The Performance of Selected Currencies This Week

Performance of Selected Currencies

EUR/USD rose to this week’s high on Thursday at 1.2242 and dropped on Friday to a low of 1.2061 by the end of the day. XAU/USD dropped to its week’s low on Friday to 1716 from a high of 1816 on Tuesday. The Euro rose in value against some major currencies such as CAD, AUD, and NZD. US Dollar (USD) This week, the value of the USD has risen. Considering…


How Covid-19 Affects the Forex Market

Corona Virus Affects the Forex Market

How is Covid-19 impacting the FX market? Creating not only a global health emergency but a financial crisis, Covid-19 has already had a worrying impact on the economy with both industrial production and retail sales experiencing historic drops. Small businesses are closing, governments are bailing out people who can’t work and the FTSA, Dow Jones Industrial Average and the Nikkei have all seen huge falls. But what about Forex? How…


Nigeria Central Bank Boosts Liquidity

nigeria central bank boosts liquidity

The Nigeria central bank has stated that they have injected the amount of $325.64 million into the interbank foreign exchange market in order to help with the efforts of reducing dollar shortages and boosting liquidity. The recession of 2016 was no surprise to millions of Nigerians, but many say they haven’t seen it quite as bad before. Nigeria is an OPEC member with the largest economy in Africa, and fell…