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Showing posts from March, 2020

GbpUsd And UsdJpy Dollar getting beat

The British Pound and the Japanese Yen are both beating the dollar in early trading in the New York session. The Japanese Yen had taken a bit of a back seat to the dollar last week but it looks like it is recovering some of those losses. Forex trading is more volatile since Coronavirus but it could be getting back to more stable trading soon.

AudJpy Rises Up During London Session

The Australian Dollar made big moves up against the Japanese Yen over night. The Reserve Bank Of Australia and the Federal Reserve opened a swap arrangement a few days ago. The movement of the AudJpy was not that smooth so it might have been difficult to catch this move with a tight stop loss.

UsdJpy Making Gains On Monday

The United States Dollar made gains against the Japanese Yen today in the forex market. The trading was a little choppy but if you have a fairly large risk appetite you could have hung in there to make some profit on the Dollar rising against the Japanese Yen.

AudJpy Reverses Course And Rises

AudJpy went against the eight day trend and started to rise in the last 24 hours. This comes as Reserve Bank Of Australia announced an interest rate cut. They also announced a package of financial measures to combat the economic effects of the Coronavirus outbreak. Most of movement occurred during London Session. NzdJpy also reversed course and headed upward.

GbpUsd Weakens As America Ramps Up Coronavirus Response

President Trump has been coming on television almost daily as he tries to reassure the American public that the Coronavirus dilemma can be minimized efficiently. The GbpUsd has gone down again during the London Session and Asian Session . It could stay that way for the New York Session. The Japanese Yen is retaining its safe haven status at a lower level than the Dollar since the Federal reserve lowered interest rates. Chf is also performing well. UsdCad is also going up.

GbpUsd Continues To Weaken As Dollar Gains Strength

The British Pound weakened against the Dollar as the Federal Reserve recently lowered interest rates. The Japanese Yen also remained relatively strong against the Aud. Canadian dollar also remained relatively strong. This was during Asian and London Session. So the dollar is performing a little better as a safe haven than the Japanese yen.

AudUsd Weakens as United States Lowers Interest rates

The Dollar gained against the Australian currency during the London session as The Federal Reserve lowered interest rates to deal with the economic implications of the Coronavirus. This is an indication that the Dollar maybe viewed as a safe haven currency during these unsteady economic times. The AudUsd has gone down steadily for 24 hours.

CadJpy Canadian Dollar and Japanese Yen Are Battling it Out As Coronavirus Gains Steam

The Canadian Dollar and Japanese Yen are Battling it Out on the currency market to find a solution to where the currency should be trading during the current economic climate. The CadJpy has been down for the last few weeks. But recently since Sunday and Monday it has been trying to find out where it will stabilize during the current environment. It has been up and down since Sunday.

The Bank Of Japan released a statement. The Bank of Japan will closely monitor future developments, and will strive to provide ample liquidity and ensure stability in financial markets through appropriate market operations and asset purchases.

The Top Central Bankers are considering acting together.


CadJpy starts Tokyo Session Strong

The CadJpy began the Tokyo Session very strong as fears over the Coronavirus have remained in the forex market. The difference this time around is that unlike the last few weeks, the Canadian Dollar has risen almost 100 pips in less than six hours.

What is behind this move ? The Japanese Yen is known as a safe haven but it did not stay strong this time. So this is a developing story and I will keep track of how this currency performs in the near future.