The Great Britain pound versus the Canadian dollar currency pair may establish above the 1.7500 mark. Is this a bullish profile, or are the bears waiting for even better prices? Long-term perspective After the price was not able to maintain the gains above 1.7811, it strongly depreciated, reaching the important support area of 1.6620. However, this area, being packed with bulls, favored a strong appreciation, one that reached … “Could GBP/CAD Retest the 1.7811 Resistance?”
Author: admin_mm
Pound Sidelined As UK COVID-19 Deaths Rise and Boris Self-Isolates
The pound today traded sideways against the US dollar extending its sideways trading range for the third day in a row as investors took a break following its recent massive rally. The GBP/USD currency pair rangebound trading action was also affected by the surge in UK coronavirus deaths as deaths jumped 31% to 563, hitting a cumulative total of 2,352. The GBP/USD currency pair today traded with a range marked by a low of 1.2331 and a high … “Pound Sidelined As UK COVID-19 Deaths Rise and Boris Self-Isolates”
Japanese Yen Strengthens on Better-Than-Expected Data, BoJ Stimulus
The Japanese yen is strengthening against different currency competitors midweek, buoyed by a plethora of economic data and outlooks that came in much better than initially anticipated. With the federal government set to unveil a comprehensive stimulus package to rescue the worldâs third-largest economy from the fallout of the coronavirus pandemic, the yenâs safe-haven appeal may stay intact. According to official state statistics, retail sales jumped 0.6% in February, down from the 1.5% … “Japanese Yen Strengthens on Better-Than-Expected Data, BoJ Stimulus”
Canadian Dollar Slips As Manufacturing PMI Contracts, GDP Slows
The Canadian dollar is slipping against its currency rivals midweek as new data is beginning to highlight how much damage the coronavirus is impacting the Great White North. Manufacturing contracted, the economy already showed signs of slowing down before the COVID-19 crisis, and producer prices slumped â this could be the start of even more negative economic readings in the weeks to come. The IHS Markit manufacturing purchasing managersâ index … “Canadian Dollar Slips As Manufacturing PMI Contracts, GDP Slows”
AUDNZD Heading Towards 1.0361
The Australian dollar versus the New Zealand dollar currency pair is approaching the important weekly level of 1.0361. Long-term perspective After confirming the level of 1.0837, the price started to decline. The first strong pullback occurred around the weekly support of 1.0037. But until here, the pierce passed important areas, such as the weekly support of 1.0361. The reconfirmation of the 1.0037 support — which printed the low of 0.9993 — brought about a rally that conquered the first … “AUDNZD Heading Towards 1.0361”
Euro Falls Against US Dollar Due to Quarterly/End-Month Outflows
The euro today fell against the US dollar earlier in the session and was on track to book a loss for the second straight session as the greenback rebounded. The EUR/USD currency pair sold off amid end of month/quarter outflows in favour of the dollar, which could see the pair close lower for the month. The EUR/USD currency pair today fell from an opening high of 1.1043 to a low of 1.0926 but had recovered most of its losses at the time of writing. Most … “Euro Falls Against US Dollar Due to Quarterly/End-Month Outflows”
Chinese Yuan Jumps on Surprising Manufacturing Growth in March
The Chinese yuan is rallying against many currency competitors on Tuesday as the worldâs second-largest economy surprised global financial markets by reporting manufacturing growth in March. The yuan is also benefiting from additional easing efforts by the Peopleâs Bank of China (PBoC). According to the National Bureau of Statistics (NBS), the manufacturing purchasing managersâ index (PMI) surged from 35.7 in February to 52 in March. This beat market expectations of a 45 reading and is … “Chinese Yuan Jumps on Surprising Manufacturing Growth in March”
AUD/JPY at the 67.03 Resistance
The Australian dollar versus the Japanese Yen currency pair is being given a test by the 67.03 level. Long-term perspective The confirmation of the 76.01 level by the bears started a downwards movement that extended to as low as 59.87. But as the bears overextended, by departing too much and too fast from the important support of 64.12, the bulls saw the opportunity and sent the price back above it. After that, the buyers managed to bring the price to the next resistance area, … “AUD/JPY at the 67.03 Resistance”
Japanese Yen Gains As Abe Prepares for âBoldest-Everâ Stimulus
The Japanese yen is gaining against its biggest currency competitors to kick off the trading week as the nation braces for details surrounding the governmentâs âboldest-everâ stimulus package. Japanâs economic situation had been bearish prior to the coronavirus pandemic, but the outbreak has negatively affected the worldâs third-largest economy. With the Tokyo Olympic Games postponed until the end of July, it is unclear how Japan can avoid slipping into … “Japanese Yen Gains As Abe Prepares for âBoldest-Everâ Stimulus”
Can AUD/USD Recover 0.6313?
The Australian dollar versus the US dollar currency pair seems to be in bullish hands. Are the bears just around the corner? Long-term perspective After the Head and Shoulders with the neckline at the 0.6851 major support level played out, the price depreciated in a very pronounced manner, extending until the level of 0.5511. From there, a retracement equally as strong as the depreciation manifested itself, leading the price above the 0.6015 level. In one scenario, the price could … “Can AUD/USD Recover 0.6313?”