Day: February 5, 2020

February 5
2020

US Dollar Rises on Decline in Trade Deficit, Jobs Data

The US dollar is rising midweek on strong economic data and the rebound in global financial markets. Despite the Wuhan coronavirus significantly affecting China and spreading to other countries, traders are confident that the outbreak will be contained. The greenback is mirroring its performance from early last year as it is already up close to 2% so far in 2020. According to the Bureau of Economic Analysis (BEA), the trade deficit jumped […]

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February 5
2020

Pound Crashes Against US Dollar on Upbeat US PMI Data

The Sterling pound today attempted to rally against the US dollar, but the rally was shortlived as the greenback reversed course and drove the pound lower. The GBP/USD currency pair today rallied to its daily highs before heading lower as investor appetite for the pound waned amid a rejuvenated dollar. The GBP/USD currency pair today rallied to a high of 1.3070 in the early London session before falling to a low of 1.2956 in the American session but had recovered […]

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February 5
2020

GBP/AUD Could Head for 1.9053 After Bearish Engulfing

The Great Britain pound versus the Australian dollar currency pair seems to lack the power to drive prices higher. Is this actually true or are the bulls just waiting for the right moment? Long-term perspective The ascending movement that started after 1.7634 was confirmed as support managed to conquer every level with relative ease and, thus, was able to extend until the high of 1.9752. Even if the bulls seem to be […]

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