Forex Market: AUD/USD trades not far from three-month highs supported by upbeat Australian GDP data, positive vaccine news

December 2, 2020 10:34 am
AUD/USD extended gains from the prior trading day on Wednesday and traded not far from Monday’s three-month high of 0.7408, as upbeat Australian GDP data as well as hopes of additional US economic stimulus and more positive headlines regarding coronavirus vaccines supported investor risk sentiment. A report by the Australian Bureau of Statistics showed earlier […] Read more

Forex Market: GBP/USD maintains ground above 1.3300 as a “crucial” week for a breakthrough in post-Brexit trade talks begins

November 30, 2020 11:06 am
Having climbed to highs not seen since early September last week, GBP/USD maintained ground above the 1.3300 mark in mid-European session on Monday, as market optimism that a post-Brexit trade deal between the UK and the EU may be secured continued to persist. According to Britain’s Environment Secretary George Eustice, this week is “crucial” for […] Read more

Forex Market: NZD/USD trades not far from 2 1/2-year highs, remains supported by vaccine optimism, scaled back rate cut expectations

November 26, 2020 10:30 am
NZD/USD was holding gains achieved in the prior two trading days on Thursday, after earlier touching highs not seen since mid-June 2018, as investor risk sentiment remained underpinned by coronavirus vaccine optimism and hopes of a global recovery. “A China-led recovery in the global economy and commodities should benefit commodity currencies,” Masafumi Yamamoto, chief currency […] Read more

Forex Market: AUD/USD hits a 12-week high as transition to a Biden cabinet begins, Janet Yellen may be nominated for Treasury Secretary

November 24, 2020 11:01 am
AUD/USD, along with other risk-sensitive assets, surged almost 1% on Tuesday and hit highs not seen since early September, after US President Donald Trump agreed to begin a transition to a government led by President-elect Joe Biden. It also became clear that former Federal Reserve Chair Janet Yellen would probably be nominated to become Treasury […] Read more

Forex Market: GBP/USD hits a 12-week high as positive vaccine news bolster risk sentiment, Brexit negotiations continue

November 23, 2020 10:40 am
GBP/USD hit a fresh 12-week high in early European session on Monday, after more positive news over COVID-19 vaccine progress bolstered demand for risk-sensitive currencies. AstraZeneca said on Monday that its vaccine could be about 90% effective against the coronavirus with no serious side effects. Additionally supporting sentiment, a top US health official said over […] Read more

Forex Market: NZD/USD hits a fresh 86-week high despite cooling COVID-19 vaccine optimism

November 18, 2020 9:17 am
NZD/USD rose on Wednesday and hit a fresh 86-week high, despite that concerns over surging new COVID-19 infections tempered market optimism over vaccine progress. “Further positive vaccine-development news is still expected over the next few days or weeks, and it does lower the downside risk to global growth,” Citi strategist Johanna Chua said. “But near-term […] Read more

Forex Market: AUD/USD hits a one-week high on COVID-19 vaccine optimism

November 17, 2020 9:14 am
AUD/USD, along with other risk assets, received a boost overnight after media reports stated that Moderna’s COVID-19 vaccine had had a 94.5% efficacy rate, according to preliminary results from a large late-stage clinical trial. The major pair was holding above the 0.7300 mark on Tuesday, after earlier touching a one-week high of 0.7334. “The Moderna […] Read more

Forex Market: GBP/USD trades lower at the start of the week, investors await further clues over Brexit trade talk progress

November 16, 2020 10:48 am
Having touched highs not seen since last Wednesday earlier on Monday, GBP/USD traded slightly lower in mid-European session, as Brexit negotiations resumed. Market mood remained optimistic due to hopes over a working COVID-19 vaccine and signs that the United Kingdom and the European Union might make progress in reaching a post-Brexit trade agreement. Investor optimism […] Read more

Forex Market: NZD/USD rises to a fresh 85-week high as investors assume lower probability of negative interest rates by RBNZ

November 11, 2020 9:04 am
NZD/USD rose more than 1% on Wednesday to highs not seen since late March 2019, as market players trimmed bets that the Reserve Bank of New Zealand would introduce negative interest rates. Additionally, the US Dollar paused its rally against peers as initial optimism in regard to COVID-19 vaccine progress was offset by uncertainty about […] Read more

Forex Market: AUD/USD eases from eight-week highs, but remains supported above 0.7250 as markets weigh COVID-19 vaccine progress

November 10, 2020 10:33 am
AUD/USD remained mostly steady in mid-European session on Tuesday, as markets mulled recent news over progress in a COVID-19 vaccine development. Yesterday the pair surged to highs unseen in almost eight weeks, after reports emerged that Pfizer Inc’s experimental vaccine had proven to be more than 90% effective against the COVID-19 disease, based on initial […] Read more