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Day: March 31, 2020
March 312020
Euro Falls Against US Dollar Due to Quarterly/End-Month Outflows
The euro today fell against the US dollar earlier in the session and was on track to book a loss for the second straight session as the greenback rebounded. The EUR/USD currency pair sold off amid end of month/quarter outflows in favour of the dollar, which could see the pair close lower for the month. The EUR/USD currency pair today fell from an opening high of 1.1043 to a low of 1.0926 but had recovered most of its losses at the time of writing. Most […]
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March 312020
Chinese Yuan Jumps on Surprising Manufacturing Growth in March
The Chinese yuan is rallying against many currency competitors on Tuesday as the worldâs second-largest economy surprised global financial markets by reporting manufacturing growth in March. The yuan is also benefiting from additional easing efforts by the Peopleâs Bank of China (PBoC). According to the National Bureau of Statistics (NBS), the manufacturing purchasing managersâ index (PMI) surged from 35.7 in February to 52 in March. This beat market expectations of a 45 reading and is […]
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March 312020
AUD/JPY at the 67.03 Resistance
The Australian dollar versus the Japanese Yen currency pair is being given a test by the 67.03 level. Long-term perspective The confirmation of the 76.01 level by the bears started a downwards movement that extended to as low as 59.87. But as the bears overextended, by departing too much and too fast from the important support of 64.12, the bulls saw the opportunity and sent the price back above it. After that, the buyers managed to bring the price to the next resistance area, […]
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