Currency News

Ethereum Price Analysis: Trend Is Following Bullish Patterns

The price chart for cryptocurrency ethereum displays bullish patterns despite the recent correction. Ethereum’s Price Chart Framed with Price Channels Going back to 2019, ethereum price has (for the most part) been contained within parallel price channels. Looking at the chart below, we can see price following the downward sloping price channel from June 2019 […] Read more

Forex Market: AUD/USD falls as RBA maintains accommodative policy stance, continues bond purchases

AUD/USD retreated on Tuesday after the Reserve Bank of Australia (RBA) once again pledged to continue bond purchases and reassured that accelerated growth would not lead to an early policy tightening. The RBA also left its official cash rate without change at a record low level of 0.10% at its policy meeting on Tuesday, in […] Read more

Forex Market: GBP/USD recovers from Friday’s one-week trough, UK’s successful vaccine roll-out supports

After a sharp retreat against the US Dollar at the end of last week due to an aggressive sell-off in global bond markets, the Sterling and other risk-sensitive currencies stabilized during Monday’s European session, recouping a portion of losses. Bond sell-off reflected a bet by investors that central banks across the globe will have to […] Read more

Bitcoin Price Retraces Back to Previous Support

Bitcoin’s price performance has started off the year with a bang and the price charts still look long-term bullish. At the time of this writing, Bitcoin’s YTD performance against the USD shows a 71% increase.  As we approach the final days of February, it is shaping up to be a solid month too with a […] Read more

Forex Market: AUD/USD hits a fresh three-year high amid a surge in commodity prices

AUD/USD traded in proximity to fresh three-year highs on Tuesday, underpinned by the recent surge in commodity prices. Higher prices for a range of materials, including oil, copper, lumber and milk powder, have provided support to commodity currencies such as the Aussie and the kiwi dollars. Yesterday the price of copper surged above $9,000 per […] Read more

Forex Market: GBP/USD hits a fresh 34-month high as vaccine roll-out success fuels investor risk sentiment

GBP/USD hit a fresh 34-month high in early European trade on Monday, as the Sterling firmed further due to UK’s relative success in COVID-19 vaccination roll-out, which is expected to pull the economy out of the pandemic-induced recession. Ebbing concerns that the Bank of England could bring interest rates below zero has been another factor […] Read more

Forex Market: AUD/USD hits a fresh one-month high, tracking a surge in oil prices, recovery optimism also supports

AUD/USD extended gains from the previous three trading days on Tuesday, while touching a fresh one-month high, as it benefited from a surge in oil prices and optimism over a global economic recovery. The Aussie dollar, along with other commodity currencies, tracked higher oil prices after a cold front triggered a shutdown of wells and […] Read more

Forex Market: GBP/USD hits a fresh 34-month high on UK vaccine roll-out success, Dollar pressured by recovery pace doubts

GBP/USD rose to a fresh 34-month high on Monday, as market players doubted whether US recovery from the pandemic-induced shock would be as fast as anticipated, which pressured the US Dollar. The Sterling has also drawn support from the success of the UK government’s vaccination program. Reports emerged that the government had achieved its objective […] Read more

Forex Market: AUD/USD hits a fresh two-week high on improved risk sentiment, optimistic Australian business confidence data

AUD/USD, a liquid proxy for risk, extended gains from the previous two trading days on Tuesday, while touching a fresh two-week high, supported by improved market sentiment and upbeat Australian macro data. National Australia Bank’s gauge of business confidence, reported earlier Tuesday, climbed to a reading of 10 in January from a revised up value […] Read more

Forex Market: GBP/USD eases from over 2 1/2-year highs, GBP outlook bullish, USD waits for fresh clues over economy

GBP/USD eased from recent more than 2 1/2-year highs, but remained supported just above the 1.3700 mark on Monday, with some analysts being rather bullish on its outlook. Earlier in February the Sterling climbed to highs unseen since May 2018 against the US Dollar, supported by improved risk sentiment, optimism over UK’s coronavirus vaccine roll-out […] Read more