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Day: June 3, 2019
June 32019
Euro Rallies on Weak US Manufacturing Data and Inverted US Yields
The euro today rallied against the US dollar following the release of disappointing US manufacturing PMI in the American session. The EUR/USD currency pair kept up it bullish momentum from Friday as markets remained worried about the inverted US yield curves and the possibility of a Fed rate cut. The EUR/USD currency pair today rallied from a low of 1.1159 in the early European session to a high of 1.1244 in the American session and was near these highs […]
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June 32019
US Dollar Mixed on Weak Data, Recession Fears
The US dollar is mixed to kick off the trading week as investors comb through disappointing economic data amid fears of a global recession. As the trade strife escalates after higher US tariffs on Chinese and Mexican goods, markets are worried that this could lead to additional cooling in the sluggish global economy. US manufacturing activity slumped last month as the Institute for Supply Management (ISM)âs manufacturing index declined to 52.1 in May, […]
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June 32019
Support Level of 108.00 on USD/JPY Might Give Way
The descent on the US dollar versus the Japanese yen reached the important target of 108.12, a level that represents a weekly support area. But certain factors point to the fact that, this time, the support might would not hold its ground. Long-term perspective After the confirmation of the 112.20 resistance area, on April 25, 2019, the price began a steep decent, that stopped at 108.90, throwed-back to confirm 110.27 as resistance, and continued downwards to pierce […]
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June 32019
EUR/USD Gains as US Manufacturing Growth Slows
EUR/USD rallied today as all of US macroeconomic indicators released during the trading session were disappointing. That includes the manufacturing indices, which dropped, though remained in the expansionary territory. Speculations that the Federal Reserve may cut interest rates also bolstered the currency pair. Seasonally adjusted Markit manufacturing PMI dropped to 50.5 in May from 52.6 in April according to the final estimate. That is compared to the preliminary estimate of 50.6 […]
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