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Day: February 17, 2020
February 172020
Pound Falls on Johnsonâs Brexit Comments Amid Low Liquidity
The Sterling pound today fell against the US dollar as the UK and the European Union continue to play hardball with each other ahead of the official Brexit negotiations. The GBP/USD fell for most of today’s session amid low-liquidity conditions, given that the US markets remained closed even as the country celebrates President’s Day. The GBP/USD currency pair today fell from an opening high of 1.3052 to a low of 1.3001 in the Ameican session and was trading near […]
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February 172020
Chinese Yuan Gains As PBoC Cuts Rates, Hints at More Stimulus
The Chinese yuan is strengthening against the major currency rivals to kick off the trading week, buoyed by investorsâ hopes that Beijing will launch additional fiscal and monetary stimulus to protect the economy from the Wuhan coronavirus fallout. Over the last two weeks, policymakers have unveiled economic measures to limit the damage from Covid-19, and financial markets have been ebullient over the announcements. On Monday, the Peopleâs Bank of China (PBoC) lowered […]
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February 172020
Japanese Yen Struggles to Hold Ground After Awful GDP Print
The Japanese yen was vulnerable today after the release of an awful report on the country’s gross domestic product. Furthermore, investors were moderately hopeful that China’s efforts to battle the deadly epidemic of a coronavirus will bear fruit. Nevertheless, the yen did not perform that bad considering the circumstances, even managing to gain on some of its rivals. Japan’s Cabinet Office reported that GDP dropped by 1.6% in the fourth quarter of 2020, much […]
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February 172020
Are the Bulls Really in Control of 0.6700 on AUDUSD?
The Australian dollar versus the US dollar currency pair seems to be part of both bullish and bearish sides. But on which side is it, actually? Long-term perspective After printing the head and shoulders pattern marked by the highs of 0.6938 and 0.6933, respectively, the price dropped under the major support of 0.6850. By doing so, it also re-entered the descending channel, which fueled the decline even more. As a result, the price reached the area of the 0.6700 […]
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