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Kiwi Pulls Back After Surging on RBNZ Decision, Trims Losses Later

The New Zealand dollar retreated today after yesterday’s surge caused by the central bank’s monetary policy announcement. But by now, the currency has trimmed its losses and trades not that far from the opening level. The market sentiment put pressure on the currency as traders continued to be worried about the spreading Wuhan coronavirus.

Bulls Failing to Conquer 73.93 on AUD/JPY

The Australian dollar versus the Japanese yen currency pair gives signs that the appreciation may be over. Is it so or the traders may be in for a surprise?

Pound Rallies Despite Brexit Headlines, Falls on Powell’s Testimony

The Sterling pound today rallied higher against the US dollar extending a 3-day winning streak by riding on yesterday’s momentum created by the positive UK GDP figures. The GBP/USD currency pair later fell during the American session as the Fed Chair Jerome Powell testified before the Senate housing committee where he reiterated his hawkish stance.

Chinese Yuan Mixed As Economic Stimulus Capped by Fiscal Woes

The Chinese yuan is mixed midweek as traders are waiting to see how the federal government reacts to the economic fallout from the Wuhan coronavirus, which was recently named Covid-19 by the World Health Organization (WHO). The central bank has responded and Beijing has unleashed several stimulus measures, but disappointing 2019 fiscal numbers might limit what the federal government can do.

Possible H&S on GBP/CAD with Neckline at 1.7160

The Great Britain pound versus the Canadian dollar currency pair seems to have a head and shoulders chart pattern coming in its way.

US Dollar Slips on Jerome Powell Testimony, Labor Conditions

The US dollar is trading modestly lower on Tuesday as Federal Reserve Chair Jerome Powell testified in front of lawmakers. The greenback is also heading lower on mixed economic data that showed a tightening labor market but growing business optimism. Despite the greenback taking a breather, the buck is still enjoying a strong start to 2020.

Euro Recovers From Fresh 2020 Lows on ECB Chief Lagarde’s Testimony

The euro today traded sideways against the US dollar before falling to its daily lows in the mid-European session driven by the prevailing risk-off market sentiment. The EUR/USD currency pair recovered and rallied higher in the early American session following the release of the ECB Governor Christine Lagarde‘s testimony.

Great Britain Pound Stable After GDP, Other Economic Indicators

The Great Britain pound was about flat against other major currencies and trimmed losses versus commodity currencies today after the release of a bunch of macroeconomic indicators in Britain. The data was not extremely positive, but apparently, markets considered it to be good enough to support the sterling.

Australian Dollar Extends Rise After Business Confidence Improves

The Australian dollar continued to rise today after the business confidence improved. Other commodity currencies were trying to recover as well even though investors remained cautious as the deadly coronavirus continued to spread across China.

NZD/CAD Made It to 0.8514. Where Now?

The New Zealand dollar versus the Canadian dollar currency pair reached the 0.8514 level. Is this only a met target or is the depreciation about to continue?

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