The US dollar is mixed against its G7 currency rivals on Thursday after the US government reported a slightly worse-than-expected jobs report that brought the total number of Americans who lost their jobs to about 22 million. A flurry of other economic data weighed on the greenback and US equities, leaving everyone wondering just how long the coronavirus pandemic will affect the world’s largest economy. According to the Department of Labor, initial … “US Dollar Mixed As 22 Million Americans Lose Jobs in Four Weeks”
Author: admin_mm
Bulls on USD/JPY Not Confident Enough
The US dollar versus the Japanese yen currency pair seems to be willing to go towards the north. However, something keeps the bulls from making their next move. Long-term perspective The depreciation that started from the peak of 111.70 and after the 111.07 level was confirmed as resistance extended to just a little above to the 106.79 support level. From there, the bulls tried to regain 108.85, but their endeavor ended with another … “Bulls on USD/JPY Not Confident Enough”
Australian Dollar Falls, Ignoring Shockingly Good Employment Data, but Rebounds Later
The Australian dollar fell today, largely ignoring the shockingly good employment report. While the currency spiked immediately after the release, it retreated almost immediately. By now, though, the Aussie has managed to trim losses and even trades flat against a number of most-traded peers. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed people increased by 5,900 in March. Experts totally missed the mark with their forecasts of a big … “Australian Dollar Falls, Ignoring Shockingly Good Employment Data, but Rebounds Later”
Pound Falls Amid Speculation That COVID-19 Deaths Are Much Higher
The Sterling pound today fell against the much stronger US dollar amid fears that the global economy was sliding into a significant recession due to the coronavirus pandemic. The GBP/USD currency pair recouped some of its losses in the American session as the greenback gave up some of its gains, allowing riskier currencies to post … “Pound Falls Amid Speculation That COVID-19 Deaths Are Much Higher”
Canadian Dollar Plunges As GDP Contracts 9% in March, BoC Unveils New QE
The Canadian dollar hit the pause button on its recent rally after the federal government released its gross domestic product (GDP) reading early for the first time ever. The loonie is slumping on news that economic activity suffered the biggest monthly decline in history. With falling energy prices and accommodating central bank, it could be a downward trend for the Canadian dollar in the near-term. According to Statistics Canadaâs flash reading, the economy … “Canadian Dollar Plunges As GDP Contracts 9% in March, BoC Unveils New QE”
US Dollar Surges Despite Crashing Retail Sales, Industrial Output
The US dollar is surging against its G7 currency rivals, despite a plethora of disastrous economic reports. With global financial markets deep in the red midweek over concerns of the coronavirus pandemic, investors are pouring into the greenback for shelter. Could the US economy reverse these losses if the nation reopens next month? Or will the country endure a second wave and erase any potential gains? According to the Census Bureau, retail … “US Dollar Surges Despite Crashing Retail Sales, Industrial Output”
Australian Consumer Sentiment Collapses, Aussie Reverses Gains
The Australian dollar declined against all other most-traded currencies today, including its riskier commodity-related counterparts. The possible reasons for the decline were the worsening market sentiment and bad domestic macroeconomic data. The Aussie was rising yesterday but halted its rally shortly after Wednesday’s Asian session started. After trading sideways for a short while, the currency started to move lower. While it does not look that the extremely … “Australian Consumer Sentiment Collapses, Aussie Reverses Gains”
GBP/CAD Continues Aiming for 1.7811
The Great Britain pound versus the Canadian dollar currency pair does seem that it is hard to sell. Long-term perspective The appreciation from the 1.6620 level extended to the resistance area defined by the 1.7811 resistance level. The price then head towards the, now, triple support area made possible by the 1.7160 level, the ascending trendline, and the upper line of the descending channel, respectively. After the confirmation, the price had some trouble passing … “GBP/CAD Continues Aiming for 1.7811”
Euro Rallies as Some EU Countries Reopen Businesses and Schools
The euro today rallied higher against the US dollar as some European countries announced new measures to ease some of the restrictions put in place to fight the coronavirus. The EUR/USD currency pair reversed yesterday’s downtrend and rallied higher today driven by investor optimism about a return to normalcy across the eurozone. The currency pair rallied from a low of 1.0915 in the early European session to a high of 1.0983 in the American session but was off these highs … “Euro Rallies as Some EU Countries Reopen Businesses and Schools”
Chinese Yuan Flat As Imports, Exports Beat Bearish Estimates
The Chinese yuan is flat on Tuesday after new trade data came in better than what the experts had projected. A couple of economic reports from China are highlighting that the situation is not as grim as what many investors first thought. Is the economic fallout from the coronavirus pandemic proving to be a case of hope for the best and expect the worst? Last month, imports fell 0.9% year-on-year to $165.25 billion, led … “Chinese Yuan Flat As Imports, Exports Beat Bearish Estimates”