The Chinese yuan is slumping to kick off the trading week, despite a surprise gain in new motor vehicle sales last month. Investors are potentially keeping an eye on internal financing struggles and concerns over a renewed trade war between the two largest economies. Despite the coronavirus pandemic shutting down China, the yuan has only recorded modest losses against the US dollar. If the data improves, could the currency test … “Chinese Yuan Slumps Despite Surprising Gain in Auto Sales”
Month: May 2020
AUD/USD Above the 0.6500 Handle
The Australian dollar versus the US dollar currency pair is, yet again, above the 0.6500 psychological level. It’s the bulls that won, or is the bears that are preparing their final push? Long-term perspective After confirming the support level of 0.5511, the price started an upwards movement that, against the bearish odds, accomplished to pierce major resistances and establish them as support areas. And it looks like the 0.6500 psychological level … “AUD/USD Above the 0.6500 Handle”
AUD/USD: More upside? Global gloom could overwhelm even robust Australian figures
AUD/USD has held up yet failed to reach new highs amid global concerns. Sino-American relations, Australia’s jobs report and US retail sales stand out. Mid-May’s daily chart is showing bears are gaining ground. The FX Poll is pointing to falls on all timeframes, yet with upgraded targets. The Australian dollar benefited from the encouraging coronavirus … “AUD/USD: More upside? Global gloom could overwhelm even robust Australian figures”
Canadian Dollar Rallies Against US Peer on US/Canadian Jobs Data
The Canadian dollar today rallied against its Southern neighbour after the release of jobs data from both countries with some prints beating analysts’ estimates. The USD/CAD currency pair today printed news lows as US non-farm payrolls disappointed causing the greenback to lose ground against the loonie amid higher oil prices. The USD/CAD currency pair today fell from a high of … “Canadian Dollar Rallies Against US Peer on US/Canadian Jobs Data”
US Dollar Weakens As Economy Lost Historic 20.5 Million Jobs in April
The US dollar is weakening against most of its G10 currency counterparts at the end of the trading week. All eyes were focused on the April jobs report as the national economy lost more than 20 million jobs last month. Is the worst over, or is the US bracing for the real economic storm? According to the Bureau of Labor Statistics (BLS), the US lost 20.5 million jobs, which was lower than the median estimate … “US Dollar Weakens As Economy Lost Historic 20.5 Million Jobs in April”
Australian Dollar Remains Strong After Economic Forecast
The Australian dollar remained firm today, being one of the strongest currencies on the Forex market, second only to the New Zealand dollar. The Australian central bank released its economic projections on Friday. While they were pessimistic in the short term, over the longer term the projections were fairly positive. The Reserve Bank of Australia released the Statement on the Monetary Policy today. As part of the release, the RBA provided updated economic projections. The country’s gross domestic … “Australian Dollar Remains Strong After Economic Forecast”
Japanese Yen Weakest on Forex After US-China Trade Talks
The Japanese yen was the weakest currency on the Forex market today after the market sentiment improved, limiting demand for the currency in its role as a safe haven. Traders felt more optimistic after the seemingly positive developments in the trade talks between the United States and China. Relations between the USA and China strained as US President Donald Trump was accusing the Asian nation of mishandling the coronavirus epidemic and withholding information about it, which led … “Japanese Yen Weakest on Forex After US-China Trade Talks”
USD/JPY Heading for the 105.55 Major Support
The US dollar versus the Japanese yen currency pair is approaching the weekly support level of 105.55. How may the market react? Long-term perspective After falling from the 111.70 high, the price extended until the 107.09 level, which served as support almost for the entire length of April. As the market was printing lower highs and the bulls were showing less and less conviction to drive the price higher, the expected outcome happens, as the price pierced … “USD/JPY Heading for the 105.55 Major Support”
Top 3 safe ways to earn money in 2020
You may have seen this kind of article all over the internet recently, so you’re pretty sarcastic about what I’m about to say. But note this, I’m not going to say that the things listed here are the best way to earn money in 2020, what I’m trying to say is the safest way to … “Top 3 safe ways to earn money in 2020”
Turkish Lira Slightly Rebounds After Crashing to Record Low
The Turkish lira is slightly rebounding on Thursday after crashing to a record low against the US dollar early on Thursday. Investors are nervous about Turkeyâs response to the economic fallout from the coronavirus pandemic, as well as the decline in the central bankâs reserves. Could the world bail out Turkey once the COVID-19 crisis subsides? The Turkish economy was already under mounting pressure before the world was shut down due to the virus outbreak. … “Turkish Lira Slightly Rebounds After Crashing to Record Low”