Currency News

Forex Market: NZD/USD eases from a fresh one-month high on profit taking, holds gains achieved last week ahead of US data

NZD/USD eased from a fresh one-month high of 0.6566 during late European trade on Monday, as some market players preferred to take profits rather than risk unnecessarily amid mounting concerns that a surge in new coronavirus infections could lead to renewed lockdown restrictions and hamper economic recovery. The kiwi dollar remained supported over the past […] Read more

Forex Market: GBP/USD records modest gains as markets wait for fresh catalysts, US services data in focus

Having registered its first week of gains in four last week, GBP/USD traded modestly higher, close to the 1.2500 mark, in early European session on Monday, as markets awaited fresh catalysts that could trigger a move in either direction. Uncertainty surrounding Brexit continued to persist. Last week’s Brexit negotiations ended prematurely, as a meeting between […] Read more

Forex Market: AUD/USD set for second weekly gain as positive data offsets virus spread concerns

AUD/USD advanced for a fifth straight trading day in subdued trade on Friday and was set to register its second week of gains in a row, as largely positive macro data from China and the United States outweighed concerns over COVID-19 resurgence across the US and elsewhere. All segments of the US economy, excluding the […] Read more

Forex Market: GBP/USD remains rangebound in cautious trade, set for first gain in four weeks

GBP/USD came off Thursday’s one-week high and remained stuck in a narrow daily range below the 1.2500 mark on Friday, as COVID-19 resurgence in the United States and diplomatic tensions between Beijing and Washington over civil liberties in Hong Kong prompted caution among market players. Meanwhile, a Friday meeting between British and EU chief Brexit […] Read more

Forex Market: NZD/USD advances to fresh one-week highs as investor risk appetite heightens

NZD/USD extended gains from the prior two trading days and hit highs unseen in a bit over a week on Thursday, as the kiwi dollar appreciated on heightened investor risk appetite following promising macro data, while hopes for a coronavirus vaccine also supported sentiment. Yesterday the Institute for Supply Management said US manufacturing activity had […] Read more

Forex Market: GBP/USD rises to a fresh one-week high on data-driven optimism, vaccine hopes, focus shifts on US NFP report

GBP/USD extended gains from the prior two trading days on Thursday and touched a fresh one-week high on the back of weaker US Dollar and macro data-driven optimism. However, market players abstained from more aggressive risk taking amid surging new coronavirus infections and ahead of the key US Non-Farm Payrolls report. Yesterday the Institute for […] Read more

Forex Market: AUD/USD off one-week highs as markets balance recovery hopes with concerns over COVID-19 spread

Having advanced to a fresh one-week high in early European trade on Wednesday, AUD/USD erased those gains later in the day, returning to levels observed overnight, as markets awaited key US jobs, manufacturing data prints as well as the Minutes from Federal Reserve’s most recent policy meeting. The Aussie drew support earlier Wednesday by an […] Read more

Forex Market: GBP/USD holds ground near the 1.2400 mark after a choppy month-end session

GBP/USD held on to gains in early European trade on Wednesday ahead of a fresh string of macro data and central bank officials’ statements, scheduled later in the day. On Tuesday the Sterling bounced from near a one-month low and briefly tested the area near the 1.2400 mark in late US trade, but analysts attributed […] Read more

Forex Market: NZD/USD set for largest monthly gain since December, markets weigh data-driven optimism and virus-related fears

NZD/USD retreated for a third straight trading day on Tuesday, as market sentiment was caught between two currents – optimism driven by better-than-expected US housing and Chinese manufacturing data and concerns that the rapid spread of the coronavirus across the globe could endanger V-shaped economic recovery. “Markets are jumpy. Tension remains between economic and virus […] Read more

Forex Market: GBP/USD set to retest recent one-month lows as British economy contracts the most since 1979 in first quarter

GBP/USD retreated for a fifth straight trading day on Tuesday and was set to retest Monday’s one-month low of 1.2252, after a report by the UK Office for National Statistics showed economy had contracted at the steepest quarterly pace since the third quarter of 1979 in Q1, as non-essential businesses shut down and consumers remained […] Read more