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Day: February 27, 2020
February 272020
Euro Hits 3-Month High as Dollar Crumbles on Coronavirus Fears
The euro today to new highs as the dollar crumbled in the face of mounting coronavirus fears amid and falling US Treasury yields dampened demand for the greenback. The EUR/USD currency pair today rallied above the crucial 1.10 level as investors flocked to the single currency boosted by positive euro area fundamental releases. The EUR/USD currency pair today rallied from an opening low of 1.0885 to a high of 1.1006 in a 120 pip move but was off these […]
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February 272020
US Dollar Mixed As Economy Grew 2.1% in Q4, Coronavirus Threatens Q1
The US dollar is mixed on Thursday as the economy grew at a modest clip in the fourth quarter and traders are fleeing to safe-haven assets amid market turmoil. But investors are concerned that the coronavirus could significantly impact first-quarter gross domestic product (GDP), and do a lot more damage to the worldâs largest economy. According to the Bureau of Economic Analysis (BEA), the US economy rose 2.1% during the October-to-December period, matching forecasts among […]
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February 272020
New Zealand Dollar Mixed amid Negative Sentiment, Conflicting Economic Reports
The New Zealand dollar was mixed today, managing to gain on some major currencies, even as the market sentiment remained unfavorable to riskier currencies linked to commodities. Domestic macroeconomic data was not helpful, failing to provide a clear picture of New Zealand’s economy. One of the reports released over Thursday’s session beat expectations while the other one was not good. Statistics New Zealand reported that the trade balance turned […]
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February 272020
Lift-Off on NZD/CAD from 0.8344: Go or No Go?
The New Zealand dollar versus the Canadian dollar currency pair is revisiting a very important support area. Will the bears succeed this time? Long-term perspective After it peaked at 0.8799, the price went beneath the old weekly support of 0.8692, thus giving a sign that the bulls overextended and that it’s the bears’ turn to ride the market. And a bearish profile indeed came into being, as the price dropped, reaching the 0.8351 low, […]
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