Day: February 20, 2020

February 20
2020

Euro Trades at April 2017 Lows Despite Upbeat German Macro Prints

The euro today traded at multi-year lows against the US dollar despite the release of positive German macro reports in the early European session. The EUR/USD currency pair fell to lows last witnessed in April 2017 after the results of the last French election were announced. The EUR/USD currency pair today traded between a high of 1.0821 and a new multi-year low of 1.0777 and was within this range at the time of writing. The currency pair headed lower […]

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February 20
2020

Chinese Yuan Slides Breaches 7 As PBoC Injects More Stimulus

The Chinese yuan has tumbled past the crucial 7 mark against the US dollar again as the central bank injected additional stimulus to contain the economic fallout from the coronavirus. This is the second time in less than a year that the yuan has fallen to this level, and many experts anticipate further weakening of the currency until Covid-19 has been subsided. On Thursday, the People’s Bank of China (PBoC) reduced the loan prime rate […]

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February 20
2020

Australian Dollar Drops After Unemployment Rate Rises

The Australian dollar fell against almost all most-traded currencies today (with the exception of the New Zealand dollar) after the release of an employment report. While the employment figures were not that bad, the bigger-than-expected increase of unemployment made the currency unappealing to traders. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed Australians increased by 13,500 in January. That was a bigger increase than 10,000 predicted by experts. The increase was […]

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February 20
2020

Head and Shoulders Look-Alike on NZD/CAD: Complete

The Great Britain pound versus the Canadian dollar currency pair set the depreciation into motion. Do the bulls still have any chances? Long-term perspective The confirmation of the 1.5936 support level started a strong bullish movement, one that extended until the level of 1.7811. After almost reaching the level, the price retraced under 1.7499 and confirmed it, at the start of February, as resistance. This confirmation, alongside with the highs of 1.7305 and 1.7323, respectively, […]

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