The Australian dollar versus the US dollar currency pair, although it may be still receiving some bullish support, seems to be in bearish hands. Long-term perspective The decline that followed the head and shoulders pattern — shoulders market by the peaks of 0.6938 and 0.6933, respectively — reached the area of the 0.6700 psychological level. From there, after bottoming at 0.6678, the price climbed at 0.6774. Further appreciation was halted as the price confirmed the area corresponding … “AUD/USD Might Be Ready for 0.6500”
Author: admin_mm
Canadian Dollar Falls on Weak Oil Prices, Despite Upbeat Jobs Report
The Canadian dollar today fell against the US dollar following the release of mixed Canadian jobs data and the upbeat US non-farm payrolls report. The USD/CAD currency pair’s rally was also fueled by the decline in global crude oil prices, which dragged the commodity-linked loonie lower. The USD/CAD currency pair today spiked to a daily low of … “Canadian Dollar Falls on Weak Oil Prices, Despite Upbeat Jobs Report”
US Dollar Jumps on Strong January Jobs Report
The US dollar is soaring against many major currency rivals to close out the trading week, driven by a better-than-expected January jobs report. This comes as the US economy enjoyed a plethora of positive numbers this week that have made investors question if the slowdown is as prevalent as analysts say it is. According to the Bureau of Labor Statistics (BLS), the US economy added 225,000 jobs in January, up from an upwardly … “US Dollar Jumps on Strong January Jobs Report”
Euro Hits New 2020 Lows on Mixed German Data, Ahead of US NFP
The euro today fell to new 2020 lows against the US dollar in the early European session following the release fo mixed data from the German docket. The EUR/USD currency pair fell through significant support levels to hit a 4-month low driven by a risk-averse market environment ahead of the crucial US non-farm payrolls report. … “Euro Hits New 2020 Lows on Mixed German Data, Ahead of US NFP”
USDJPY Rally Challenged by the 110.00 Level
The US dollar versus the Japanese yen currency pair may have extended a little too much in a very short timespan. Long-term perspective After confirming the 108.13 level via the false break that impressed the low at 107.65, the price appreciated until the 110.29 resistance level. From there, a depreciation that extended until 108.31 came into play, thus printing a higher low with respect to the previous one, 107.65, respectively. … “USDJPY Rally Challenged by the 110.00 Level”
Pound Falls to New 2020 Lows as the Dollar Hits Multi-Month Highs
The Sterling pound today edged lower against the US dollar for the second consecutive session as investors remained worried about a hard Brexit. The GBP/USD currency pair fell amid a lack of significant releases from the UK docket and was fueled by the much stronger greenback. The GBP/USD currency pair today fell from a high … “Pound Falls to New 2020 Lows as the Dollar Hits Multi-Month Highs”
US Dollar Gains After Positive Economic Reports
The US dollar rallied today following better-than-expected macroeconomic releases in the United States. Now, traders wait for tomorrow’s nonfarm payrolls. The major piece of news today was the tariff cut by China on $75 billion worth of US goods. Tariffs of 10% on some goods will be reduced to 5%, and 5% tariffs will be reduced to 2.5%. The retaliatory tariffs, implemented in response to the similar levies slapped by the United States on Chinese imports, were … “US Dollar Gains After Positive Economic Reports”
Czech Koruna Rallies After Interest Rate Hike
The Czech koruna rallied today after the nation’s central bank surprised markets, raising interest rates despite the threat of a global economic slowdown. Currently, the currency has backed off from the day’s highs but is still trading above the opening level. The Czech National Bank boosted its benchmark interest rate by a quarter of a percentage point to 2.25%. Other interest rates were lifted as well. The decision surprised market participants. … “Czech Koruna Rallies After Interest Rate Hike”
Chinese Yuan Rebounds on Expected Stimulus, Cut in Tariffs
The Chinese yuan is rebounding on Thursday as reports suggest that the central bank will unleash additional stimulus to contain the Wuhan coronavirusâ impact on the worldâs second-largest economy. While the death toll and number of confirmed cases have risen in China, global financial markets believe that the outbreak is waning. These reports come as Beijing is set to cut tariffs on US goods and report crucial trade data on Friday. According to Reuters, … “Chinese Yuan Rebounds on Expected Stimulus, Cut in Tariffs”
Euro Flat-to-Higher Despite Slump of German Manufacturing Orders
The euro was flat today and even gained on some of its rivals despite the slump of German manufacturing orders. The likely reason for the decent performance was the positive market sentiment. The Federal Statistical Office reported the German manufacturing orders dropped by 2.1% in December from the previous month. The actual reading was far worse than an increase of 0.6% predicted by analysts. On a more positive note, the previous month’s decline got a revision from 1.3% … “Euro Flat-to-Higher Despite Slump of German Manufacturing Orders”