The euro today rallied to new daily highs against the US dollar early in the European session driven by positive investor sentiment before giving up its gains later. The EUR/USD fell back at a critical resistance level as sellers stepped in, and the greenback staged a comeback clawing back its losses. The EUR/USD currency pair today rallied from a low of 1.0809 to a high of 1.0888 before reversing and falling back to trade almost flat […]
Read moreThe Great Britain pound versus the Canadian dollar currency pair seems to try, yet again, to confirm the 1.7500? Long-term perspective The rise that started from the area of the major support of 1.6620, towards the end of March, touched the long-time 1.7811 resistance level. The decline that followed was stopped by the triple support zone made possible by both the ascending and descending trendlines, and the 1.7160 level, respectively. The appreciation that resulted etched the peak of 1.7700, […]
Read moreThe Swedish krona rallied against many of its major currency counterparts on Tuesday after the central bank left interest rates unchanged and maintained stimulus measures to reverse its worst economic slump since the Second World War. But policymakers assured markets that they would act if the financial crisis intensifies and additional monetary easing is needed to mitigate a severe downturn. Before this weekâs policy meetings by the Federal […]
Read moreThe Japanese yen was trading flat against some of its major rivals today but managed to gain on others. Hopes of a lift of the lockdown measures in various countries across the world and underwhelming domestic macroeconomic data were weighing on Japan’s currency but fears of a global economic recession that is going to follow the coronavirus pandemic and falling crude oil prices were boosting the yen. The Statistics Bureau of Japan reported that the unemployment […]
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