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Day: October 8, 2019
October 82019
Pound Falls to New 5-Week Lows as Brexit Headlines Trigger Despair
The Sterling pound today fell to new 5-week lows as talks between Britain and the EU appeared to have hit a wall given today’s events. The GBP/USD currency pair today fell after reports that a phone call between Boris Johnson and the German Chancellor had made a Brexit deal almost impossible. The GBP/USD currency pair today fell from a high of 1.2302 in the early London session to a new 4-week low of 1.2196 before […]
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October 82019
US Dollar Strengthens As Wholesale Prices Fall
The US dollar is strengthening on Tuesday after the US government reported that wholesale prices slumped last month, defying market forecasts. Investors are also waiting for the Federal Reserve minutes from its September policy meeting, as well as bracing for this weekâs tumultuous renewed US-China trade negotiations in Washington. According to the Bureau of Labor Statistics (BLS), the producer price index (PPI) slipped 0.3% in September, lower than the median […]
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October 82019
EUR/USD Struggles to Resume Rebound
EUR/USD was attempting to resume its bounce after yesterday’s decline. While the currency pair was rising till 10:15 GMT, it has reversed its movement afterward. The attempt to bounce after the disappointing US macroeconomic data was short-lived and the EUR/USD pair continued to move lower, though it is still trading above the opening level currently. PPI fell 0.3% in September, while market participants were expecting […]
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October 82019
NZD/CAD Back Above the Weekly Support of 0.8344
The New Zealand dollar versus the Canadian dollar currency pair managed to reconquer the important 0.8344 level. Long-term perspective The decline that started at 0.9281 managed to pierce the important support of 0.8344, but the bulls were very determined, printing the low of 0.8236 and then driving the price back above it. They did so by etching a bullish engulfing on October 2. The fact that this puncture was invalidated by such a strong pattern […]
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