Forex Market: AUD/USD hits highs unseen since mid-June 2018 as broader risk sentiment remains supported

December 16, 2020 11:00 am
AUD/USD rose to a fresh 131-week high on Wednesday, as prospects of a vaccine-led global economic recovery kept risk-sensitive assets supported. Yesterday the Australian dollar took a hit after China confirmed a ban on Australia’s thermal coal exports amid continuing trade frictions between the two countries. According to Daniel Hynes, a senior commodity strategist at […] Read more

Forex Market: GBP/USD mostly stable after recent rebound as Brexit trade deal optimism re-emerges

December 15, 2020 10:27 am
Following a 0.7% rebound on Monday, GBP/USD remained mostly steady in mid-European session on Tuesday as investor optimism over the possibility of a post-Brexit trade deal re-emerged. Yesterday the currency pair surged to 1.3445, rebounding from last Friday’s one-month low of 1.3134, after reports stated EU and UK negotiators had agreed on Sunday to “go […] Read more

Forex Market: AUD/USD hits a fresh 29-month high on US stimulus hopes, upbeat Australian consumer sentiment data

December 9, 2020 10:25 am
AUD/USD surged sharply in early European session on Wednesday, while hitting a fresh 29-month high, as hopes over US stimulus as well as COVID-19 vaccine approval fueled investor risk sentiment. The Trump administration proposed on Tuesday a $916 billion coronavirus aid package, after a slimmer proposal had already been rejected by congressional Democrats. Meanwhile, the […] Read more

Forex Market: GBP/USD plunges to an over two-week low as Brexit jitters affect investor sentiment

December 7, 2020 10:43 am
GBP/USD retreated more than 1.2% on Monday, while touching lows unseen since November 19th, as market players became more concerned about the possibility of Britain and the European Union not managing to secure a post-Brexit trade deal as last-minute negotiations resumed. A senior EU diplomat said that European Union’s chief negotiator Michel Barnier was “rather […] Read more

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