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The Great Britain pound versus the US dollar currency pair may fall in bearish hands. But will the bulls allow this? Long-term perspective After the low of 1.2075 validated the firm support of 1.2092, the price started an ascending trend that extended nearby the 1.3502 intermediary level. However, as the 1.3502 high was well above a triple resistance area — defined by the descending trendline, the upper line of the rising channel, and the 1.3261 level — validating […]
The sterling pound today surged to 12-week highs against the dollar boosted by news of AstraZeneca’s COVID-19 vaccine given that its a British/Swedish company. The GBP/USD currency pair later trimmed its gains after the dollar surged to new multi-month highs on upbeat US Flash PMIs released by Markit Economics.
The euro today rallied higher against the US dollar in the first half of today’s session boosted by investor optimism about a potential coronavirus vaccine. The EUR/USD currency pair later reversed course during the American session and turned negative for the day on the upbeat US PMI data, which boosted the dollar.
The US dollar is extending its weakness to start the trading week, driven mostly by optimism in the broader financial market amid the latest coronavirus vaccine from Oxford-AstraZeneca. This comes soon after Pfizer and Moderna announced their own two-dose inoculations in preventing COVID-19. With economic data being mostly quiet on Monday, traders will be looking for the latest hints regarding US fiscal stimulus and relief packages.
The Australian versus the US dollar currency pair seems to be under bullish dominance. Are the bears going to do something?
The Russian ruble is trading relatively flat against several currency peers to close out the trading week. The ruble has witnessed a resurgence this week as foreign exchange traders poured into the currency amid a significant rally in Brent crude oil prices. But the gains may have been capped by disappointing economic data. With tighter lockdown restrictions in Europe, could the ruble come under pressure in the home stretch of 2020?
The Canadian dollar today rallied against its US peer boosted by the global crude oil prices kept rising and were on track to close higher for the week. The USD/CAD currency pair fell for the third consecutive session as the loonie rallied following the release of upbeat Canadian retail sales data for September.
The British pound today surged higher against the US dollar boosted by the upbeat UK retail sales data, which beat analysts expectations by a wide margin. The GBP/USD currency pair’s rally was also fueled by investor optimism regarding the post-Brexit trade talks ahead of the rapidly approaching December 31st deadline.
The US dollar versus the Japanese yen currency pair seems to be under a lot of bearish pressure. Do the bears hold any chance until 103.15?
Is the US dollar in store for a rally in the coming days amid a potential selloff in the broader financial markets? With news that several of the US central bank’s emergency lending programs will be allowed to expire at the end of the year, equities could come under pressure, which would possibly benefit the traditional safe-haven asset.
