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Chinese Yuan Firms As PBoC Signals Flexible, Targeted Monetary Policy

The Chinese yuan is firming against multiple currency peers during the quiet holiday Thanksgiving trading session. The yuan has been strengthening since peaking at around 7.1 against the US dollar. It is likely to extend its winning streak to the end of the year after the central bank signaled that it would adjust its monetary policy directives. But how much longer will officials allow the yuan to appreciate, […]

Aussie Flat, Ignores Negative Domestic Macroeconomic Data

Macroeconomic data released in Australia on Thursday was not good but that hardly affected the Australian currency. The Aussie was trading flat against all of its most-traded peers as trading was very quiet due to a holiday in the United States.

Turkish Lira Rallies As Central Bank Sends Message to Markets With Sharp Rate Hike

The Turkish lira is enjoying one of its best rallies in 2020 as the central bank raised interest rates and sent a message to financial markets that reforms were on the way. Soon after President Recep Tayyip Erdogan cleaned house in his ministry and at the central bank, investors have been placing their bets that Turkey will adopt orthodox fiscal and monetary policies. So far, so good.

USD/IDR Rises After Surprise Interest Rate Cut from Bank Indonesia

The Indonesian rupiah fell against the US dollar today after Indonesia’s central bank performed a surprise interest rate cut. Despite the decision, the bank had an optimistic outlook for the nation’s economy.

Australian Dollar Holds Steady as Optimism Wanes

The Australian dollar held its ground today despite waning optimism about the coronavirus vaccine. Domestic macroeconomic data released in Australia on Wednesday was not great but not terrible either.

NZ Dollar Climbs on Reduced Chances for Negative Interest Rates, Retreats Later

The New Zealand dollar jumped yesterday and was trying to extend its rally today but failed to do so and has retreated by now. The reason for the jump was easy to pinpoint — the less certain outlook for negative interest rates from New Zealand’s central bank. The reason for the retreat is harder to identify but the most likely factor is the rally of the US dollar.

Turkish Lira Rallies on Easing of Currency Trading Limits, Bets on Orthodox Policy

The Turkish lira is enjoying its best rally in months as the government eased two-year-old currency trading limits, giving the lira a substantial boost. It is also rising against several currency peers as foreign exchange markets bet that the country would embrace a more orthodox monetary policy following a series of noteworthy exits in President Recep Tayyip Erdogan’s government.

US Dollar Struggles on Better-Than-Expected October Jobs Report

The US dollar is struggling to plug the hemorrhaging to finish the trading week. The greenback has been cratering against many of its major currency peers this week as a bit more certainty over the 2020 election result and a substantial rally in stocks sent the buck lower. With a better-than-expected October jobs report, is the dollar in store for greater losses in November?

Norwegian Krone Rallies After Central Bank Keeps Rates Steady

The Norwegian krone climbed against the US dollar and the euro today after Norway’s central bank decided to leave the policy rate unchanged. The drop in crude oil prices and new measures to halt the COVID-19 spread may yet hurt the currency but so far it is trading above the opening level.

US Dollar Plunges As Jobless Claims Fall to Pandemic Low, Stocks Rally

The US dollar is plunging against most of its currency rivals on Thursday as the number of Americans filing for first-time unemployment benefits declined to a pandemic low. With the 2020 US presidential election looking a little more certain in former Vice President Joe Biden’s favor, the broader financial markets are rallying, which has sparked a selloff of the greenback. Will a lower dollar be the norm in the home stretch of 2020?

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