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Day: November 13, 2018
November 132018
Canadian Dollar Struggles to Find Direction Amid Crashing Crude Prices
The Canadian dollar is trading relatively sideways on Tuesday as the price of crude oil crashes. The loonie, which slipped to a four-month low early in the trading day, is attempting to snap its four-session losing streak. Without any major Canadian events, investors may not have an appetite for the currency. On Tuesday, crude oil prices crashed to their lowest levels since the start of December, tumbling more than 6%. The plunge comes as President […]
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November 132018
Euro Rallies Higher on Positive Sentiment Amid Italyâs Defiance
The euro today rallied higher against the US dollar driven by positive market sentiment backed by investors’ expectations of a future US-China trade deal. However, the single currency’s rally was significantly hampered by the ongoing standoff between the EU and Italy regarding its 2019 budget plans. The EUR/USD currency pair today rallied from a low of 1.1219 to a high of 1.1271 in the early American session. The currency pair’s initial rally was largely supported […]
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November 132018
Pound Rallies on Brexit Hopes, Declines on Mixed UK Jobs Data
The British pound today rallied higher and recovered from a 3-day losing streak as investors hoped for a breakthrough in Brexit negotiations. However, the lack of any tangible progress in the Brexit proceedings and the mixed UK jobs report released today stalled the cable’s rally. The GBP/USD currency pair today rallied from an opening low of 1.2850 to a high of 1.2917 before retracing some of its gains. The cable’s rally was initially attributed to the positive comments made […]
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