The euro today rallied against the US dollar twice followed by quick retracements despite the upbeat investor risk appetite that boosted risk assets. The EUR/USD currency pair today rallied then gave up all its gains before rallying again as the bulls and bears fought for control amid mixed euro area macro prints. The EUR/USD currency … “Euro Rallies Against Dollar on Elevated Sentiment, Falls Then Rises”
Month: October 2020
US Dollar Weakens As Jobless Claims Slide to Six-Month Low, Consumer Spending Jumps
The US dollar is kicking off October lower as the number of Americans filing for first-time unemployment benefits fell to a six-month low and consumers continued to show some signs of life in August. Still, the greenback is poised for a noteworthy weekly gain against many of its major currency rivals, buoyed by uncertainty in the broader financial markets. According to the Department of Labor, initial jobless claims increased by 837,000 in the week ending September 26, coming in below … “US Dollar Weakens As Jobless Claims Slide to Six-Month Low, Consumer Spending Jumps”
GBP/CAD Peaking at 1.7294?
The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time while attempting to conquer 1.7285. Long-term perspective The appreciation that came into being after the double bottom defined by the 1.6705 and 1.6769 lows, respectively, played its part was limited by the 1.6567 firm resistance area, which encouraged the bears to start a fall that would later stop at the zone of the mentioned lows, printing the 1.6810 … “GBP/CAD Peaking at 1.7294?”