Day: March 5, 2020

March 5
2020

Euro Rallies as Coronavirus Fears in the US Push the Dollar Lower

The euro today rallied higher against the US dollar as authorities in California declared a state of emergency amid rising coronavirus cases. The EUR/USD currency pair benefitted from the risk-off investor sentiment and the greenback’s losses despite a mostly empty European docket. The EUR/USD currency pair today rallied from a low of 1.1119 in the early European session to a high of 1.1200 in the early American session despite the risk-off market mood. The currency pair traded sideways […]

Read more
March 5
2020

Japanese Yen Jumps on Safe-Haven Demand, Capped by Poor Data

The Japanese yen is strengthening against a handful of currency rivals on Thursday as investors pour into safe-haven assets amid the coronavirus outbreak. Japan, which has experienced an uptick in Covid-19 cases, reported disappointing manufacturing and non-manufacturing data that might force the country into a recession. The big test over the medium-term is if Tokyo will still be able to host the Summer Olympics, an event that was expected to stimulate the world’s […]

Read more
March 5
2020

GBP/CAD Still Aiming for 1.7811

The Great Britain pound versus the Canadian dollar currency seems not to be willing to stray away from its path towards 1.7811. Long-term perspective After confirming the level of 1.5936, the price began an appreciation that, starting with late October 2019, seemed to form a symmetrical triangle. Usually, this chart pattern indicates a continuation, and because in the case of this chart it preceded by an upwards pointing movement, the expectations are for the continuation […]

Read more