Day: December 13, 2019

December 13
2019

Euro Falls as US Dollar Rallies on Positive Sino-US Trade Headlines

The euro today fell against the US dollar erasing most of yesterday’s gains, which were driven by the Conservative Party‘s landslide win in the UK elections. The EUR/USD currency pair today traded sideways before plunging lower in the early American session as the greenback rallied higher boosted by positive trade headlines. The EUR/USD currency pair today fell from a high of 1.1185 in the mid-European session to a low of 1.1117 in the American session and was near these […]

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December 13
2019

NZ Dollar Loses Gains After Rallying on US-China Trade Deal News, Domestic Data Doesn’t Support

The New Zealand dollar climbed intraday as reports about a phase-one trade deal between the United States and China put markets into a risk-on mode. Currently, though, the kiwi has lost its gains versus most of its major rivals, trading either flat or slightly lower. The New Zealand currency managed to keep gains versus the Australian dollar but was unable at all to rise versus the euro and the Great Britain pound. […]

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December 13
2019

Sterling Skyrockets After Conservatives Win in UK Election

The Great Britain pound soared today after the landslide victory of the Conservative party in the UK election. With Conservatives securing a majority in the House of Commons, chances for disorderly Brexit fell dramatically, though hard Brexit remains a possibility. Currently, the sterling has trimmed its gains but is still trading far above the opening level. The Conservative Party of Prime Minister Boris Johnson achieved a convincing victory against the Labour Party, securing […]

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December 13
2019

Japanese Yen Plunges on String of Bearish Data

The Japanese yen is in freefall against many of its currency rivals at the end of the trading week, driven by bearish data that signal the world’s third-largest economy might be nearing a recession after all. There was hope, however, on revised figures that show Japan’s economy grew faster than initially thought in the third quarter. According to newly revised Cabinet Office data, the gross domestic product (GDP) advanced at an annualized […]

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December 13
2019

NZD/CAD May Have the Path to 0.8915 Open

The New Zealand dollar versus the Canadian dollar currency pair appreciated, piercing the 0.8692 resistance. Will the bulls be able to sustain the gains? Long-term perspective After departing from the weekly support of 0.8344, the price conquered two intermediate levels — 0.8514 and 08577, respectively — and then headed on for 0.8692. After the futile bearish attempt to change course on December 9, the bulls succeeded in trading above 0.8684, an event which also took out […]

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