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Day: July 26, 2019
July 262019
Pound Hits Multi-Year Lows on Brexit Clash Between the UK and EU
The Sterling pound today fell against the US dollar as UK and European Union leaders exchanged words regarding the reopening of Brexit talks. The GBP/USD currency pair was on a losing trend from most of today’s session as markets reacted to the heightened possibility of a no-deal Brexit. The GBP/USD currency pair today fell from an opening high of 1.2459 to a low of 1.2376, a level last seen in Apri 2017, and was near these levels at the time fo […]
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July 262019
US Dollar Rallies on Better-Than-Expected Q2 GDP
The US dollar is rallying against a basket of currencies to close out the trading week, driven by a better-than-expected but slower than usual second-quarter economic report. The gross domestic product cooled down in the April-to-June period, but there were some bright spots in the overall report, including a surge in consumer spending. According to the Bureau of Economic Analysis (BEA), the gross domestic product advanced a 2.1% annual clip in the second quarter, down from […]
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July 262019
USD/JPY Might Change Course to 110.27
The US dollar versus the Japanese yen currency pair seems to be left out of the bearish interest, as the price went above the important 108.00 support. Long-term perspective After reconfirming the important 112.20 resistance, the price entered in a bearish driven movement that brought the price under 108.12, a major support. As it retraced to confirm 108.12 as resistance, the bulls took action and dragged the price above the support area. The bears saw this as a new […]
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