Day: March 10, 2020

March 10
2020

Pound Falls on UK Politics and US Fiscal Stimulus Expectations

The British pound today fell against the much stronger US dollar as markets waited for a fiscal stimulus package to be announced by the US government. The GBP/USD currency pair was also weighed down by British politics as the government gave up its massive majority in a crunch vote on Huawei. The GBP/USD currency pair today fell from an initial high of 1.3088 to a low of 1.2899 in the American session and was near these lows at the time of writing. […]

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March 10
2020

US Dollar Rallies As Equities Bounce Back, Business Optimism Jumps

The US dollar is rallying against several currency competitors on Tuesday as the stock market bounces back following Black Monday 2020. But is the spark triggered by central bank stimulus and expected cuts to interest rates at next week’s policy meeting or is it a dead cat bounce. Where does the greenback go from here? Financial markets are trying to pare Monday’s steep losses. The Dow Jones, the S&P 500, […]

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March 10
2020

GBP/CAD Jumps Back Above 1.7811

The Great Britain pound versus the Canadian dollar currency pair gapped above the important long-time resistance area of 1.7811. Long-term perspective After confirming the weakened support area of 1.5936, the price started to move upward, passing two important levels, 1.6413 and 1.6620, respectively and confirming 1.7811 as resistance. After that, it went into a consolidation phase that began to look very alike a symmetrical triangle but towards its end […]

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