Day: October 7, 2019

October 7
2019

Euro Falls on Weak German Factory Data, Rallies Despite Trade Fears

The euro today fell against the US dollar following the release of disappointing German factory orders data in the early European session. The EUR/USD currency pair later rallied as the US dollar fell on fears that the Fed would announce more aggressive easing methods at its next meeting. The EUR/USD currency pair today fell to a low of 1.0962 in the early European session before rallying to a high of 1.1000 then dropping back as it failed […]

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October 7
2019

Great Britain Pound Has Muted Reaction to Court Ruling

The Great Britain pound opened sharply lower today, though by now the currency has trimmed losses against most of its rivals. The main negative factor for the sterling remains the Brexit drama, though Monday’s macroeconomic data was also unfavorable to the currency. The major piece of news from Great Britain today was the ruling of the Scottish court that there is no reason to legally force the British government to seek a Brexit delay […]

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October 7
2019

AUD Starts Week Soft on Construction Data, Trade Talks Worries

The Australian dollar declined against most other major currencies today. Both domestic macroeconomic data and the general risk-off market sentiment were dragging the currency down. The risk sentiment suffered due to renewed concerns about the Sino-US trade talks. The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index dropped to 42.6 in September from 44.6 in the previous month on a seasonally adjusted basis. A fall of the index while being below […]

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October 7
2019

Chinese Yuan Rises Ahead of Renewed US-China Trade Talks

The Chinese yuan is rising ahead of several currency pairs as the world’s second-largest economy prepares to restart trade negotiations with the US. Before even beginning the talks, it is being reported that Beijing is becoming hesitant to reach a broad trade agreement. Chinese officials reportedly do not want to cave to Washington’s chief demands, meaning that the discussions might endure a premature end. Citing sources close to the situation, […]

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October 7
2019

GBP/CAD at the 1.6413 Sweet Spot

The Great Britain pound versus the Canadian dollar currency pair seems to have confirmed some relevant areas and as a consequence is about to begin a convinced movement. Long-term perspective After the last bullish attempt around the long-time resistance area, the price topped at 1.7728 and confirmed 1.7811 as resistance, unleashing a bearish movement that brought the price at the 1.5936 support area. Along the path, some interesting occurrences took place. The first one is […]

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