Day: November 11, 2019

November 11
2019

Canadian Dollar Mixed on October Jobs Report, Housing Fallout

The Canadian dollar is failing to rebound to kick off the trading week as the currency was stung by a disappointing October jobs report on Friday. The loonie was further hampered by slumping housing numbers. Is the Canadian economy at a standstill or is there room for growth? According to Statistics Canada, the national economy lost 1,800 jobs in October, down from the 54,000 increase in jobs in September, which is the weakest performance since July. The unemployment rate […]

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November 11
2019

Pound Rallies on Farage’s Election Concession Despite Weak GDP

The British pound today rallied against the US dollar after Nigel Farage confirmed his support for the Conservative Party raising hopes about Brexit. The GBP/USD currency pair rallied to new 4-day highs on the political headlines despite the release of multiple weak UK macro reports. The GBP/USD currency pair today rallied from a low of 1.2786 in the Asian session to a high of 1.2897 in the mid-London session and was off these highs at the time of writing. […]

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November 11
2019

Bears Trying to Start an Impulsive Swing from 0.6929

The Australian dollar versus the US dollar currency pair looks like it is failing in its appreciation efforts. Or isn’t it? Long-term perspective After bottoming around 0.6700 psychological level, the price began an appreciation that confirmed the 0.6800 area as support, pierced 0.6858, and peaked at 0.6929. Afterward, the pair retraced at the 0.6858 level, raising the question of whether if the bulls are searching for better prices or if the bears are trying […]

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