Oil prices and forex rates share an intimate relationship; this correlation exists due to many factors, such as balance of trade, supply chain patterns and market psychology. Crude oil is an important source of energy, and fluctuations in its price affect the global economy. The currency exchange rate becomes one of the important channels through [...]
Fears that the coronavirus (COVID-19) resurgence will recall the UK’s national lockdown recently weigh on the pound. This ignores the US dollar’s latest corrective pullback amid a light calendar. Covid updates, Brexit news and the second-tier US data should be watched for near-term direction. Tory government diplomats while citing the pressure to impose a national [...]
USD/JPY continues to trade higher with the Bank of Japan (BOJ) revising growth and inflation forecasts lower and keeping interest rates unchanged as expected. The central bank maintained the policy balance rate at -0.1% and retained the 10-year Japanese government bond yield target at about 0%, but downgraded the consumer price index (CPI) inflation forecast [...]
EUR/USD continues to drop as Eurozone's biggest economies, France and Germany, consider imposing the economically-painful lockdown restrictions to counter the rising corona virus cases. France is reportedly considering a month-long national lockdown, which could take effect from midnight on Thursday. While these measures look less severe than the ones implemented in April/May, they could still [...]
