Day: December 23, 2019

December 23
2019

Canadian Dollar Dips As Economy Contracts In October

The Canadian dollar is trading a bit lower against multiple currency competitors to start the trading week, driven by a recent string of disappointing economic numbers, including a surprising economic contraction in October. The loonie has still been one of the best-performing currencies among G20 nations, but anemic growth could affect its performance heading into 2020. According to Statistics Canada, the gross domestic product (GDP) contracted 0.1% in October, down […]

Read more
December 23
2019

Pound Crashes to New 3-Week Lows as Boris Pushes for Hard Brexit

The Sterling pound today crashed to new 3-week lows against the US dollar amid fears that Boris Johnson was pushing for a hard Brexit. The GBP/USD currency pair today fell from the early London session as investors sold the pair following Friday’s passage of the Brexit Withdrawal Bill. The GBP/USD currency pair today fell from a daily high of 1.3031 in the early London session to a low of 1.2905 in the early American session and was […]

Read more
December 23
2019

Euro Falls on Low Liquidity and Market Sentiment, Rallies on US Data

The euro today rallied from its daily lows following the release of weak US durable goods orders in the early American session. The EUR/USD currency pair had fallen earlier in the session amid low liquidity ahead of the Christmas holiday break. The EUR/USD currency pair today fell to a low of 1.1070 in the mid-European session before rallying to a high of 1.1095 in the American session but was off these highs at the time of writing. The currency pair […]

Read more
December 23
2019

AUD/NZD on Its Way to 1.0530

The Australian dollar versus the New Zealand dollar currency pair is, slowly but surely, heading towards higher prices. Are there any possible obstacles? Long-term perspective After falsely piercing the 1.0837 resistance and peaking at 1.0865, the price began a very bearish movement, one that brought it at the weekly support of 1.0361. On its way here it also pierced another important support, namely 1.0530. For the time being, […]

Read more