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While the GBP has been on a bullish move, today showed the currency’s weakness against the USD. The GBP, which has been in a small short term uptrend, suddenly broke the trend with a sharp downward movement. However. this does not exactly signal a continuous downward movement. There are a few other fundamental factors that

USD/JPY currently recovered at 107.78 from 107.50 on Thursday in Asia. What appeared to have influenced this pair’s recent dynamics are the varying runs between the pandemic and a lull in oil meltdown.   A Favorable Pause on Oil Prices Decline The oil prices have likely sparked renewed hopes in economy and recovery in securities.

The recent big drop in oil prices triggered various reactions in the Forex market. Oil prices reached extreme lows with oil storage capacity decreasing. This had a direct affect on the Canadian Dollar. At the same time, the Australian Dollar also made a move in response to the situation.   The Affect on the Canadian

The Philippine peso bolstered against USD by 0.04% when it halted at 50.63:$1 on April 15 from 50.66 at the end of 2019.  According to the Department of Finance,   “The COVID-19 pandemic has barely made a dent on the Philippine peso, which remained stronger than the US dollar as of mid-April, given strong macroeconomic

China’s economic situation is in dire straits with an economic output down by 6.8% in Q1 due to the Coronavirus as well as pessimistic highlights from China’s National Bureau of Statistics  press conference. The expected shrinkage rate of China’s GDP was forecast at 6.5% but reached up to 6.8%. Some of the country’s other data

While the EURUSD has been on a bearish run in the past month, the EUR was able to make a recovery reaching a monthly high at 1.1039. It tested the 1.0636 level before shooting upward.   EU Stimulus Package Fuels Upward Movement The main reason as to why the EURUSD was able to jump further

With the volatility of the COVID-19 spread, USD weakened last Monday, pushing the gold prices higher against prior resistance of $1,680, shifting to the low $1,700s. The world acting as a catalyst sustains the strength of the yellow metal while readjusting to the US dollar movements. In the US, gold on Comex settled at $1,761.40,

According to banking giant JP Morgan, the US economy is predicted to have a 40% shrink in its economy between the months of April and June due to the effects of the spread of the Coronavirus. Having already surpassed Italy’s mortality rate, the US has recorded a total of 21,000 deaths as per news records

While the Gold Spot remained a strong safe haven in the past few days, signs of hope of the containment of the Coronavirus started slowing down the rally of the commodity. While the overall sentiment of Gold still remained on the up side, risk appetite became stronger in the market hitting the Gold Spot a

Last week saw the rise of the USD against ASEAN currencies such as the MYR (Malaysian Ringgit), SGD (Singapore Dollar), and the IDR (Indian Rupiah). Surprisingly, the PHP (Philippine Peso) was able to hold its stance while slowly rising against its USD counterpart.   The Outlier in the Story: The Philippine Peso The deviation from