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Day: April 17, 2020
April 172020
Euro Rallies on Reports of COVID-19 Cure and In-Line Eurozone CPI
The euro today rallied higher against the US dollar driven by bullish investor sentiment amid hopes that a cure for the coronavirus was on the horizon. The EUR/USD currency pair initially fell as the greenback rallied before changing course and surging higher as risk-appetite improved. The EUR/USD currency pair today fell to a low of 1.0812 in the early European session before rallying to a high of 1.0892 in the American session but was off these highs at the time of writing. […]
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April 172020
Chinese Yuan Mixed As Economy Contracts 6.8% in Q1, Retail Sales Crash
The Chinese yuan is mixed against its currency competitors to finish the trading week as investors weigh Chinaâs near-term economic recovery. With the latest bearish numbers suggesting Beijingâs COVID-19 devastation, analysts are hoping that the worst is over and that the nationâs reboot will lead to better results. According to the National Bureau of Statistics (NBS), the gross domestic product (GDP) plummeted 6.8% in the first quarter, worse than the market […]
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