Canadian Dollar, USD/CAD Price Analysis
As the US Dollar has continued to fall, USD/CAD has continued with strength.
This highlights how the Canadian Dollar has recently been even weaker than the US Dollar.
Can USD/CAD break out to fresh highs?
USD/CAD Rallies into Resistance
It’s been a continuation of fear so far through this week, with a possible turning...
Asian Shares Mostly Lower; Bank of Korea Leaves Policy Rate Unchanged While Aussie Yields Hit Record Lows
In an unexpected move, the Bank of Korea kept its benchmark policy rate unchanged. Central bank policymakers surprised the financial markets by holding the benchmark interest rate at 1.25% when analysts polled by Reuters were expecting a rate cut.
The Australian Dollar inched lower on Friday, but still managed to close higher for the week.
The Aussie continued to be supported by the Reserve Bank’s (RBA) optimistic outlook for the economy,
but gains were likely capped by the strong U.S. economy and uncertainty over the economic impact of the coronavirus on China’s economy, Australia’s largest trading...
Mortgage rates rose slightly in the week ending 13th February, ending a run of 3 consecutive weeks in the red.
In spite of the weekly rise, mortgage rates were at the lowest level since 26th October 2019, when 30-year rates had also stood at 3.47%. Historically, rates sat just 15 basis points above a historical low 3.32% back in November 2012, according to figures...
Rishi Sunak was named the U.K.'s Chancellor of the Exchequer, just minutes after the surprise resignation of Sajid Javid. Sunak, the chief secretary to the Treasury, has a background in finance including at hedge fund The Children's Investment Fund as well as at Goldman Sachs. The pound was trading at $1.3021 up from $1.2960 on Wednesday.
US Major Indexes Hit Record Highs; GE Hits 52-Week High; Casino Stocks Back in Play
Bank of America upgraded the casino stocks to buy from neutral. The firm said the casino companies, which have been hit from heightened fear about the Chinese coronavirus, will rebound as the number of virus cases meaningfully decline.
Powell: Fed Will Fight Next Recession with Aggressive QE; Monitoring Economic Growth for Coronavirus Impact
“The real question for the Fed is: What is the likely effect on the U.S. economy? And I think we’ll begin to see that in economic data coming up fairly soon.
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It was an uncertain beginning of the week for the commodity currencies. In the meanwhile, how have the Asian currencies done?
For the Japanese Yen
There has been little influence from the economic calendar, with stats limited to current account figures that failed to move the dial.
The lack of stats left the Yen in the hands of the news...