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Day: May 1, 2020
May 12020
Chinese Yuan Slides to One-Month Low on Manufacturing, Trump Trade Threats
The Chinese yuan fell to a one-month low against the US dollar to close out the trading week, driven mostly by sluggish manufacturing and renewed trade threats by the White House. Now that China has hit the reboot button on the economy, could Beijing contend with another trade spat with the US? Chinaâs manufacturing industry has been the hardest hit in the domestic market due to slowing export demand. Despite factories resuming production […]
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May 12020
Reinsurance Companies
Reinsurance organizations exist so they can perform hazard the executives administrations. This is on the grounds that insurance agencies regularly protect a bit or either the whole aggregate of their protection body of evidence against misfortune. This is a normal technique to help decrease misfortune in light of the fact that lost premium or as […]
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May 12020
Euro Rallies Despite Gloomy News From Across the Euro Area
The euro today rallied higher against the US dollar despite the mostly negative news coming out of the eurozone earlier today amid empty economic dockets. The EUR/USD currency pair inched higher as European countries moved closer to reopening their economies despite the significant risk of a second wave of COVID-19 infections. The EUR/USD currency pair today rallied from a low of 1.0935 extending yesterday’s massive gains to reach a high of 1.0990 and was […]
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May 12020
The Bears Try to Confirm 107.05 on USD/JPY
The US dollar versus the Japanese yen currency pair seems to be willing to continue the decline. Do the bulls still have any options left? Long-term perspective The decline that started from the high of 111.70 found support at 107.05, which is the technical correspondent of the 107.00 psychological level. From there, an appreciation commenced, but it did not manage to conquer the 108.85 level, thus, confirming it as a resistance. This lead […]
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May 12020
Great Britain Pound Soft After Economic Data, PM Statement
The Great Britain pound rallied against the very weak commodity currencies but fell against majors today. The sterling was under pressure from extremely poor domestic macroeconomic data and Brexit worries but had some support from hopes for an end of the quarantine period. The Nationwide House Price Index rose 0.7% in April on a seasonally adjusted basis. The positive result surprised experts as they were counting on a drop of 0.3%. Furthermore, […]
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May 12020
Australian Dollar Weakest After Manufacturing PMI Logs Record Drop
The Australian dollar was the weakest currency on the Forex market today, falling against all other most-traded rivals, even its commodity counterparts. The Aussie has started to decline yesterday and accelerated the drop after the manufacturing index demonstrated a record slump. The Australian Industry Group Australian Performance of Manufacturing Index plunged from 53.7 in March to 35.8 in April. The extremely low figure indicates that the industry was contracting with the fastest pace […]
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May 12020
Yen Gains on Commodity Currencies, Reverses Losses vs. Others
Commodity currencies were generally weak today, allowing the Japanese yen to gain on them. The yen also rose versus the Great Britain pound. Initially, the Japanese currency was flat against the US dollar and fell versus the euro and the Swiss franc but currently the yen rebounded, rising against the dollar and the euro while being about flat against the franc. Japan released a bunch of macroeconomic indicators today, and unsurprisingly, they were rather […]
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