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Day: July 29, 2019
July 292019
Chinese Yuan Weakens As Trade Talk Hopes Fade
The Chinese yuan is weakening against several major currency rivals to kick off the trading week, driven by investors not expecting much to come out of the renewed US-China trade negotiations this week. Tradersâ hopes were dashed after one prominent White House official conceded he âwouldnât expect any grand dealâ as the worldâs two largest economies hold talks. Larry Kudlow, the director of the National Economic Council, […]
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July 292019
Sterling Suffers from Rising Chances of No-Deal Brexit
The Great Britain pound slumped against all other most-traded currencies today amid concerns that chances for a no-deal Brexit increase. And a hard Brexit can deal a serious blow to Britain’s economy. The currency was trading at the lowest level in about two years. An official spokesman of Britain’s Prime Minister Boris Johnson said that the PM will not meet leaders of the European Union to discuss a trade deal until they drop […]
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July 292019
AUD/CAD Looking for 0.9000
The Australian dollar versus the Canadian dollar currency pair is under bearish dominance and the support of the 0.9100 psychological level seems to give way. Long-term perspective From the 0.9614 high the price entered a descending move which confirmed rigorously key resistance areas — like 0.9483, 0.9387, and 0.9225. In such a bearish driven environment the last support, 0.9104, seems to have little to do in order to withstand the downwards pressure. If the previous low […]
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July 292019
Japanese Yen Mixed as Traders Wait for Fed, Other Events
The Japanese yen was mixed today amid mild risk aversion on the Forex market. Traders were reluctant to open new positions at the start of the week full of important events. There will be many important macroeconomic releases this week, including US nonfarm payrolls. But the highlight of the week should be the monetary policy meeting of the Federal Reserve, which is expected to result in an interest rate cut. Market participants will […]
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