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Euro Rallies on New of Potential COVID-19 Cure, Positive Sentiment

The euro today rallied higher against the US dollar on news of a possible cure for the novel coronavirus, which saw investors bid up riskier assets such as the single currency. The EUR/USD currency pair was also boosted by investor optimism regarding the outcome of the ongoing recovery talks between finance ministers from the European Union‘s member countries.

USD/CNY Climbs Back Above 7 As Trump Reveals US-China Trade Deal Not a Priority

The Chinese yuan is holding steady at the end of the trading week, despite President Donald Trump revealing that the second phase of a US-China trade agreement is no longer a top priority. The president told reporters aboard the Air Force One that the relationship between the world’s two largest economies is “severely damaged” after the coronavirus pandemic. The yuan climbed back above the key 7 threshold after his comments, but […]

Canadian Dollar Fails to Garner Momentum on Stellar Jobs Report, Rising Energy Prices

The Canadian dollar is failing to garner momentum at the end of the trading week, despite a stellar jobs report and rising energy prices. The loonie has rebounded substantially since the market meltdown in March, driven primarily by greater confidence in global financial markets and rallying crude oil prices. Analysts are optimistic of a strong second half for the Canadian dollar, so could it happen?

USD/JPY Falls Beyond 107.00 Handle

The US dollar versus the Japanese yen currency pair seems to have been taken over by the bears, as the price slipped beneath the 107.00 psychological level. Do the bulls still have any chances?

US Dollar Weakens As Initial Jobless Claims Fall to Four-Month Low

The US dollar is trading slightly lower against a myriad of G10 currency rivals on Thursday after the US government reported that the number of Americans filing for first-time unemployment benefits beat market forecasts. The greenback has been struggling in recent sessions as investors become more confident in the broader financial market and pour into riskier bets, despite the resurgence of confirmed coronavirus cases in the background.

Bulls Testing the Descending Trendline on GBP/CAD?

The Great Britain pound versus the Canadian dollar currency pair seems to have been favored by the double bottom formation, spawning an appreciation that allows the bulls to test the trendline for weak points.

Pound Rallies Against Weak Dollar on New £30 Billion Stimulus Plan

The pound today rallied higher against the US dollar, driven by positive investor sentiment and the weakening of the greenback against most of its peers. The GBP/USD currency pair today rallied to new highs as investor risk appetite soared buoyed by the government’s new fiscal stimulus plan.

Turkish Lira Weakens to Two-Month Low As Investors Fear Another Currency Crisis

The Turkish lira is slumping to its lowest level against the US dollar in two months as investors fear that it is poised for another currency crisis. The lira has been steadily rebounding since falling to an all-time low against the greenback, but analysts warn that the fundamentals, from inflation to foreign exchange reserves, do not support its gains. Is another crash going to happen soon?

AUD/NZD Getting Closer to 1.0551

The Australian dollar versus the New Zealand dollar currency pair is approaching an important support area. Will the bulls be able to withstand the bearish pressure?

Euro Crashes on Risk-Off Sentiment, Recoups Losses on Better Mood

The euro today fell against the US dollar during the Asian session, driven by the risk-off market sentiment that saw most Asian equity markets selloff. The EUR/USD currency pair recovered some of its losses during the European session despite the mixed releases from across the euro area.

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