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FX update: big dollar weakness pushes up Antipodean currencies

ByDragana My Engine Lab

Market Overview The division between the US economy and the rest of the developed world is widening. The global growth gap sees the US expanding at a rate of 6.0% per year. In comparison- global growth has declined in the first part of the year continuing the downtrend which started last year. The world’s biggest…

Howard Wilcox

Second wave coronavirus concerns affect mood

ByDirectfx admin

Worldwide coronavirus cases surpasses 8M with over 435,000 deaths officially reported. The Japanese Yen closed the week earning the top spot, beating out all other major currencies as “risk trade action” fades and sends investors and traders away from risk assets. We also saw better economic data out in Japan potentially supporting the Yen over…

NZD/AUD Transfer

ByDragana My Engine Lab

RBA and Melbourne Cup Day. The RBA is expected to hike interest rates from 4.10% to 4.35% later today after a 4-meeting pause. The New Zealand Dollar (NZD), Australian Dollar (AUD) cross has been bouncing around recent levels circa 0.9215 (1.0850) this week after falling to 0.9140 (1.0940) last week as risk flow benefited the…

NZD/GBP Transfer

ByDragana My Engine Lab

The New Zealand Dollar (NZD) has had a bumper week against the British Pound (GBP) rising from the 0.4565 (2.1900) level Monday to post 0.4680 (2.1380) this morning reversing nearly 2 weeks of poor performances. The Pound has struggled with the latest release of the new government’s public finances. The budget gap is larger than…

FX News

FX News

ByDirectfx admin

Australia The Australian Dollar (AUD) has largely been range bound over the week against the major pairs lacking any real direction. The US FOMC rate meeting Thursday morning saw the Australian Dollar move north against the US Dollar (USD) coming off a 3 month low of 0.7660 through to 0.7760 on a surging Dollar (USD). At the…