Day: April 9, 2020

April 9
2020

Euro Surges After Fed Announces New $2.3 Billion Stimulus Package

The euro today rallied higher against the US dollar after the US Federal Reserve announced a $2.3 trillion stimulus package to aid small businesses. The EUR/USD currency pair hit a new weekly high boosted by the risk-on market mood as global equities rallied higher. The EUR/USD currency pair today rallied from a low of 1.0841 in the late Asian session to a high of 1.0951 in the American session and was trading near these highs at the time […]

Read more
April 9
2020

Canadian Dollar Mixed As COVID-19 Kills One Million Jobs in March

The Canadian dollar is mixed on Friday as the federal government released the worst jobs report in the nation’s history. Due to the coronavirus pandemic shutting down the country from coast to coast, the economy shed more than one million jobs, significantly raising the unemployment rate in March. And this is just the beginning, experts warn. According to Statistics Canada, the economy lost 1.011 million jobs last month, higher than the market forecast of 350,000. […]

Read more
April 9
2020

US Dollar Gains As Jobless Claims Top 6 Million, Fed Unveils Main Street Stimulus

The US dollar is gaining against its key currency rivals at the end of the holiday-shortened trading week. The greenback is rising, despite the federal government reporting more than six million jobless claims that were more than what analysts had anticipated. The buck is also climbing on the Federal Reserve announcing a $2.3 trillion stimulus program to support Main Street lending. According to the Department of Labor, initial jobless claims […]

Read more
April 9
2020

AUD/NZD Facing the Weekly Resistance of 1.0361

The Australian dollar versus the New Zealand dollar currency pair is at the old weekly support of 1.0361. Will the bulls conquer it again? Long-term perspective The descending movement that started after 1.0837 was confirmed as resistance extended to as low as 0.9993, but, after confirming the weekly support of 1.0037, a strong rally began, one that now puts to the test the double resistance made possible by the 1.0361 level and the trendline that starts […]

Read more