Day: January 2, 2020

January 2
2020

Chinese Yuan Mixed As PBoC Cuts Reserve Requirements to Boost Economy

The Chinese yuan is mixed on Thursday as the central bank announced that it is cutting amounts of deposits that commercial institutions are mandated to hold as reserves. This comes soon after new data found the nation’s manufacturing activity remained in expansionary territory, which is positive news for a nation that is trying to achieve better growth than what it has recorded over the last two years. On Wednesday, […]

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January 2
2020

Euro Falls Against the Strong Dollar Despite Upbeat Eurozone PMIs

The euro today fell against the US dollar on the first trading day of 2020 as the greenback started the year on a strong footing and rallied higher. The EUR/USD currency pair today fell from the multi-month highs hit on December 31st despite the release of mostly upbeat euro area PMI reports by Markit Economics. The EUR/USD currency pair today fell from an opening high of 1.1222 to a low of 1.1170 in the early American session and was near these […]

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January 2
2020

Bulls on GBP/AUD Might Try to Recover 1.0953

The Great Britain pound versus the Australian dollar currency pair is in a spot that just might favor the bulls if they know how and when to act. Long-term perspective The ascending movement that started after the confirmation of 1.7634 as support crystallized the last peak at 1.9522. Being a brief development, it resulted in a false break of the 1.9470 resistance, which in turn was seen by the bears as their chance to drive the price lower. They […]

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