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Day: August 12, 2019
August 122019
Japanese Yen Strengthens Despite Businesses Bearish on Economy
The Japanese yen is posting modest gains against most-traded currency rivals to start the trading week, despite various negative reports regarding the worldâs third-largest economy. The latest research shows that the private sector is anticipating the economy to be flat or slip into a recession. With the US-China trade war lingering in the background and Tokyo set to be engaged in trade talks with Washington, economic growth is being threatened, and the central […]
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August 122019
Euro Falls Then Rallies as US Dollar Tanks on Trade Tensions
The euro today fell to new daily lows against the US dollar early in the European session in a knee-jerk move that was likely driven by algorithmic trading. The EUR/USD currency pair later rose from its lows as the single currency rallied against the greenback, which remained on the back foot due to the devalued yuan. The EUR/USD currency pair today fell to a low of 1.1162 before rising to its daily highs of 1.1230 then retracing […]
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August 122019
AUD/USD Correcting from 0.6676
The Australian dollar versus the US dollar currency pair made a new low at 0.6676 and then retraced strongly. Would this low lead to a strong rally or it is just a pause of the descending movement? Long-term perspective The downwards movement that began after confirming the double resistance marked by the upper line of the descending channel and the resistance area of 0.7055 and 0.7013 almost touched the lower boundary of the descending channel. This renders the wave as a full-fledged […]
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August 122019
EUR/USD Starts Week with Gains
EUR/USD started the week with gains. Monday’s session was quiet, without major events, and markets were driven largely by persisting concerns about the US-China trade conflict. Treasury budget widened to $119.7 billion in July from $8.5 billion in June, matching forecasts. (Event A on the chart.) On Friday, a report on PPI was released, showing an increase of 0.2% in July, matching market expectations. The index rose 0.1% the month before. (Not shown […]
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