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Day: February 7, 2020
February 72020
Canadian Dollar Falls on Weak Oil Prices, Despite Upbeat Jobs Report
The Canadian dollar today fell against the US dollar following the release of mixed Canadian jobs data and the upbeat US non-farm payrolls report. The USD/CAD currency pair’s rally was also fueled by the decline in global crude oil prices, which dragged the commodity-linked loonie lower. The USD/CAD currency pair today spiked to a daily low of 1.3279 following the employment reports from the US and Canada before rallying back to its daily high […]
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February 72020
US Dollar Jumps on Strong January Jobs Report
The US dollar is soaring against many major currency rivals to close out the trading week, driven by a better-than-expected January jobs report. This comes as the US economy enjoyed a plethora of positive numbers this week that have made investors question if the slowdown is as prevalent as analysts say it is. According to the Bureau of Labor Statistics (BLS), the US economy added 225,000 jobs in January, up from an upwardly […]
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February 72020
Euro Hits New 2020 Lows on Mixed German Data, Ahead of US NFP
The euro today fell to new 2020 lows against the US dollar in the early European session following the release fo mixed data from the German docket. The EUR/USD currency pair fell through significant support levels to hit a 4-month low driven by a risk-averse market environment ahead of the crucial US non-farm payrolls report. The EUR/USD currency pair today fell from an Asian session high of 1.0985 to a low of 1.0956 in the early European […]
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February 72020
USDJPY Rally Challenged by the 110.00 Level
The US dollar versus the Japanese yen currency pair may have extended a little too much in a very short timespan. Long-term perspective After confirming the 108.13 level via the false break that impressed the low at 107.65, the price appreciated until the 110.29 resistance level. From there, a depreciation that extended until 108.31 came into play, thus printing a higher low with respect to the previous one, 107.65, respectively. […]
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