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Day: April 15, 2020
April 152020
Pound Falls Amid Speculation That COVID-19 Deaths Are Much Higher
The Sterling pound today fell against the much stronger US dollar amid fears that the global economy was sliding into a significant recession due to the coronavirus pandemic. The GBP/USD currency pair recouped some of its losses in the American session as the greenback gave up some of its gains, allowing riskier currencies to post gains. The GBP/USD currency pair today fell to a low of 1.2435 having opened the day’s session trading at an initial […]
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April 152020
Canadian Dollar Plunges As GDP Contracts 9% in March, BoC Unveils New QE
The Canadian dollar hit the pause button on its recent rally after the federal government released its gross domestic product (GDP) reading early for the first time ever. The loonie is slumping on news that economic activity suffered the biggest monthly decline in history. With falling energy prices and accommodating central bank, it could be a downward trend for the Canadian dollar in the near-term. According to Statistics Canadaâs flash reading, the economy […]
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April 152020
US Dollar Surges Despite Crashing Retail Sales, Industrial Output
The US dollar is surging against its G7 currency rivals, despite a plethora of disastrous economic reports. With global financial markets deep in the red midweek over concerns of the coronavirus pandemic, investors are pouring into the greenback for shelter. Could the US economy reverse these losses if the nation reopens next month? Or will the country endure a second wave and erase any potential gains? According to the Census Bureau, retail […]
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April 152020
Australian Consumer Sentiment Collapses, Aussie Reverses Gains
The Australian dollar declined against all other most-traded currencies today, including its riskier commodity-related counterparts. The possible reasons for the decline were the worsening market sentiment and bad domestic macroeconomic data. The Aussie was rising yesterday but halted its rally shortly after Wednesday’s Asian session started. After trading sideways for a short while, the currency started to move lower. While it does not look that the extremely […]
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April 152020
GBP/CAD Continues Aiming for 1.7811
The Great Britain pound versus the Canadian dollar currency pair does seem that it is hard to sell. Long-term perspective The appreciation from the 1.6620 level extended to the resistance area defined by the 1.7811 resistance level. The price then head towards the, now, triple support area made possible by the 1.7160 level, the ascending trendline, and the upper line of the descending channel, respectively. After the confirmation, the price had some trouble passing […]
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