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Day: April 16, 2020
April 162020
Loonie Sinks As Crude Oil Trades at 18-Year Lows Despite Supply Cuts
The Canadian dollar today extended its losing streak against the US dollar for the second day in a row despite yesterday’s hawkish rate decision by the Bank of Canada. The USD/CAD currency pair surged higher as the loonie remained under pressure due to falling crude oil prices despite recent output cust by OPEC+ and some US producers. The USD/CAD currency pair today rallied from a low of 1.4063 in the early American session to a high of 1.4182 […]
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April 162020
Euro Extends Decline Amid Fears of a Looming Recession in the EU
The euro today fell against the US dollar as market sentiment remained decisively risk-averse amid fears that the eurozone was facing an imminent recession. The EUR/USD currency pair fell for the second consecutive session despite the release of upbeat data from Germany and the euro area, which did little for the pair. The EUR/USD currency pair today fell from an opening high of 1.0907 to a low of 1.0817 in the American session and was near these lows […]
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April 162020
US Dollar Mixed As 22 Million Americans Lose Jobs in Four Weeks
The US dollar is mixed against its G7 currency rivals on Thursday after the US government reported a slightly worse-than-expected jobs report that brought the total number of Americans who lost their jobs to about 22 million. A flurry of other economic data weighed on the greenback and US equities, leaving everyone wondering just how long the coronavirus pandemic will affect the world’s largest economy. According to the Department of Labor, initial […]
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April 162020
Bulls on USD/JPY Not Confident Enough
The US dollar versus the Japanese yen currency pair seems to be willing to go towards the north. However, something keeps the bulls from making their next move. Long-term perspective The depreciation that started from the peak of 111.70 and after the 111.07 level was confirmed as resistance extended to just a little above to the 106.79 support level. From there, the bulls tried to regain 108.85, but their endeavor ended with another […]
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April 162020
Australian Dollar Falls, Ignoring Shockingly Good Employment Data, but Rebounds Later
The Australian dollar fell today, largely ignoring the shockingly good employment report. While the currency spiked immediately after the release, it retreated almost immediately. By now, though, the Aussie has managed to trim losses and even trades flat against a number of most-traded peers. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed people increased by 5,900 in March. Experts totally missed the mark with their forecasts of a big […]
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