Day: April 7, 2020

April 7
2020

Euro Rallies on Hopes That Europe Is Flattening the COVID-19 Curve

The euro today rallied against the US dollar buoyed by the latter’s decline as investors favoured riskier currencies including the single currency. The EUR/USD currency pair hit new 3-day highs ending the downtrend that was in place for the past six sessions. The EUR/USD currency pair today rallied from an opening low of 1.0790 to a high of 1.0925 in the American session but had pulled back slightly from its daily highs at the time of writing. […]

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April 7
2020

Pound Rallies Despite Record COVID-19 Deaths and Johnson in ICU

The Sterling pound today rallied higher against the US dollar despite the fact that the UK Prime Minister Boris Johnson being hospitalised in ICU. The GBP/USD currency pair posted gains as buyers stepped in capitalising on the greenback’s fall from recent highs. The GBP/USD currency pair today rallied from an opening low of 1.2217 in the Asian session to a high of 1.2384 in the mid-London session but was off these highs at the time of writing. The risk-off […]

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April 7
2020

Swiss Franc Slips As SNB’s Total Sight Deposits Surge Again

The Swiss franc is sliding against the US dollar and the euro on Tuesday as the central bank’s sight deposit holdings surged by their second-highest level in 12 months. For more than a year, Switzerland has been actively trying to depreciate the franc’s value as investors continue to pour into the traditional safe-haven asset, even as financial markets rebound. The Swiss franc has significantly appreciated throughout the turbulence, affecting the manufacturing sector and overall exporting industry. […]

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April 7
2020

Bulls Still Aiming for 1.7811 on GBP/CAD?

The Great Britain pound versus the Canadian dollar currency pair sits in an interesting zone. Is this area a good starting ground for the bulls, or is it already too late for them? Long-term perspective The appreciation that started at the 1.6620 level extended all the way to the long-time resistance area of 1.7811. But it retraced from there, slipping under the intermediary level of 1.7499. The price is now sitting just above the possible […]

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