Market Reviews

NZD, AUD Claw Back Up Amid Weakening US Dollar

NZD, AUD Claw Back Up Amid Weakening US Dollar

The New Zealand Dollar is fighting it’s way back up as the country enters it’s first official day of nationwide lockdown. It posted a 0.67% gain for the trading day, up to 0.58390 cents against the US Dollar. Just a week ago the NZD had dropped to 0.56, and looked ready to hit the 55 cent mark, as news broke of Air New Zealand’s layoffs.

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Finally, a Rebound For Oil

Finally, a Rebound For Oil

Crude Oil has rebounded back to above $25 per barrel, with a 25% gain for the day. This is one of the biggest single day gains in oil’s history. This rebound comes after WTI had seemingly hit rock bottom, reaching $20/barrel just a day earlier.

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The Only Thing Going Up in These Markets

The Only Thing Going Up in These Markets

The US Dollar has been making sharp moves as the only market trading in the green in the current economic crisis. On the US Dollar Index (DXY), the greenback has been living up to its name by making steady gains since the 9th of March, rising from below 95 points to above 101, the highest it has been since 2017.

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Panic Sell Continues

Panic Sell Continues

Yesterday, the Federal Reserve cut rates by a full 100 basis points, bringing the interest rate down to almost 0%. The interest rate for the US Dollar is now officially 0.25%, but is effectively zero.

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Pound Suffers 4th Consecutive Day of Loss

Pound Suffers 4th Consecutive Day of Loss

For the 4th day in a row, the British Pound has been on the downside. Following the pattern of practically every market, including stocks, currencies, and commodities, the GBP slid down to fresh lows, dropping all the way down to $1.2518 against the US Dollar.

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