Day: February 21, 2020

February 21
2020

US Dollar Weakens As Economy Softens on Coronavirus, 2020 Election Fears

The US dollar is weakening against many major currency rivals at the end of the trading week, driven by disappointing economic data. Analysts are sounding the alarm that the coronavirus is beginning to impact American growth, which is evident in the recent purchasing managers’ index (PMI) readings. Although the presidential election is less than nine months away, the market is beginning to pay attention to the latest developments – and many are […]

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February 21
2020

Euro Rallies on Upbeat PMIs, Quickly Falls on Coronavirus Headlines

The euro today spiked higher against the US dollar in the early European session following the release of upbeat eurozone PMIs by Markit Economics. However, the EUR/USD currency pair’s rally was short-lived since the pair fell shortly afterwards after news of rising coronavirus infections in South Korea damped investor risk appetite. The EUR/USD currency pair today rallied to a high of 1.0820 after the PMI releases before quickly falling to trade near […]

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February 21
2020

USD/JPY in Orbit – At 112.25. What Now?

The US dollar versus the Japanese yen currency pair skyrocketed. So, what goes up must come down or it this just the beginning of a new path? Long-term perspective The low at 104.44 was the starting point for an ascending trend that, after extending until 110.29, gave signs of a possible turn around. However, the consolidation that came about after the rally from 108.31 gathered sufficient energy to cause the explosive appreciation […]

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