The Australian versus the United States dollar currency pair seems to have lost its steam. Is that really so, or are the bulls setting up a masterplan? Long-term perspective The appreciation from the 0.5701 low managed to etch the 0.7243 high. In this endeavor, important resistance levels were conquered, including 0.7010, which allowed a strong movement towards 0.7191. However, to be noted is that the supportive trendline has been … “Bulls Able to Take Out 0.7243 Peak on AUD/USD?”
Month: August 2020
Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing
The Canadian dollar pared its weekly gain to close out the trading week, driven primarily by slumping energy prices. But the loonieâs drop was capped by better-than-expected manufacturing data. Still, the Canadian dollar is poised for a significant 1% weekly advance against the US dollar as the currency continues its rebound following an abysmal first half of 2020. According to Statistics Canada, manufacturing sales surged 20.7% in June, up from an 11.6% … “Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing”
Euro Rallies Against the Dollar on In-Line Eurozone Q2 GDP Data
The euro today edged higher against the dollar after an initial slump as investors remained concerned about the political stalemate in the US regarding further stimulus. The EUR/USD currency pair rallied higher as the greenback headed lower and investor sentiment shifted in favour of the riskier single currency, but gains were limited. The EUR/USD currency … “Euro Rallies Against the Dollar on In-Line Eurozone Q2 GDP Data”
US Retail Sales: Last hurrah may risk critical stimulus, prove double-edged sword
US retail sales beat expectations on almost all measures. The data reflects the last month of full coronavirus-related fiscal stimulus. Robust figures may prompt lawmakers to drag their feet, causing a crash moving forward. V-shaped recovery – that is what retail sales figures for July reflect for the US economy, and that was already seen … “US Retail Sales: Last hurrah may risk critical stimulus, prove double-edged sword”
Forex Trading? 5 Tips to Help You Be Successful
To be a successful trader, it takes time, practice and a lot of dedication. You can’t expect to dive in headfirst without any preparation and expect to be successful. Forex trading is no different. Trying out forex trading is an excellent way to diversify your portfolio. Learning the basics, so you understand not only what … “Forex Trading? 5 Tips to Help You Be Successful”
US Dollar Weakens As Initial Jobless Claims Fall Below One Million
The US dollar is weakening against several of its G10 currency counterparts on Thursday after it was reported that the number of Americans fell below one million for the first time since the start of the coronavirus pandemic. The greenback had shown signs of momentum earlier this week, but it has pared most of those gains as the buck is on track to test fresh multi-week lows. Where is the dollar headed? According … “US Dollar Weakens As Initial Jobless Claims Fall Below One Million”
Scandinavian Capital Markets Activates cTrader Copy
STOCKHOLM, August 12 2020 Scandinavian Capital Markets is proud to announce the availability of cTrader copy for their clients. cTrader copy delivers advanced risk management and comprehensive strategy profiles where providers may display their performance and where investors can select their favorites. cTrader copy now replaces cMirror and it can be accessed in the side … “Scandinavian Capital Markets Activates cTrader Copy”
Pound Falls Against US Dollar As UK GDP Contracts 20.4% in Q2
The Sterling pound today fell against the US dollar amid worries that the UK economy was not recovering fast enough following its reopening after the coronavirus lockdowns. The GBP/USD currency pair today headed lower after the UK’s Finance Minister Rishi Sunak said that many people would lose their jobs due to the COVID-19 pandemic. The … “Pound Falls Against US Dollar As UK GDP Contracts 20.4% in Q2”
Euro Rallies on Positive Sentiment, Ignores Upbeat US Inflation Data
The euro today rallied higher against the US dollar driven by the risk-on market sentiment, which saw the dollar lose ground against riskier assets such as the single currency. The EUR/USD currency pair today rallied ignoring weak data from the euro area, and upbeat inflation data from the US as investors bid up the currency … “Euro Rallies on Positive Sentiment, Ignores Upbeat US Inflation Data”
Brazilian Real Crashes on Rate Cuts, Doubts of Economic Recovery
The Brazilian real is sliding in the middle of the trading week as investors are casting doubts on the South American nationâs economic recovery. There have been signs of a recent rebound in business activity, but investors are still cautious about a dovish central bank, a resurgence in COVID-19 cases, and deteriorating relations between the US and China. Its booming commodities sector is one of the few parts of the economy that is keeping Brazil alive. … “Brazilian Real Crashes on Rate Cuts, Doubts of Economic Recovery”