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Day: February 10, 2020
February 102020
Euro Falls on Coronavirus News and US-EU Economic Divergence
The euro today fell to new 2020 lows against the much stronger US amid a risk-off market environment dominated by headlines of new coronavirus infections. The EUR/USD currency pair’s decline was accelerated by Friday’s positive US non-farm payrolls report, which showed diverging performance between the two economies. The EUR/USD currency pair today fell from an Asian session high of 1.0958 to a low of 1.0909 in the American session and was near these […]
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February 102020
Canadian Dollar Mixed As Housing, Jobs Data Unable to Trigger Momentum
The Canadian dollar is trading mixed against multiple currency rivals to kick off the trading week, despite bullish housing and jobs data that should have buoyed the loonie. The paucity of momentum will be more pronounced as the Canadian dollar may trade sideways ahead of the central bankâs policy announcement later this week. Will the currency reverse its downward trend? According to the Canada Mortgage and Housing Corporation (CMHC), seasonally […]
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February 102020
Australian Dollar Trades Higher After China’s CPI Beats Expectations
The Australian dollar rose today after China’s consumer inflation accelerated more than was expected by markets. The market sentiment was still cautious as the Wuhan coronavirus continued to spread across China. According to data from the National Bureau of Statistics of China, the Consumer Price Index climbed by 5.4% in January, year-on-year. That is compared with the median forecast of a 4.9% increase and a 4.5% gain registered in the prior month. The Producer Price Index […]
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February 102020
AUD/USD Might Be Ready for 0.6500
The Australian dollar versus the US dollar currency pair, although it may be still receiving some bullish support, seems to be in bearish hands. Long-term perspective The decline that followed the head and shoulders pattern — shoulders market by the peaks of 0.6938 and 0.6933, respectively — reached the area of the 0.6700 psychological level. From there, after bottoming at 0.6678, the price climbed at 0.6774. Further appreciation was halted as the price confirmed the area corresponding […]
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