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Day: April 6, 2020
April 62020
Japanese Yen Weakens As Abe Unveils $1 Trillion Stimulus Package
The Japanese yen is losing against multiple currency pairs to start the trading week, prompted by Tokyo unveiling a massive $1 trillion stimulus package to curb the economic fallout from COVID-19. While Japan has refused to institute a nationwide lockdown, Prime Minister Japanese yen declared a state of emergency to prevent coronavirus infections â domestic cases have topped 4,000. Can the worldâs third-largest economy come out of the public health […]
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April 62020
Chinese Yuan Flat As PBoC Pumps $56 Billion Liquidity for SMEs
The Chinese yuan is trading relatively flat to kick off the holiday-shortened trading week. China continued to employ monetary policy measures to resuscitate the worldâs second-largest economy in the coronavirus fallout. One mechanism Beijing is utilizing to spur business activity is bank lending, offering credit to businesses â large and small. Will it be enough for companies to borrow and restart operations? The Peopleâs Bank of China (PBoC) recently announced it […]
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April 62020
Wedge Chart Pattern on AUD/USD Played Out?
The Australian dollar versus the United States dollar currency pair seems to have failed in any further appreciation attempts. Is this the entire story? Long-term perspective After confirming the resistance area defined by the 0.7055 and 0.7013 levels, the price began a depreciation that unleashed until the 0.5511 support level. From there, the price retraced above the 0.6015 level and extended two thirds away from the possible double resistance area made […]
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April 62020
Australian Dollar Forecast for April 6-10, 2020
The Australian dollar has experienced strong volatile moves lately. The currency tanked in the first half of March, recovered a bit in the second half only to move down again in April. While it is hard to predict price movements during such volatile time, let’s see what factors will be affecting the Aussie this week and how the currency can react to them. The week will start with somewhat less important […]
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