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Day: May 11, 2020
May 112020
Chinese Yuan Slumps Despite Surprising Gain in Auto Sales
The Chinese yuan is slumping to kick off the trading week, despite a surprise gain in new motor vehicle sales last month. Investors are potentially keeping an eye on internal financing struggles and concerns over a renewed trade war between the two largest economies. Despite the coronavirus pandemic shutting down China, the yuan has only recorded modest losses against the US dollar. If the data improves, could the currency test […]
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May 112020
AUD/USD Above the 0.6500 Handle
The Australian dollar versus the US dollar currency pair is, yet again, above the 0.6500 psychological level. It’s the bulls that won, or is the bears that are preparing their final push? Long-term perspective After confirming the support level of 0.5511, the price started an upwards movement that, against the bearish odds, accomplished to pierce major resistances and establish them as support areas. And it looks like the 0.6500 psychological level […]
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