The Australian dollar versus the Canadian dollar currency pair turned around from its initial path towards the 0.9300 level. Are the bulls only recharging or did they allow a bearish victory? Long-term perspective After printing the low of 0.8835, the price appreciated and exited from the descending channel, but it was limited by the resistance of 0.9093. The bullish attempts were put on hold every time, but the resulting depreciations were finding … “AUD/CAD Could Revisit the 0.9010 Area”
Author: admin_mm
Chinese Yuan Mixed As PBoC Cuts Reserve Requirements to Boost Economy
The Chinese yuan is mixed on Thursday as the central bank announced that it is cutting amounts of deposits that commercial institutions are mandated to hold as reserves. This comes soon after new data found the nationâs manufacturing activity remained in expansionary territory, which is positive news for a nation that is trying to achieve better growth than what it has recorded over the last two years. On Wednesday, … “Chinese Yuan Mixed As PBoC Cuts Reserve Requirements to Boost Economy”
US 2020 Presidential Elections: Three scenarios for the dollar and stocks
US presidential race will loom over US-dollar and stock-market trading during the whole year. There are three main potential outcomes for USD and stock markets. Market sentiment will shift depending on who the Democrats elect to face Donald Trump in November’s election. Former VP Joe Biden and youngin Pete Buttigieg are seen as business-friendly candidates. Left-wingers Bernie Sanders … “US 2020 Presidential Elections: Three scenarios for the dollar and stocks”
Euro Falls Against the Strong Dollar Despite Upbeat Eurozone PMIs
The euro today fell against the US dollar on the first trading day of 2020 as the greenback started the year on a strong footing and rallied higher. The EUR/USD currency pair today fell from the multi-month highs hit on December 31st despite the release of mostly upbeat euro area PMI reports by Markit Economics. The EUR/USD currency pair today fell from an opening high of 1.1222 to a low of 1.1170 … “Euro Falls Against the Strong Dollar Despite Upbeat Eurozone PMIs”
Bulls on GBP/AUD Might Try to Recover 1.0953
The Great Britain pound versus the Australian dollar currency pair is in a spot that just might favor the bulls if they know how and when to act. Long-term perspective The ascending movement that started after the confirmation of 1.7634 as support crystallized the last peak at 1.9522. Being a brief development, it resulted in a false break of the 1.9470 resistance, which in turn was seen by the bears as their chance to drive the price lower. They … “Bulls on GBP/AUD Might Try to Recover 1.0953”
Chinese Yuan Finishes 2019 Stronger, Still Records Annual Loss
The Chinese yuan is gaining on some of its major currency rivals to finish 2019, but the currency will still end the year lower. The yuan suffered some steep losses throughout the year, though it has rebounded in recent months because the trade dispute with the US is subsiding and slightly better economic data. The yuanâs performance in 2020 will be closely watched by observers as it might impact American negotiations … “Chinese Yuan Finishes 2019 Stronger, Still Records Annual Loss”
Sterling Pound Rallies to 2-Week Highs on New Yearâs Eve
The Sterling pound today rallied to 2-week highs against the US dollar on the last trading day of 2019 as investors bid up the pound and sold the greenback. The GBP/USD currency pair rallied higher despite threats from the European Union that the December 2020 deadline is inadequate to complete negotiations with the UK. The GBP/USD currency pair today rallied from a low of 1.3105 in the … “Sterling Pound Rallies to 2-Week Highs on New Yearâs Eve”
AUD/NZD Postponing Its Advancement to 1.0530
The Australian dollar versus the New Zealand dollar currency pair is having a hard time in its efforts to conquer higher prices. Long-term perspective The depreciation that started from 1.0865, after the price falsely pierced 1.0837, reached the weekly support of 1.0361. On December 11, the bulls pulled off a strong retracement that extended midway of the path from 1.0361 to 1.0530. But very soon, the bears managed to invalidate that appreciation … “AUD/NZD Postponing Its Advancement to 1.0530”
US Dollar Slides Despite Bullish Data in Final Stretch of 2019
The US dollar is slipping against multiple publicly-traded currency rivals to kick off the holiday-shortened trading week and wind down 2019. The buck, which has pared most of its gains this year, failed to take advantage of the myriad of bullish economic data on Monday, creating a cause for concern that the dollar will start 2020 weaker. According to the US Census Bureau, the goods trade deficit narrowed in November for the third consecutive month, … “US Dollar Slides Despite Bullish Data in Final Stretch of 2019”
Euro Rallies to 5-Month Highs on US-China Trade Headlines
The euro today rallied against the US dollar extending Friday’s gains as the greenback struggled to keep up with its global peers given the elevated market risk appetite. The EUR/USD currency pair rallied to new multi-month highs setting the single currency on track to finish the year strongly boosted by the positive US-China trade headlines. The EUR/USD currency pair today rallied to a 5-month … “Euro Rallies to 5-Month Highs on US-China Trade Headlines”