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Day: February 19, 2020
February 192020
Canadian Dollar Rallies on Chinese Stimulus, Higher Crude Prices
The Canadian dollar is rallying midweek on Chinaâs latest announcements of fiscal and monetary stimulus to combat the negative economic effects of the Wuhan coronavirus, also officially known as Covid-19. The loonie also benefited from soaring crude oil prices on Wednesday, but gains were capped on warnings that the rail blockade by protesters will affect the national economy. This week, Beijing unveiled a series of measures to shield the worldâs second-largest economy from the coronavirus’ […]
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February 192020
Pound Falls Despite Upbeat UK Inflation Data and Positive US Prints
The Sterling pound today fell against the US dollar despite the release of upbeat UK inflation data in the early London session. The GBP/USD currency pair fell at a crucial support level, which has been cited by most analysts as the main reason for the pair’s decline. The GBP/USD currency pair today fell from an opening high of 1.3022 in the early London session to a low of 1.2923 in the American session and was trading near these lows at the time […]
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February 192020
Looks like AUD/NZD Targets 1.0530
The Australian dollar versus the New Zealand dollar currency pair appears to be in bullish hands, even if the bears did all they could to send it towards the south. Long-term perspective After the confirmation of 1.0837 as resistance, the price started a strong depreciation that reached the area of 1.0361. Along this way, two important levels gave way: the weekly support of 1.0689 and the monthly support of 1.0640, respectively. But the next support, […]
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