Grassroots Currency Speculation

The Swiss franc is strong today against the British pound. The GbpChf is steadily going lower and had a big move a couple hours ago. GbpUsd also had a big move down during London and New york session as the U.S. dollar gains strength.

The U.S. dollar strengthens against the Kiwi today as the United States is contemplating reopening the United States. No word yet how far President Donald Trump is willing to go to get the United States back open again. If he opens it too early then he risks the Coronavirus gaining a foothold which puts the United States back towards social distancing measures. If he waits too long then some businesses might not make it out of the economic slump caused by the Coronavirus. it seems like the forex market is betting in the short term that he will get the United States going earlier then was at first expected. President Trump also faces a campaign against challenger Joe Biden that is shaping up to be focused on how the Coronavirus and the economy is evaluated. There is also the threat that reopening poses to the African American community which has been hit hard by the Coronavirus. The Japanese Yen gained strength over night against the New Zealand currency in what looks like a safe have...

The AudUsd currency rose today in the New York Session. The Australian Dollar is the gateway to the Asian economy and it appears that the general idea is that the Australian economy will be able to manage through this tough period. The U.S. economy is expected to take a large hit as unemployment applications have risen to record numbers. Australia is tied to the commodity market as well. Things like Gold.

The GbpUsd currency pair is gaining. It comes on the heels of the G20 meeting were nations pledged their support to help fight the Coronavirus outbreak around the world.

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.

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.

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.

The NzdJpy, CadJpy, and UsdJpy all strengthened over night as fears of an economic down turn subsided a little. The UsdJpy made gains on the Japanese Yen as the U.S. tries to rebound from the Dollar seeing weakness in the last couple weaks.

Over night the GbpUsd currency pair continued to weaken as America rolled out an economic stimulus plan to combat the Coronavirus fall out. The Japanese Yen held on to its strength over night despite the Usd remaining strong.

The Dollar gained against the Japanese Yen over night as the Trump administration is rolling out an economic plan to deal with Coronavirus and its influence on the economy. The Dollar gained strength over all major currencies over night.

The Canadian Dollar and the U.S. Dollar have been losing strength to Japan as Coronavirus concerns set in. The Japanese have been maintaining their status as a safe haven through out most of the last two weeks. GbpJpy has also fallen for the last 3 weeks.

The EurUsd spiked up today as the Federal Reserve cuts interest rates by 50 points in the first emergency move since the Financial Crisis. UsdJpy is currently moving downward as the Japanese Yen has regain some of its safe haven status. The ChfJpy also has moved down. JpyChf is really taking off.

Jerome Powell released a press release today about the influence of the Coronavirus and the Dollar fell soon after against the Australian currency. Actually it fell across the board. Before that the Dollar was gaining strength for most of the day. There is about another hour to go and you never know if it will regain some of that lost momentum. The Aud and Nzd have made something of a recovery from yesterday so this is not a good last few days to try to make a profit in less than 24 hours  unless you know what you are doing with your stop loss for safety. Update : The Dollar has strengthened a little against most currencies in the last 30 minutes as we go to print.