Day: December 5, 2019

December 5
2019

Euro Inches Higher On In-Line Eurozone GDP and Weak Dollar

The euro today inched higher against the US dollar driven by the latest eurozone GDP data, which met expectations, and positive market sentiment. The weaker greenback also fueled the EUR/USD currency pair’s gains as investors remained sceptical about the possibility of a US-China trade deal. The EUR/USD currency pair today rose from a low of 1.1079 in the early European session to a high of 1.1107 in the American session and was near these highs at the time of writing. […]

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December 5
2019

Japanese Yen Mixed on $120 Billion Stimulus Package, PMI Readings

The Japanese yen is trading mixed against major currency rivals on Thursday as reports suggest Tokyo is going to spend billions in stimulating the economy. Various purchasing managers’ index (PMI) readings improved last month, helping the yen this week. But bond investments held by citizens abroad fell for the second week in a row, though this was offset by another increase in stock holdings by foreign investors in Tokyo. The Jibun Bank […]

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December 5
2019

AUD/USD Hanging on the 0.6850 Level

The Australian dollar versus the US dollar currency pair reached an important resistance area. Both the bulls and bears could use this it for good alignment in the market, but the question is which of them will take control? Long-term perspective After bottoming at the 0.6700 psychological level and printing the last low at 0.6670, the price appreciated and pierced the major support of 0.6850. The rally continued until the peak of 0.6929, from where a depreciation commenced, […]

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