The Australian dollar versus the US dollar currency pair seems to have some trouble heading towards the north. Is this a sign of a bearish comeback? Long-term perspective The appreciation that started from the 0.7501 low, after the level of 0.5516 was validated as support, managed to pass the important resistance area defined by the level of 0.6386 and the descending trendline. This aided the extension of the appreciation until the 0.7041 high. However, even if the ascending trendline … “Bulls Out of Steam from 0.7010 on AUD/USD?”
Author: admin_mm
Euro Rallies on New of Potential COVID-19 Cure, Positive Sentiment
The euro today rallied higher against the US dollar on news of a possible cure for the novel coronavirus, which saw investors bid up riskier assets such as the single currency. The EUR/USD currency pair was also boosted by investor optimism regarding the outcome of the ongoing recovery talks between finance ministers from the European … “Euro Rallies on New of Potential COVID-19 Cure, Positive Sentiment”
USD/CNY Climbs Back Above 7 As Trump Reveals US-China Trade Deal Not a Priority
The Chinese yuan is holding steady at the end of the trading week, despite President Donald Trump revealing that the second phase of a US-China trade agreement is no longer a top priority. The president told reporters aboard the Air Force One that the relationship between the worldâs two largest economies is âseverely damagedâ after the coronavirus pandemic. The yuan climbed back above the key 7 threshold after his comments, but … “USD/CNY Climbs Back Above 7 As Trump Reveals US-China Trade Deal Not a Priority”
Canadian Dollar Fails to Garner Momentum on Stellar Jobs Report, Rising Energy Prices
The Canadian dollar is failing to garner momentum at the end of the trading week, despite a stellar jobs report and rising energy prices. The loonie has rebounded substantially since the market meltdown in March, driven primarily by greater confidence in global financial markets and rallying crude oil prices. Analysts are optimistic of a strong second half for the Canadian dollar, so could it happen? According to Statistics Canada, the economy added 953,000 new jobs … “Canadian Dollar Fails to Garner Momentum on Stellar Jobs Report, Rising Energy Prices”
USD/JPY Falls Beyond 107.00 Handle
The US dollar versus the Japanese yen currency pair seems to have been taken over by the bears, as the price slipped beneath the 107.00 psychological level. Do the bulls still have any chances? Long-term perspective The fall from the 109.85 high went thru the intermediary level of 108.05 but got halted by the firm 107.00 support area. The bulls seized the opportunity and confirmed the level as support, but to no avail, as the bears turned the market … “USD/JPY Falls Beyond 107.00 Handle”
China is rooting for Trump, five reasons and market implications
President Donald Trump has been clashing with China throughout his presidency. Beijing would prefer the maneuverable incumbent over his rival. Several Asian currencies may fall if Trump wins and China has a free hand. “Kong flu” is President Donald Trump’s racist phrase to put accuse China of coronavirus. The president that vowed “only I can … “China is rooting for Trump, five reasons and market implications”
US Dollar Weakens As Initial Jobless Claims Fall to Four-Month Low
The US dollar is trading slightly lower against a myriad of G10 currency rivals on Thursday after the US government reported that the number of Americans filing for first-time unemployment benefits beat market forecasts. The greenback has been struggling in recent sessions as investors become more confident in the broader financial market and pour into riskier bets, despite the resurgence of confirmed coronavirus cases in the background. According to the Department of Labor, initial jobless claims … “US Dollar Weakens As Initial Jobless Claims Fall to Four-Month Low”
Bulls Testing the Descending Trendline on GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair seems to have been favored by the double bottom formation, spawning an appreciation that allows the bulls to test the trendline for weak points. Long-term perspective After the level of 1.7567 proved to be an unmountable resistance, the price began a very convinced descending movement. This brought the price under the ascending trendline and close to the major support level of 1.6724. From this area, the bulls got … “Bulls Testing the Descending Trendline on GBP/CAD?”
Pound Rallies Against Weak Dollar on New £30 Billion Stimulus Plan
The pound today rallied higher against the US dollar, driven by positive investor sentiment and the weakening of the greenback against most of its peers. The GBP/USD currency pair today rallied to new highs as investor risk appetite soared buoyed by the government’s new fiscal stimulus plan. The GBP/USD currency pair today rallied from a … “Pound Rallies Against Weak Dollar on New £30 Billion Stimulus Plan”
Turkish Lira Weakens to Two-Month Low As Investors Fear Another Currency Crisis
The Turkish lira is slumping to its lowest level against the US dollar in two months as investors fear that it is poised for another currency crisis. The lira has been steadily rebounding since falling to an all-time low against the greenback, but analysts warn that the fundamentals, from inflation to foreign exchange reserves, do not support its gains. Is another crash going to happen soon? The Turkish government … “Turkish Lira Weakens to Two-Month Low As Investors Fear Another Currency Crisis”