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Day: April 29, 2019
April 292019
Chinese Yuan Weakens As Industrial Profits Soar
The Chinese yuan traded broadly to kick off the trading week as the worldâs second-largest economy finally received some positive economic news after more than a year of downbeat data and sentiment. Is China on the cusp of turning it around and kickstarting the economy? In March, Chinaâs industrial companies recorded their biggest profits in eight months. According to the National Bureau of Statistics, industrial profits climbed by 13.9% year on year last month to $87.5 […]
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April 292019
Euro Drops on Weak Business Climate, Gains on Mixed US Inflation
The euro today posted gains against the US dollar following the release of weak US inflation data in the early American session. The EUR/USD currency pair today fell from session highs following the release of weak eurozone business climate data in the early European session. The EUR/USD currency pair today traded mostly in a range marked by a high of 1.1167 and a low of 1.1143 and was trading at the top of this range at the time of writing. The currency pair […]
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April 292019
CAD/JPY Consolidating Just Above 82.71
The Canadian dollar versus the Japanese yen dropped from 83.81 after a failed attempt to confirm the level as a support. Long-term perspective Unfortunately for the advancement that began at the solid support area of 81.38, there were at least two signs that the bears would drive the price lower: the hanging-man on April 14, 2019, and the bearish engulfing on April 23, 2019. The price now paused its decline just above the intermediary level 82.71, this […]
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