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Day: February 3, 2020
February 32020
Chinese Yuan Crashes As Coronavirus Intensifies, Markets Crater
The Chinese yuan is crashing to kick off the trading week, cratering against all major currency rivals. The yuan is taking a beating after the leading stock indexes plunged due to the Wuhan coronavirus intensifying in China. The death toll reached 361 and the total number of people infected with the virus surged to 17,328. Will the worldâs second-largest economy be able to recover? The authorities are responding to the outbreak with monetary and fiscal tools. […]
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February 32020
Australian Dollar Gains as No Rate Cut Expected in February
The Australian dollar rose today after the outlook for the monetary policy of the Reserve Bank of Australia improved. The general market sentiment improved as well, also providing support to the Australian currency. The Aussie gained against all other most-traded currencies, though by now it has retreated from the day’s highs. Previously, market participants were expecting that the RBA will cut its main interest rate by 25 basis points to 0.5% tomorrow. […]
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February 32020
Will the Sellers Hit the Breaks on AUD/USD at 0.6700?
The Australian dollar versus the US dollar currency pair dropped sharply. Is it now the moment to expect profit booking? Long-term perspective After the price went under the neckline of the head and shoulders pattern marked by the peaks of 0.6983 and 0.6933, respectively, a strong depreciation came. The reasons behind this are represented mainly by the impossibility of the bulls to keep the price above 0.6850, which in turn is a major support, and by the fact that oscillating under […]
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February 32020
US Dollar Forecast of February 3-7, 2020
The US dollar demonstrated a rather good performance in January thanks to the risk aversion caused by the Wuhan coronavirus. But what to expect from the greenback during the first week of February and what factors will be driving it? The week will be full of important events in the United States. One of them will be Monday’s Iowa caucuses, which will help to decide candidates for the US presidential election. While Donald Trump will […]
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