Day: October 18, 2019

October 18
2019

Euro Rallies to New 2-Month Highs as Dollar Falls to 2-Month Lows

The euro today rallied to new 2-month highs as the US dollar extended its losses by falling to fresh 2-month lows amid a risk-on market environment. The EUR/USD currency pair rallied to its daily highs in the American session amid multiple speeches from Fed speakers. The EUR/USD currency pair today rallied from a low of 1.1115 to a high of 1.1159 in the American session and was near these highs at the time of writing. The currency pair traded […]

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October 18
2019

Chinese Yuan Weakens As Economy Expands at Slowest Pace in 30 Years

The Chinese yuan is weakening against most major currency rivals at the end of the trading week after Beijing reported that the world’s second-largest economy expanded at the slowest pace in 30 years. While the third-quarter report was dominated by the gross domestic product (GDP), there were a couple of positive indicators that still offered hope for investors, especially as US and China trade relations are stuck at a standstill. According to the National Bureau of Statistics, […]

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October 18
2019

USD/JPY Reached 108.89, a Level Destined to Be Surpassed

The US dollar versus the Japanese yen currency pair rallied strongly and reached the 108.89 level, from where profit booking began. Long-term perspective After etching the low at 104.44, the bulls pushed the price to the north. Even if the bears tried to stall the movement, the bulls were very astute and, after confirming the double support made possible by the upper line of the descending channel and the 106.92 level, took out the previous peak at 108.47, […]

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