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”
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”
ActivTrades Revenue Set to Go Up to Record High in H1 of 2020
We’re almost halfway through the year 2020, and Forex broker ActivTrades is set to be welcoming the second half on a good note after it announced that it has recorded a revenue of £30 million in the first half. This was almost three times the revenue the company recorded in the first half of 2019 … “ActivTrades Revenue Set to Go Up to Record High in H1 of 2020”
How Traders Can Make Use of the Equidistant Channel Drawing Tool?
Trading platforms offer dozens of tools for traders to analyze the charts and consequently conduct a more thorough analysis. The Equidistant channel is one of such tools which can be very handy with working with charts. The channel itself is formed by two parallel lines that maintain the same distance between them. Traders use this … “How Traders Can Make Use of the Equidistant Channel Drawing Tool?”
AUD/NZD Getting Closer to 1.0551
The Australian dollar versus the New Zealand dollar currency pair is approaching an important support area. Will the bulls be able to withstand the bearish pressure? Long-term perspective The appreciation that started from the 0.9991 low seems to have ended at the 1.0880 high, as the price confirmed the important resistance level of 1.0826. The confirmation sent the price under the next major support area, 1.0707. Once there, the bears took the opportunity to drive the price … “AUD/NZD Getting Closer to 1.0551”