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Day: April 13, 2020
April 132020
Chinese Yuan Weakens As Bank Loans Top $1 Trillion in Q1
The Chinese yuan is weakening against its major currency competitors to kick off the trading week. The yuan is trending downward on foreign exchange markets on new data that shows the central bank pumped $1.01 trillion into the worldâs second-largest economy in the first quarter. The Peopleâs Bank of China (PBoC) also generated headlines for raising its stake in the nationâs largest mortgage lender. Is the stimulus peanuts, or will Beijing place […]
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April 132020
AUD/USD Back Above 0.6313
The Australian dollar versus the US dollar currency pair succeeded in getting back above the important level of 0.6313. Could the bears be just around the corner? Long-term perspective After the retracement form the 0.5911 level, the price went past the 0.6015 level, extending two thirds between 0.6015 and 0.6313. After that, a correction came into being, one that found support at 0.6015. This confirmation led to an appreciation that managed, […]
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