against the greenback, the yuan has been steadily testing 6.9. How much better … “Chinese Yuan Gains As PBoC Pumps More Liquidity Into System”
Bulls Able to Take Out 0.7243 Peak on AUD/USD?
The Australian versus the United States dollar currency pair seems to have lost its steam. Is that really so, or are the bulls setting up a masterplan? Long-term perspective The appreciation from the 0.5701 low managed to etch the 0.7243 high. In this endeavor, important resistance levels were conquered, including 0.7010, which allowed a strong movement towards 0.7191. However, to be noted is that the supportive trendline has been … “Bulls Able to Take Out 0.7243 Peak on AUD/USD?”
Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing
The Canadian dollar pared its weekly gain to close out the trading week, driven primarily by slumping energy prices. But the loonieâs drop was capped by better-than-expected manufacturing data. Still, the Canadian dollar is poised for a significant 1% weekly advance against the US dollar as the currency continues its rebound following an abysmal first half of 2020. According to Statistics Canada, manufacturing sales surged 20.7% in June, up from an 11.6% … “Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing”
Euro Rallies Against the Dollar on In-Line Eurozone Q2 GDP Data
The euro today edged higher against the dollar after an initial slump as investors remained concerned about the political stalemate in the US regarding further stimulus. The EUR/USD currency pair rallied higher as the greenback headed lower and investor sentiment shifted in favour of the riskier single currency, but gains were limited. The EUR/USD currency … “Euro Rallies Against the Dollar on In-Line Eurozone Q2 GDP Data”
US Retail Sales: Last hurrah may risk critical stimulus, prove double-edged sword
US retail sales beat expectations on almost all measures. The data reflects the last month of full coronavirus-related fiscal stimulus. Robust figures may prompt lawmakers to drag their feet, causing a crash moving forward. V-shaped recovery – that is what retail sales figures for July reflect for the US economy, and that was already seen … “US Retail Sales: Last hurrah may risk critical stimulus, prove double-edged sword”
Forex Trading? 5 Tips to Help You Be Successful
To be a successful trader, it takes time, practice and a lot of dedication. You can’t expect to dive in headfirst without any preparation and expect to be successful. Forex trading is no different. Trying out forex trading is an excellent way to diversify your portfolio. Learning the basics, so you understand not only what … “Forex Trading? 5 Tips to Help You Be Successful”
US Dollar Weakens As Initial Jobless Claims Fall Below One Million
The US dollar is weakening against several of its G10 currency counterparts on Thursday after it was reported that the number of Americans fell below one million for the first time since the start of the coronavirus pandemic. The greenback had shown signs of momentum earlier this week, but it has pared most of those gains as the buck is on track to test fresh multi-week lows. Where is the dollar headed? According … “US Dollar Weakens As Initial Jobless Claims Fall Below One Million”