July 16, 2020 7:07 am
NZD/USD retreated on Thursday, as mixed Chinese and domestic macroeconomic data did not support a move beyond the psychological 0.6600 level. China, New Zealand’s largest trading partner, reported a faster-than-expected GDP growth during the second quarter, 3.2% year-on-year. However, retail sales unexpectedly shrank at an annualized rate of 1.8% in June, which marked the sixth […]
Read moreJuly 15, 2020 11:38 am
GBP/USD rebounded on Wednesday, moving back above the 1.2600 mark, as the US Dollar retreated due to improved risk sentiment following news of progress in development of a potential COVID-19 vaccine. The Pound also benefited from a surprisingly upbeat UK CPI inflation report, released earlier Wednesday. Several news media reported that Moderna Inc’s experimental COVID-19 […]
Read moreJuly 15, 2020 6:56 am
AUD/USD extended gains from the prior trading day and touched a fresh one-month high in early Asian session on Wednesday, as news of progress in development of a potential coronavirus vaccine and upbeat US CPI inflation numbers fueled demand for risk-sensitive currencies such as the Aussie. Reports emerged that Moderna Inc’s experimental COVID-19 vaccine had […]
Read moreJuly 14, 2020 10:47 am
GBP/USD extended losses from the previous trading day and touched a fresh one-week low in early European trade on Tuesday after a report by the UK Office for National Statistics showed a larger-than-anticipated GDP contraction in May. Annual Gross Domestic Product shrank 24.0% in May, or at the second sharpest pace on record, following a […]
Read moreJuly 14, 2020 7:11 am
NZD/USD extended losses from the prior trading day on Tuesday, as frictions between the United States and China on several fronts as well as surging new COVID-19 cases dampened demand for risk-sensitive currencies such as the kiwi dollar. Diplomatic relations between Beijing and Washington have worsened. The United States is moving closer to end Hong […]
Read moreJuly 13, 2020 11:56 am
GBP/USD encountered resistance at 1.2670, or the area near the high from June 16th, for a third straight trading day on Monday, beginning what is going to be a macro data-laden week. The US Dollar lost its safe haven allure and risk-sensitive currencies advanced over the past week on investor bets the worst of the […]
Read moreJuly 13, 2020 7:20 am
AUD/USD looked set to snap a two-day streak of losses and traded not far from last Thursday’s one-month high during early European session on Monday, as hopes of a potential COVID-19 vaccine seemed to have offset concerns over the spread of the illness, reducing the haven appeal of the US Dollar. Last Friday Gilead Sciences […]
Read moreJuly 10, 2020 11:45 am
GBP/USD came off Thursday’s three-week highs and steadied just above the 1.2600 mark in late European trade on Friday, as the recent dollar rally seemed to have paused. The Pound and other risk-sensitive currencies fell overnight as concerns over the accelerating coronavirus spread across the United States and a new surge in infections in some […]
Read moreJuly 10, 2020 6:57 am
NZD/USD eased from Thursday’s 5 1/2-month high and traded within a tight range in early European session on Friday, as the intensifying spread of the coronavirus across the United States further dampened optimism over a swift economic recovery, fueling demand for safe haven currencies such as the greenback. The latest data showed new confirmed COVID-19 […]
Read moreJuly 9, 2020 11:46 am
GBP/USD extended gains from the previous trading day on Thursday and managed to break above the 1.2600 mark hours after the announcement of UK Chancellor of the Exchequer Rishi Sunak’s economic plan to support recovery. However, developments surrounding Brexit were still restraining the Pound’s appreciation. Britain’s Finance Minister announced additional GBP 30 billion in support […]
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