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NZ Dollar Forecast for Week of September 21-25

The New Zealand dollar rallied strongly since the last year, though it was moving sideways since the summer months of this year. Last week was very good for the currency despite the sharp decline of New Zealand’s economy as the kiwi rivaled the Japanese yen for the title of the strongest currency on the Forex market. But what this week hold for the New Zealand dollar?

Japanese Yen Stable, Gains on US Dollar

The Japanese yen was stable against other most-traded currencies today, even managing to gain on the US dollar, despite the generally positive market sentiment. Traders were more cautious than usual, though, due to the upcoming FOMC monetary policy announcement, resulting in quieter-than-usual trade.

Chinese Yuan Renews Gains on Market Rally, Positive Data

The Chinese yuan is looking to start another winning streak after the currency suspended its momentum against the US dollar. The yuan has been on a tear in recent months, testing 6.8 against the greenback, primarily due to favorable domestic economic data and a weakening buck. But escalating US-China tensions and the plunge in equities in recent sessions could limit the yuan’s gains – for now.

Euro Falls Against US Dollar Extending Its 6-Day Losing Streak

The euro today fell against the US dollar for the sixth consecutive session despite the release of positive data from across the euro area. The risk-off investor sentiment drove the EUR/USD currency pair’s decline amid rising China-US tensions and the global equity markets selloff.

USD/CAD Rises As Initial Jobless Claims Fall to New Pandemic Low

The US dollar is looking to continue its winning streak on Thursday after the federal government reported that the number of Americans filing for first-time unemployment benefits plunged to a new COVID-19 pandemic low. Although the number remains historically high, the trends suggest the labor market is extending its rebound. But while the greenback has cratered in recent months, is the string of gains a signal that the currency is triggering a rally?

Australian Dollar Weak After Trade Balance Shrinks

The Australian dollar was weak today, falling against almost all other most-traded currencies. Some market analysts blamed the decline on the disappointing trade data released in Australia during the trading session, while others thought that it might be just a corrective sell-off after the incredibly good performance last month.

South Korean Won Mixed As Inflation, Manufacturing PMI Drive Currency

The South Korean won is mixed in the middle of the trading week as inflation and manufacturing data drive one of the worst-performing Asian currencies this year. Although the won has recovered against the greenback since June, the currency has come under a lot of pressure based on the recession and a coronavirus resurgence. Could the won retest 1,200 by the year’s end?

NZ Dollar Rises Despite Shrinking Trade Surplus

According to data released today, New Zealand’s trade balance surplus shrank last month. But that did not prevent the New Zealand dollar from rising. In fact, it was the strongest among the most-traded currencies.

Japanese Economic Data Mixed, Yen Recovers from Weakness

The Japanese yen was one of the weakest currencies on the Forex market today, second only to the US dollar. But currently, it has managed to recover, trading either flat of higher against most other currencies, remaining weak only against commodity ones. The relatively robust market sentiment made traders not interested in safety provided by the Japanese currency, preferring to seek riskier assets that can provide a higher yield. Domestic […]

Euro Rallies Against the Dollar on In-Line Eurozone Q2 GDP Data

The euro today edged higher against the dollar after an initial slump as investors remained concerned about the political stalemate in the US regarding further stimulus. The EUR/USD currency pair rallied higher as the greenback headed lower and investor sentiment shifted in favour of the riskier single currency, but gains were limited.

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