Day: April 3, 2020

April 3
2020

US Dollar Mixed As Coronavirus Slaughters 701k Jobs in March

The US dollar is mixed against several major currency competitors at the end of the trading week, driven by a grim portrait of the American labor market last month. Although it was a devastating jobs report, experts say that the worst is still to come as more states institute stay-at-home orders. Will the buck remain the top currency in today’s chaotic financial market? According to the Bureau of Labor Statistics (BLS), the US economy lost […]

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April 3
2020

Canadian Dollar Rallies on Higher Oil Prices and Weak US Jobs Data

The Canadian dollar today rallied against its US counterpart as oil prices pressed higher for the third consecutive session boosting the commodity-linked loonie. The USD/CAD currency pair fell from its intra-day highs as the loonie strengthened amid rumours that OPEC and its allies would agree to drastic oil supply cuts to boost oil prices. The USD/CAD currency pair today fell from a high of 1.4224 in the early European session to a low […]

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April 3
2020

Bulls Back on USD/JPY from 107.06

The United States dollar versus the Japanese yen currency pair seems to be delaying further advancement towards the south. Is this really a delay or the bulls took control? Long-term perspective The depreciation that started from the high of 111.70 almost touched the technical support level of 106.79, stopping in the psychological 107.00. Although the fact that the price got under the area defined by the levels of 108.85 and 108.13, respectively, was welcomed by the bears, the bulls […]

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April 3
2020

Pound Falls on Weak UK Services PMI Report as Dollar Surges

The Sterling pound today fell against the US dollar as investors reacted to weak service PMI released by Markit Economics in the early London session. The GBP/USD came under intense selling pressure as the greenback pressed higher despite yesterday’s record high US initial jobless claims numbers. The GBP/USD currency pair today fell from a high of 1.2395 during the late Asian session to a low of 1.2262 in the early European session and was headed […]

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