Forex Market: AUD/USD extends losses due to Australia-China trade relation concerns

October 13, 2020 7:11 am
AUD/USD extended losses from the previous trading day on Tuesday, despite a rally in other risk-sensitive assets, as concerns emerged over worsening trade relations between Australia and China, its largest trading partner. A report by S&P Global Platts, citing sources with knowledge of the situation, said that state-owned utilities and steel mills in China had […] Read more

Forex Market: NZD/USD eases from 2 1/2-week highs affected by PBOC’s policy move, US stimulus talks face resistance

October 12, 2020 8:15 am
NZD/USD eased from last Friday’s 2 1/2-week high in Asian trade on Monday, as the offshore Chinese yuan depreciated following an announcement by the People’s Bank of China that the reserve requirement ratio for financial institutions for foreign exchange forwards trading would be reduced. Analysts suggest that such a move aims to achieve a lower […] Read more

Forex Market: NZD/USD eases from one-week highs as US President Trump tests positive for COVID-19, US stimulus optimism cools

October 2, 2020 7:00 am
NZD/USD eased from Thursday’s one-week high and looked set to snap a five-day streak of gains on Friday, as risk sentiment dampened following reports that US President Trump tested positive for COVID-19. In a tweet, Trump said that he and first lady Melania would enter quarantine after Hope Hicks, a senior advisor who had recently […] Read more

Forex Market: AUD/USD hits a fresh one-week high as upbeat macro data, US fiscal stimulus hopes fuel risk sentiment

October 1, 2020 7:15 am
AUD/USD extended gains from the previous three trading days on Thursday, while touching a fresh one-week high in early European session, as robust US macro data and optimism over US fiscal stimulus bolstered investor risk sentiment. US Treasury Secretary Steven Mnuchin said on Wednesday that negotiations with House Speaker Nancy Pelosi had “made a lot […] Read more