Currency News

Forex Market: NZD/USD gains but upside seen limited by COVID-19 vaccine, US fiscal stimulus uncertainty

NZD/USD was edging up in early European session on Wednesday following remarks by a senior official from the Reserve Bank of New Zealand, but uncertainty surrounding a coronavirus vaccine and a new US fiscal stimulus package kept the safe haven US Dollar supported, while limiting kiwi gains. In a speech via video link during a […] Read more

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

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

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: GBP/USD holds gains on better Brexit deal prospects, increased bets on Biden election win

GBP/USD was holding gains from the previous two trading days on Friday, drawing support from better prospects of a Brexit deal, while investor bets that Joe Biden would win the US presidential election and his administration would offer fiscal aid afterwards rose, weighing on safe haven US Dollar. Some major banks on Wall Street project […] Read more

Forex Market: AUD/USD extends gains as renewed US stimulus hopes support demand for riskier assets

AUD/USD extended gains from the previous trading day on Thursday as renewed hopes over some US fiscal spending supported investor risk sentiment. Reports emerged stating that US President Trump and House Speaker Nancy Pelosi were open to reaching an agreement on fiscal aid for the airline industry, regardless of that Trump had already called off […] Read more

Forex Market: NZD/USD trades near one-week lows as a delay in US stimulus talks cools risk sentiment

NZD/USD was trading in proximity to one-week lows on Wednesday, following its steepest single-day drop since September 23rd on Tuesday, as market sentiment took a hit after US President Trump’s decision to call off talks on fiscal stimulus with Democrat lawmakers. Trump, who is still under treatment for COVID-19, surprised markets on Tuesday by calling […] Read more

Forex Market: AUD/USD slips from intraday highs as RBA monetary easing bias remains in place

AUD/USD erased earlier gains on Tuesday, as in spite of a softer US Dollar, the prospects of further monetary stimulus by the Reserve Bank of Australia weighed on the Aussie. The pair briefly advanced above the 0.7200 mark, after the RBA left the cash rate without change at a record low level of 0.25% at […] Read more

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

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

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

Forex Market: NZD/USD on track to register first monthly loss since March on RBNZ rate outlook

NZD/USD was holding gains from the previous trading day in early European session on Wednesday. Still, however, the major pair was set to register its first monthly loss since March, being down 2.26% so far in September, as market players expect the Reserve Bank of New Zealand to introduce negative interest rates and adopt further […] Read more