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Day: April 29, 2020
April 292020
US Dollar Plunges As Federal Reserve Warns of More Economic Pain in Q2
The US dollar is maintaining its downward trend from late last week as the greenback slumped on new economic data and a bearish Federal Reserve. Despite being one of the bright spots in chaotic global financial markets, the central bank has tried to pour cold water on the greenback, and it is finding success in suppressing its ascent in the international economy. On Wednesday, the Federal Open Market Committee (FOMC) agreed to leave the target range […]
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April 292020
Euro Hits Daily Highs on Fed Rate Decision and Mixed Eurozone Data
The euro today rallied to new daily highs against the US dollar following the FOMC rate decision, which was in line with analysts consensus estimates. The EUR/USD currency pair today alternated between gains and losses driven by mixed fundamental releases from across the eurozone. The EUR/USD currency pair today rallied from an opening low of 1.0830 to a high of 1.0881 after the Fed’s decision and was trading near these highs at the time […]
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April 292020
Canadian Dollar Continues April Comeback As Crude Rally Lifts Loonie
The Canadian dollar is staging its late-April comeback against several of its G10 currency rivals. The loonie, which has been battered throughout much of the year, continued its rally midweek as the double-digit gains in crude oil prices lifted the currency. Could the Canadian dollar continue its upward trend next month? Canada has endured a two-pronged financial crisis that has paralyzed the Great White North: the coronavirus pandemic […]
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April 292020
Australian Dollar Rallies on CPI, Trims Gains Later
The Australian dollar rallied today on a positive inflation report but has trimmed its gains by now, erasing them outright against some rivals. The New Zealand dollar managed to rise against its Australian counterpart but has erased its gains by now as well. The Australian Bureau of Statistics reported that the Consumer Price Index rose in the March quarter from the previous three months. That was a slowdown from the previous […]
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April 292020
AUD/NZD May Have Conquered the 1.0689 Level
The Australian dollar versus the New Zealand dollar currency pair managed to get above the important old weekly support of 1.0689. Could the bears have anything prepared? Long-term perspective The rally that started from the low of 0.9993, after the weekly support of 1.0037 was confirmed, managed to evolve to an extent that brought the price above the trendline that starts from the 1.0865 high and also above the 1.0689 old weekly support. Because […]
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