The pound today traded sideways against the US dollar extending its sideways trading range for the third day in a row as investors took a break following its recent massive rally. The GBP/USD currency pair rangebound trading action was also affected by the surge in UK coronavirus deaths as deaths jumped 31% to 563, hitting a cumulative total of 2,352. The GBP/USD currency pair today traded with a range marked by a low of 1.2331 and a high […]
Read moreThe Japanese yen is strengthening against different currency competitors midweek, buoyed by a plethora of economic data and outlooks that came in much better than initially anticipated. With the federal government set to unveil a comprehensive stimulus package to rescue the worldâs third-largest economy from the fallout of the coronavirus pandemic, the yenâs safe-haven appeal may stay intact. According to official state statistics, retail sales jumped 0.6% in February, down from the 1.5% […]
Read moreThe Canadian dollar is slipping against its currency rivals midweek as new data is beginning to highlight how much damage the coronavirus is impacting the Great White North. Manufacturing contracted, the economy already showed signs of slowing down before the COVID-19 crisis, and producer prices slumped â this could be the start of even more negative economic readings in the weeks to come. The IHS Markit manufacturing purchasing managersâ index […]
Read moreThe Australian dollar versus the New Zealand dollar currency pair is approaching the important weekly level of 1.0361. Long-term perspective After confirming the level of 1.0837, the price started to decline. The first strong pullback occurred around the weekly support of 1.0037. But until here, the pierce passed important areas, such as the weekly support of 1.0361. The reconfirmation of the 1.0037 support — which printed the low of 0.9993 — brought about a rally that conquered the first […]
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