The euro today fell against the US dollar during the Asian session, driven by the risk-off market sentiment that saw most Asian equity markets selloff. The EUR/USD currency pair recovered some of its losses during the European session despite the mixed releases from across the euro area. The EUR/USD currency pair today fell from a … “Euro Crashes on Risk-Off Sentiment, Recoups Losses on Better Mood”
Japanese Yen Flat Amid Slumping Household Spending, Yield-Curve Control
The Japanese yen is trading relatively flat against many of its major currency counterparts on Tuesday. The yen has been struggling to find direction so far this week as household spending data disappointed and investors try to weigh the central bankâs decision to embark upon a policy of yield-curve control. Although Japan was able to flatten the coronavirus curve, it has reported a renewed uptick in confirmed cases. Will the worldâs third-largest … “Japanese Yen Flat Amid Slumping Household Spending, Yield-Curve Control”
GBP/USD Facing the 1.2514 Resistance
The Great Britain pound versus the United States dollar currency pair made a great recovery, but will the bulls be able to conquer 1.2514 as well? Long-term perspective The rally from the 1.1409 low, which confirmed the 1.1476 important support level, managed to pass the equally important 1.2092 area but was halted by 1.2514, both attempts of passing it failing and printing the 1.2647 and 1.2643 highs, respectively. After retracing to 1.2092 … “GBP/USD Facing the 1.2514 Resistance”
Chinese Yuan Strengthens As Investors Pour Into Stocks, Bank Lending Up
The Chinese yuan is strengthening against many of its currency competitors to start the trading week. But while some economic data are boosting the currency on Monday, reports that investors are pouring into the stock market at the state mediaâs direction is generating all the buzz. China Securities Journal, a state-owned publication, published a front-page editorial in which it encouraged everyone to buy stocks. According to the opinion piece, investors were … “Chinese Yuan Strengthens As Investors Pour Into Stocks, Bank Lending Up”
AUD/USD Preparing to Test the 0.7010 Level
The Australian dollar versus the United States dollar currency pair is getting very close to the 0.7010 level. Do the bulls still have enough traction to continue? Long-term perspective The depreciation that started from the 0.7019 high, after the major 0.7010 level was confirmed as resistance, extended until the 0.5701 low. From there a strong rally commenced, one that confirmed the double support made possible by the descending trend and the 0.6386 … “AUD/USD Preparing to Test the 0.7010 Level”
Canadian Dollar Flat As Oil Slumps, Manufacturing Rebounds
The Canadian dollar is trading flat against its G10 currency rivals at the end of the holiday-shortened trading week. The loonie has been gaining against several of its counterparts over the last week, despite an influx of disappointing economic data. With energy prices firmly rebounding and the investors selling the US dollar, could the Canadian dollar have a strong second half? On Friday, the IHS Markit manufacturing purchasing managersâ index climbed to 47.8 … “Canadian Dollar Flat As Oil Slumps, Manufacturing Rebounds”
Aussie Beats Rivals with Help from Domestic & Chinese Economic Reports
The Australian dollar rose today. In fact, it was the strongest among most-traded currencies on the Forex market. The Aussie got a boost from positive macroeconomic data, both domestic and Chinese. The Australian Bureau of Statistics reported that retail sales climbed by 16.9% in May on a seasonally adjusted basis. Experts were anticipating the same 16.3% jump as in the previous month. The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index rose from … “Aussie Beats Rivals with Help from Domestic & Chinese Economic Reports”
Inverted Head and Shoulders on USD/JPY from 108.05?
The United States dollar versus the Japanese yen currency pair, at first glance, seems to be in bullish hands. But is it so? Long-term perspective The fall that started from the 109.85 high extended, in a primary phase, until the 106.57 firm level, being rejected by its supportive role. However, the bears continued pressuring the price, thus drawing another leg down and etching the 106.07 low. Since 106.07 is very … “Inverted Head and Shoulders on USD/JPY from 108.05?”
Indian Rupee Settles at Three-Month High on Foreign Inflows, Vaccine Hopes
The Indian rupee is settling at its best level against the US dollar in three months as foreign inflows and vaccine hopes elevated the currency. The rupee has been Asiaâs worst-performing currency this year, driven primarily by the coronavirus pandemic and volatility in global financial markets. Could analystsâ forecasts of further appreciation in the second half of 2020 come true? Because the US and other major stock markets have relatively stabilized in recent weeks, … “Indian Rupee Settles at Three-Month High on Foreign Inflows, Vaccine Hopes”
Non-Farm Payrolls Analysis: Good, but as good as it gets, re-closing is rapidly ravage reopening gains
The US economy gained 4.8 million jobs in June, better than expected. Data is from early June when the US economy was reopening at a rapid pace. A raging second wave of coronavirus cases is set to hit employment, including in the long term. “The US never got the virus under control before reopening” – … “Non-Farm Payrolls Analysis: Good, but as good as it gets, re-closing is rapidly ravage reopening gains”