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Day: May 24, 2019
May 242019
Pound Falls As Theresa May Set to Resign on June 7, Later Recovers
The British pound today fell from daily highs after the British Prime Minister Theresa May announced that she would step down on June 7 from her post as party leader. Her decision took investors by surprise given that she had stood her ground before in the face of fierce opposition from within her party and the opposition for a long time. The GBP/USD currency pair today fell from […]
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May 242019
US Dollar Strengthens on Initial Jobless Claims, Fed Minutes
The US dollar is strengthening against a few currencies at the end of the trading week, buoyed by another decline in initial jobless claims and a central bank that is unlikely to do anything on interest rates. But disappointing housing numbers put a cap on the buckâs ascent. According to the Bureau of Labor Statistics (BLS), the number of Americans filing for unemployment benefits tumbled by 1,000 to 211,000 in May. This is down from the previous weekâs 212,000 and it […]
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May 242019
AUD/USD at the Important 0.6858 Historical Level
The Australian dollar versus the US dollar currency pair consolidates just above the major support represented by 0.6858. So, what will happen here decides the fate of the pair for quite some while from now on. Long-term perspective The price is contained in the descending channel that started on January 2018, and the last depreciation brought the price at 0.6858. The importance of this level is backed by two factors. The first one is that […]
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