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Day: October 28, 2019
October 282019
Canadian Dollar Flat As Investors Brace for Interest Rate Decision
The Canadian dollar is trading relatively flat against most competing currencies to kick off the trading week. After witnessing the August federal deficit come in larger than anticipated, investors are now waiting to see how the Bank of Canada (BOC) moves ahead with interest rates now that the general election is over and the Liberals have secured a minority government. According to the Department of Finance, the federal budget gap widened […]
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October 282019
Will AUD/JPY Take the Chance to Conquer the 76.00 Resistance?
The Australian dollar versus the Japanese yen currency pair shows signs of strength from the bullish side. Long-term perspective After confirming the resistance of 80.54, the price began a descending movement that printed a low at 69.95 before rallying, thus rendering the pierce of 71.09 as a false one. After that, it rallied towards the previous support level, 73.93, only to peak at 74.46 and retrace, confirming it as a resistance. As the bears were celebrating their […]
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