The Great Britain pound versus the Canadian dollar seems to be a little undecided. Long-term perspective After confirming the important 1.6620 level, the price extended until the long-time resistance area of 1.7811. In doing so, it also pierced the intermediary level of 1.7499. But when meeting the resistance of 1.7811, the price retreated, falling around the triple support area defined by the two trendlines and the 1.7160 level. From the triple support, the bulls attempted, yet … “GBP/CAD, Retesting the 1.7500 Level?”
Euro Falls Against Strong Dollar Amid Rising Global Tensions
The euro today fell against the much stronger US dollar as tensions between China and the US skyrocketed, causing investors to seek refuge in safe-haven assets. The EUR/USD currency pair due to the prevailing risk-off market sentiment in the financial markets that saw European equity markets close lower for the day. The EUR/USD currency pair … “Euro Falls Against Strong Dollar Amid Rising Global Tensions”
Japanese Yen Holds Steady As Abe Extends State of Emergency
The Japanese yen is holding steady against its most traded currency rivals to start the week. After disappointing economic data and expanded monetary stimulus announcements last week, the yen is being largely driven by the governmentâs decision to extend the state of emergency for the rest of May. While Tokyo is bracing for a severe downturn, the tsunami of coronavirus cases has yet to occur. On Monday, Prime Minister Shinzo Abe extended the nationwide state … “Japanese Yen Holds Steady As Abe Extends State of Emergency”
AUD/USD Has to Decide from 0.6500
The Australian dollar versus the US dollar currency pair is in a moment in which it has to decide where to go. Long-term perspective The appreciation from the 0.5517 support peaked at the 0.6572 high. By doing so, the swing that starts from 0.6250 extended and oscillated above the 0.6500 psychological level. However, the price quickly ebbed under the 0.6500 level. By doing so, the bears are sending the message that they are willing to join … “AUD/USD Has to Decide from 0.6500”
Chinese Yuan Slides to One-Month Low on Manufacturing, Trump Trade Threats
The Chinese yuan fell to a one-month low against the US dollar to close out the trading week, driven mostly by sluggish manufacturing and renewed trade threats by the White House. Now that China has hit the reboot button on the economy, could Beijing contend with another trade spat with the US? Chinaâs manufacturing industry has been the hardest hit in the domestic market due to slowing export demand. Despite factories resuming production … “Chinese Yuan Slides to One-Month Low on Manufacturing, Trump Trade Threats”
AUD/USD : Defeating coronavirus may be insuficient, RBA, NFP eyed
AUD/USD has been extending its uptrend as Australia is winning against coronavirus. The RBA decision, US Non-Farm Payrolls, and the next steps regarding lockdowns are eyed. Early May’s daily chart is showing an uptrend channel. The FX Poll points to falls in the medium and long-terms. The Aussie has continued flying like a rugby ball – … “AUD/USD : Defeating coronavirus may be insuficient, RBA, NFP eyed”
GBP/USD: Ongoing UK lockdown, BOE, and NFP to determine next moves
GBP/USD has been rising amid dollar weakness and PM Johnson’s return. The next move in the UK lockdown, the BOE’s decision, and US Non-Farm Payrolls stand out. Early May’s daily chart is pointing to gains. The FX Poll is pointing to lower targets in all timeframes. Pound/dollar has moved higher in a week that saw … “GBP/USD: Ongoing UK lockdown, BOE, and NFP to determine next moves”
Euro Rallies Despite Gloomy News From Across the Euro Area
The euro today rallied higher against the US dollar despite the mostly negative news coming out of the eurozone earlier today amid empty economic dockets. The EUR/USD currency pair inched higher as European countries moved closer to reopening their economies despite the significant risk of a second wave of COVID-19 infections. The EUR/USD currency pair … “Euro Rallies Despite Gloomy News From Across the Euro Area”
The Bears Try to Confirm 107.05 on USD/JPY
The US dollar versus the Japanese yen currency pair seems to be willing to continue the decline. Do the bulls still have any options left? Long-term perspective The decline that started from the high of 111.70 found support at 107.05, which is the technical correspondent of the 107.00 psychological level. From there, an appreciation commenced, but it did not manage to conquer the 108.85 level, thus, confirming it as a resistance. This lead … “The Bears Try to Confirm 107.05 on USD/JPY”
Great Britain Pound Soft After Economic Data, PM Statement
The Great Britain pound rallied against the very weak commodity currencies but fell against majors today. The sterling was under pressure from extremely poor domestic macroeconomic data and Brexit worries but had some support from hopes for an end of the quarantine period. The Nationwide House Price Index rose 0.7% in April on a seasonally adjusted basis. The positive result surprised experts as they were counting on a drop of 0.3%. Furthermore, … “Great Britain Pound Soft After Economic Data, PM Statement”