Day: December 27, 2019

December 27
2019

Chinese Yuan Mixed As Industrial Profits Rebound

The Chinese yuan is mixed at the end of the trading week as final data of 2019 and outlook for 2020 drive the currency’s trading performance. With industrial profits rebounding in November, analysts are holding out hope that next year could be an improvement now that there is some certainty on the trade file. According to the National Bureau of Statistics (NBS), the largest industrial companies saw their profits tumble by 2.1% in the first 11 […]

Read more
December 27
2019

Japanese Yen Stuck Trading Sideways Against the Weak US Dollar

The Japanese yen today traded in a tight range against the US dollar despite the greenback’s overall weakness against other major currencies. The USD/JPY traded sideways even as the Nikkei 225 equity index closed lower for the day despite the risk-on market sentiment. The USD/JPY currency pair today traded between a high of 109.55 and a low of 109.43 and was trading within this range at the time of writing. The currency pair’s overall weakness was driven […]

Read more
December 27
2019

Pound Hits 7-Day High on Santa Claus Rally and USD Weakness

The Sterling pound today rallied against the US dollar as the Santa Claus rally kicked into full effect in the absence of any significant fundamental releases. The GBP/USD rallied to new 7-day highs as the greenback fell against most of its peers as investor risk appetite soared. The GBP/USD currency pair today rallied from an Asian session low of 1.2968 to a high of 1.3075 in the early London session and was trading near this high at the time […]

Read more
December 27
2019

Will NZD/CAD Correct on Its Way to 0.8915?

The New Zealand dollar versus the Canadian dollar currency pair managed to conquer the 0.8692 level. The continuation towards 0.8915 might come after a corrective phase. Long-term perspective The low at 0.8236 started an ascending movement that did not allow any bearish victory. In its ascension, the price won important levels, the last one being 0.8692, an old but important weekly support. The current swing, which started at 0.8614, took […]

Read more