Market News and Charts for September 01, 2020

The United States dollar to Canadian dollar exchange rate continues to fall in the trading sessions thanks to Fed-related news. For bullish financiers, the trading pair is on track to go down towards its assistance in the coming sessions, possibly striking it by the mid-point of the month. Many experts believe that 2020 is the year for bearish investors as the current shift in the United States Federal Reserves policy is integrated with numerous other factors like the number of cases and political unpredictabilities. Looking at it, the Canadian dollar has actually been greatly gaining from the more comprehensive weakness of the United States dollar. Its believed that the currency is actually one of the leading players in the forex market, along with the blocs euro. The Canadian dollar is still held back by the travel limitations in the nation. According to the Canada Border Services Agency, tourists that constraints are still in place at all Canadian international border crossings.

The Australian dollar maintains its bullish hold versus the Japanese yen and the trading pair is inching its way towards its resistance level. Since today, the trading pair is moving slightly slower after the Reserve Bank of Australia revealed that it has chosen to leave its official rates of interest unmoved at about 0.25% in its newest board conference. The decision of the RBA came ahead of tomorrows gross domestic product figures, raising a minor cloud of concern amongst investors. Luckily for the Australian dollar, the Japanese yen does not have the basics to support its cause. Moreover, bears lost their confidence when Shinzo Abe amazed the world with his resignation recently. Abe is the longest-serving Japanese prime minister in the countrys history and according to reports, his resignation was due to health reasons. Throughout an interview in Tokyo recently, Abe was reportedly struggling with colitis, a non-curable inflammatory bowel disease.

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Below are the latest forex chart updates for Tuesdays sessions. Excellent day and Good Luck!

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As the United States dollar continues to nurse its losses versus the majority of significant currencies, the New Zealand dollar sees a wide opening and rallies against the currency. Ever given that the Federal Reserve dropped the news recently, the greenback has gotten substantially weaker, permitting bullish traders of the pair to make the most of the circumstance. Its worth noting that the New Zealand dollar isnt operating on any data concerning its financial activities. Instead, its affected by the sentiment of the international market. Despite the new cases recorded by the antipodean nation, its citizen went back to their daily lives the other day after the government raised the lockdown in Auckland, New Zealand. Prime Minister Jacinda Ardern told the public that she is positive that the break out there is under control now however still made wearing a mask compulsory on public transports across the nation. The lockdown in New Zealand started on August 12 and it was officially lifted the other day.


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The US dollar to Canadian dollar exchange rate continues to fall in the trading sessions thanks to Fed-related news. Looking at it, the Canadian dollar has actually been greatly benefitting from the broader weak point of the United States dollar. As the US dollar continues to nurse its losses against the majority of significant currencies, the New Zealand dollar sees a large opening and rallies versus the currency. The euro power through this Tuesday as the US dollar drops, allowing bullish investors of the trading set to dominate the Japanese yen. As the pandemic continues to remain as a big threat, the United States dollars appeal continues to depreciate, permitting other major currencies, like the single currency, to take control.