Grassroots Currency Speculation

The Swiss Franc has weakened Monday to a great extent as many currencies have been trading very good against the Old Guard Safe Haven. The USD took a little of the safe haven status for itself as the dollar traded fairly strong in the opening of the New York Session. It could be that speculators are going with commodity currencies that are closely tied to Gold and Iron. CadChf is up and so is AudChf .

The Australian Dollar made a big move today against the Canadian Dollar. The AudCad rose up very smoothly and consistently and it looked like a good play for a Buy order. This was the first time in three weeks that I saw less volatility in the movement of a currency. So this is a sign that the currency markets are starting to become less volatile. It is probably also because both of these currencies are tied to commodities like oil and gold.

The Canadian Dollar is finding solid ground to were it strengthens to end the week. It strengthened against the Australian currency and the Euro. The moves were a bit choppy so the market is still very volatile and I would trade with caution. The best thing to do is stay on the side until markets calm a bit.

The British Pound gained against the Canadian Dollar on Monday as Britain has made a bit of a turn around against other currencies. The GbpCad has been rising since March 26th and before that it was headed lower for two weeks.

The British Pound and the Canadian dollar both made gains against the Japanese Yen in currency trading during the Last 24 hours. The forex market is currently in the London Session with the New York Session starting now. The Bank Of England announced supervisory and prudential policy measures .

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.

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.

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 British pound gained against the Canadian Dollar Friday during all three sessions in the forex market. Central Bankers are keeping a close eye on their economies so they can determine how to best approach the markets.