Day: May 6, 2019

May 6
2019

US Dollar Sideways on Renewed Tariffs on China

The US dollar is trading sideways against several major currencies, suggesting that investors are waiting to see the fallout from an announcement that the White House is raising tariffs on $200 billion on Chinese imports by the end of the week. With data light on the calendar in the coming days, traders are focused primarily on geopolitical events surrounding the buck. Recently, President Donald Trump tweeted that the US government would be increasing […]

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May 6
2019

Euro Range-Bound Despite the Release of Upbeat Eurozone Data

The euro today traded in a tight range against the US dollar despite the release of upbeat services PMI data from across the euro area by IHS Markit. The EUR/USD currency pair was weighed down by the risk-off market sentiment triggered by President Donald Trump‘s threat of additional tariffs on Chinese imports over the weekend. The EUR/USD currency pair today traded in a tight range marked by a low of 1.1178 and a high of 1.1203 and was within this […]

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May 6
2019

Possibilities After Confluence Confirmation on AUD/USD

The failure of the Australian dollar versus the US dollar currency pair to gain more ground after the rally to 0.7200 resulted in a drop that sent the price back into the descending channel. But still, the bulls could be more motivated than ever. Long-term perspective The resistance line of the descending channel that can be drawn by uniting the highs of January 31, 2018, and December 4, 2018, was finally pierced on April 8, […]

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