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Day: November 18, 2019
November 182019
Pound Rallies as Boris Johnson Maintains Lead in Elections Race
The Sterling pound today rallied higher against the weaker US dollar as Boris Johnson held on to his lead in opinion polls ahead of the December elections. The GBP/USD currency pair rallied higher despite Johnson backtracking on his initial election pledge to cut corporate taxes. The GBP/USD currency pair today rallied from a low of 1.2916 to a high of 1.2985 in the mid-London session before retracing some of its gains later in the session. The currency pair […]
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November 182019
Chinese Yuan Slides As PBOC Unexpectedly Cuts Short-Term Funding Rate
The Chinese yuan is sliding against multiple currency pairs to start the trading week. The central bankâs decision to unexpectedly cut its short-term funding interest rate is playing a huge role in global financial markets on Monday. Will this be enough to withstand the economic storm clouds that have been gathering in the worldâs second-largest economy over the last 18 months? Investors were celebrating on Monday after the Peopleâs Bank […]
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November 182019
US Dollar Forecast for November 18-22, 2019
The US dollar did not fare well last week, either falling or staying flat against its most-traded rivals. What events will be influencing the greenback this week and what traders can expect from the US currency? One of the major driving factors for the dollar lately were US-China trade negotiations. Hopes for a limited deal between the world’s two biggest economies still persist, and news about progress in the talks […]
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November 182019
Surprise Bullish Comeback on AUD/USD from 0.6800
The Australian dollar versus the US dollar currency pair rallied after touching the 0.6800 psychological level. Is this a sustainable bullish comeback, or it’s just the bears preparing further decline? Long-term perspective After bottoming around the 0.6700 psychological level, the price began an appreciation that pierced and confirmed 0.6800 as support, and then pierced but failed to confirm as support the 0.6858 level. This failure led to a strong bearish enthusiasm which […]
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