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Day: May 20, 2019
May 202019
Surprising Growth of Japanese GDP Doesn’t Help Yen
The performance of the Japanese yen was not impressive today despite a surprisingly good report about Japan’s economic growth. The currency fell versus the Swiss franc and was about flat against most other major rivals. Japan’s gross domestic product rose 0.5% in the first quarter of this year from the previous three months. That is compared to the forecast decline by 0.1%. Yet diving deeper into the report reveals that […]
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May 202019
Australian Dollar Fails to Keep Rally Caused by Election Surprise
The Australian dollar opened sharply higher on Monday after the unexpected outcome of the election held over the weekend. But analysts were unconvinced by the rally, and indeed the Aussie has trimmed its gains by now, losing them outright against many rivals. While not all the votes have been counted yet, it seems that the conservative coalition led by Australian Prime Minister Scott Morrison won the Australian federal election. Furthermore, […]
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May 202019
Euro Rises Despite Trade Jitters As the Dollar Falls on Weak US Data
The euro today rallied higher against the US dollar in the European and American sessions reversing five consecutive losing sessions to trade slightly higher. The EUR/USD currency pair today reversed Asian session losses and rallied higher boosted by positive German data and the greenback’s weakness after hitting a key resistance zone. The EUR/USD currency pair today rallied from a low of 1.1148 in the Asian session to a high of 1.1175 in the American session and was near […]
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May 202019
AUD/CAD at the Major Support of 0.9222
The Australian dollar versus the Canadian dollar currency pair declined sharply and the first signs of slowing down occurred only around the 0.9222 support level. Long-term perspective The price started an ascending move from the 0.9315 low on March 1, 2019, that was stalled by the resistance at 0.9583. From there the price descended and tried to confirm 0.9483 as support, but it did not manage to and pierced the support trendline of the ascending channel. One […]
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