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Day: May 5, 2020
May 52020
Swiss Franc Weakens As Manufacturing Slumps, Capped by SNB Intervention
The Swiss franc is weakening on Tuesday as the latest manufacturing figures highlighted an industry that is in a sharp decline. The franc’s slide was exacerbated by the central bankâs foreign exchange interventions to prevent currency appreciation. With Switzerland reopening in the aftermath of the coronavirus pandemic, could the economy rebound in the second half of 2020 and elevate the franc even more? The procure.ch manufacturing purchasing managersâ index (PMI) declined to 40.7 in April, down from 43.7 in the previous […]
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May 52020
US Dollar Weakens As Treasury to Borrow Record $3 Trillion in Q2
The US dollar is weakening against some of its G10 currency counterparts on Tuesday as the federal government announced that it would borrow $3 trillion in the second quarter. The US government has been going on a spending spree to contain the coronavirus pandemicâs economic fallout, making Washington poised for a $3.8 trillion deficit for the fiscal year 2020. The greenback is also getting a hit on disappointing economic data that continues to highlight the outbreakâs […]
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May 52020
GBP/CAD, Retesting the 1.7500 Level?
The Great Britain pound versus the Canadian dollar seems to be a little undecided. Long-term perspective After confirming the important 1.6620 level, the price extended until the long-time resistance area of 1.7811. In doing so, it also pierced the intermediary level of 1.7499. But when meeting the resistance of 1.7811, the price retreated, falling around the triple support area defined by the two trendlines and the 1.7160 level. From the triple support, the bulls attempted, yet […]
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