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Day: January 27, 2020
January 272020
Euro Mixed amid Spreading Coronavirus Fears, Worsening German Business Climate
The euro was mixed today amid spreading fear of the coronavirus that has started in China. The shared 19-nation currency fell versus its safe counterparts but performed better versus other rivals. The euro was particularly strong against commodity currencies. There was just one major macroeconomic report released in the eurozone today, and it was unfavorable to the region’s currency. The death toll from the virus has reached 81 […]
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January 272020
Chinese Yuan Plunges to 2020 Low As Coronavirus Spreads
The Chinese yuan is plunging to its lowest level of 2020 as the Wuhan coronavirus outbreak intensifies. Despite the worldâs second-largest economy showing signs of a rebound, the consensus is that China will reverse its gains and struggle to stay afloat, especially if some reports that the virus will intensify in April and May are correct. Health authorities say that at least 81 people in China have died, and there are at least […]
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January 272020
AUD/USD Set Its Destination for 0.6700
The Australian dollar versus the US dollar currency pair was not able to maintain its ground above 0.6850. As a consequence, the south is the current destination, unless 0.6850 was only falsely pierced. Long-term perspective After the confirmation as support of the 0.6700 psychological level, the price unleased a strong bullish profile, one that was able to pierce and depart from the resistance line of the descending channel, extending until the 0.7013 level. But […]
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