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Day: January 28, 2020
January 282020
US Dollar Falls Against Rivals on Weaker Business Investment in 2019
The US dollar is falling against its major currency rivals on Tuesday as new data highlights an uncomfortable truth for the worldâs largest economy: Business investment is weakening. That has not stopped the consumer from being bullish as confidence in the US economy has not been this high in more than 20 years. In December, durable goods orders soared 2.4%, beating market forecasts of a 0.3% drop. However, the report […]
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January 282020
Euro Breaks Below 1.10 on Mixed US Data and Risk-Off Sentiment
The euro today fell for the fourth consecutive session against the US dollar as the risk-off sentiment dominated the markets in the face of new coronavirus infections. The EUR/USD currency pair today broke below the critical 1.10 level despite European equities closing higher as investor risk aversion ebbed later in the session. The EUR/USD currency pair today fell from a high of 1.1025 in the Asian session to a low of 1.0998 in the American session having breached the crucial 1.10 […]
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January 282020
Australian Dollar Falls on Risk Aversion, Deteriorating Business Confidence & Conditions
The Australian dollar fell against most major currencies today, with the exception of the Great Britain pound and the New Zealand dollar. The market sentiment remained in the risk-off mode, and domestic macroeconomic data was unfavorable to the currency of Australia as well. National Australia Bank reported that both business conditions and business confidence fell in December. Conditions fell from +4 to +3. Confidence dropped from 0 to -2, touching the lowest level since […]
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January 282020
Japanese Yen Halts Rally, Risk Aversion Persists
The Japanese yen fell against a range of currencies today, even including some commodity-related ones. The possible reason for the retreat was profit-taking after the previous big gains. The market sentiment remained fragile as the coronavirus continues to spread, and investors are concerned about its impact on the global economy. The dangerous infection continues to spread, with the number of confirmed cases exceeding 4,500 and the death toll climbing to 106, up from 81 yesterday. There […]
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January 282020
AUD/CAD Could Be on Its Way to 0.8835
The Australian dollar versus the Canadian dollar currency pair was brought by the bears at the 0.8918 support. Will it have the necessary strength for a strong upwards leg? Long-term perspective After printing the low of 0.8835, the price began a movement towards the north. But most of the development that followed was limited by the resistance of 0.9093 — and supported by 0.9010. Once out of this consolidation phase, the price revisited 0.8918, under a clear bearish pressure. But […]
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