Day: January 6, 2020

January 6
2020

US Dollar Unable to Find Support From Strong PMI Readings

The US dollar is tumbling to kick off the trading week, despite strong data that should support the greenback. The buck might be continuing its fourth-quarter reversal that saw the currency pare most of its stellar gains from the first nine months of 2019. Investors could be cautious due to swelling US-Iran tensions, which have also somewhat seeped into global financial markets. On Monday, the IHS Markit […]

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January 6
2020

Euro Rallies on German Retail Sales and Euro Area PMIs, Later Falls

The euro today rallied higher against the US dollar in the early European session following the release of upbeat German retail sales data and euro area PMIs. The EUR/USD currency pair later fell as the greenback rallied amid rising US-Iran tensions and the release of upbeat US PMI data by Markit Economics. The EUR/USD currency pair today rallied from a low of 1.1157 in the Asian session to a high of 1.1205 in the mid-European session before giving up […]

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January 6
2020

Is the Descending Trend on AUD/USD Really Over?

The Australian dollar versus the US dollar currency pair intruded the resistance trendline of the descending channel but stopped into an important resistance area. How does that impact the evolution of the upcoming period? Long-term perspective After confirming the 0.6700 level as support, the price oscillated in such a manner that, eventually, managed to pierce the upper trendline of the descending channel. Of course, this can frankly be considered as a positive sign for the bulls. But the advancement […]

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