NZD/USD remains strongly bid below 0.6300 and hovers near the monthly low as the USD strengthens.
✅ The NZD/USD exchange rate continues under intense selling pressure for the second consecutive day on Wednesday.✅ Spot prices decline closer to the monthly low amidst robust USD follow-through purchasing.✅ The dollar benefits from expectations of additional rate hikes by the Fed and the risk-averse sentiment. The NZD/USD pair extends its overnight late drop from […]
Fundamental Forex Analysis today why AUD and NZD dropped after Stronger U.S. Data | Forex Trade Signal Review
The Aussie and Kiwi dollars are sharply lower on USD strength following stronger-than-expected U.S. economic data that supports the idea that the Federal Reserve could soon signal a pull back on monetary support. Particularly for NZD, that would reduce any expected yield advantage if central banks are effectively tightening policy broadly in concert. AUD/USD is […]
GBP/USD unmoved: United Kingdom in COVID-19 recession after GDP shrinks 20.4% in Q2
The UK is in an official recession, the country’s statistics authority confirmed on Wednesday. GDP fell by 20.4% in the second quarter of 2020, the biggest fall on record, according to figures from the Office for National Statistics. The fall marks the second consecutive quarter of retraction, a widely-used definition of a recession. It is […]
Trump tweets delay 2020 US Election, DXY Sinks Below 93.00 sending EUR/USD Above 1.1800
The U.S. dollar kept sliding with the ICE U.S. Dollar Index falling 0.3% to 92.96. Apart from the record shrinking GDP readings, President Donald Trump’s tweet on delaying the November presidential election helped to beat down the greenback. U.S. official data showed that gross domestic product (GDP) shrank at an annualized rate of 32.9% in […]
EU Leaders Agree EUR 750 Stimulus Package, Lifeline to offset Economic Damage
Politicians and investors cheered the historic agreement among European Union leaders to throw southern members a EUR750 billion ($862 billion) lifeline to offset economic damage from the coronavirus pandemic. For the first time, the EU will borrow hundreds of billions of euros on debt markets to hand governments grants with few strings attached. The funding, […]
GBP/USD NZD/USD Failed to break Key Resistance Levels, AUD/NZD downtrend
👉 The absence of any update following informal U.K.-EU trade talks at a Tuesday dinner suggests little progress was made, which is negative for sterling, MUFG Bank says. “We do not expect to see GBP fortunes change unless a Brexit deal is agreed and we would view no news from last night as more likely bad […]