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Day: April 14, 2020
April 142020
Euro Rallies as Some EU Countries Reopen Businesses and Schools
The euro today rallied higher against the US dollar as some European countries announced new measures to ease some of the restrictions put in place to fight the coronavirus. The EUR/USD currency pair reversed yesterday’s downtrend and rallied higher today driven by investor optimism about a return to normalcy across the eurozone. The currency pair rallied from a low of 1.0915 in the early European session to a high of 1.0983 in the American session but was off these highs […]
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April 142020
Chinese Yuan Flat As Imports, Exports Beat Bearish Estimates
The Chinese yuan is flat on Tuesday after new trade data came in better than what the experts had projected. A couple of economic reports from China are highlighting that the situation is not as grim as what many investors first thought. Is the economic fallout from the coronavirus pandemic proving to be a case of hope for the best and expect the worst? Last month, imports fell 0.9% year-on-year to $165.25 billion, led […]
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April 142020
Australian Business Confidence at Record Low, Aussie Struggles to Keep Gains
The Australian dollar was rising at the start of Tuesday’s session but has reversed movement and is now trading below the opening level against most major currencies, though currently, it has managed to rise against the US dollar a bit. The Aussie performed better against its commodity-linked counterparts. According to the Business Confidence Survey released by National Australia Bank today, the confidence index dropped to the lowest level on record. The report said: […]
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April 142020
Bulls Tired at 0.8918 on AUD/CAD?
The Australian dollar versus the Canadian dollar currency pair seems to have some trouble passing the 0.8918 level. Are the bears planning something? Long-term perspective The appreciation that started at the low of 0.8062 managed to find its way to the old support area defined by 0.8918. The rally from 0.8472 succeed in passing the double resistance made possible by the level of 0.8692 and the trendline that starts from the high of 0.9149, but as it approached the old […]
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April 142020
Australian Dollar Forecast for April 13-17, 2020
The Australian dollar was demonstrating an impressive performance so far in April. But can the currency maintain its upward momentum this week? Market analysts have doubts about that. The Aussie looked surprisingly resilient considering that the coronavirus pandemic rages on, making safe options more appealing to investors than riskier ones. But the currency of Australia managed to log sharp gains last week despite that. Experts […]
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