The designation litmus test in the current technical analysis of the currency pair EUR/USD hints at the ultimate test to discern the reliability of something. This applies for both the trust in the euro and confidence in the US dollar.
When tension in the financial world increases, the Japanese yen is often considered a safe haven currency. However, this was hardly noticeable in recent weeks. A VAT increase is producing just as severe a blow on the currency as the Corona virus.
In less than a week it will become clear who will really be cut out to fight Donald Trump for the American presidency later on this year. The outcome of that battle will have a major impact on the price movement of the dollar.
It has been about a month since the news emerged that a highly contagious virus that has claimed lives had made its way from China to the West. To limit any damaging economic consequences, various measures have been taken to instil a sense of confidence that an adequate solution will be found.
The Australian dollar has suffered numerous blows in the past few years. At the end of 2019 the currency reached its lowest level in more than ten years, to drop even faster due to widespread forest fires and the Corona virus. When will the end be in sight?
The corona virus is creating ever more victims, and serious unrest. On the forex market, currencies from emerging countries are bearing the brunt. This has everything to do with falling prices for commodities like coffee and oil.