Day: October 14, 2019

October 14
2019

Euro Trades Sideways as Investors Ponder US-China Interim Deal

The euro today cooled off slightly after posting gains against the US dollar for the past three days as investors digested the impact of Friday’s US-China handshake deal. The EUR/USD currency pair fell to its daily lows after the release of weak German wholesale prices data before rallying higher shortly afterwards. The EUR/USD currency pair today fell to a daily low of 1.1013 in the early European session before rallying to a high of 1.1042 […]

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October 14
2019

Megaphone on AUD/CAD in the 0.9000 Key Area

The Australian dollar versus the Canadian dollar currency pair printed a megaphone in an area from where a rotation could decide the fate of the pair for the next few months. Long-term perspective After not being able to remain above the major support of 0.9300, the price entered in a descending trend that etched a low at 0.8835 as part of the megaphone, a structure that could signal the end of the trend. The low at 0.8835 belongs to a bullish engulfing pattern, a very strong […]

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October 14
2019

Australian Dollar Declines After China’s Poor Trade Data

The Australian dollar started the trading week with losses against other most-traded currencies. The general market sentiment seemed to be relatively optimistic due to the positive news about the US-China trade negotiations. But trade data from China released on Monday did not look good, and that is one of the possible reasons for the weak performance of the Aussie. Markets opened on a positive footing due to good news about progress in the Sino-US trade […]

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October 14
2019

Canadian Dollar Weakens As Jobs Momentum Fades

The Canadian dollar is slipping against several currency rivals on Monday, suggesting that the euphoria from last week’s better-than-expected jobs report may have dissipated to kick off the week forex markets. While the current labor market is one of the best Canada has ever had, the economy has returned to its anemic state. How much will the economy play in next week’s federal election? According to Statistics Canada, […]

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