Day: May 14, 2020

May 14
2020

Canadian Dollar Drops Against US Peer, Recovers on Poloz’s Speech

The Canadian dollar today lost ground against its US peer as the greenback posted gains boosted by President Donald Trump’s comments about a strong dollar. The USD/CAD rallied higher earlier today before giving up all its gains later in the session as the loonie recovered on hawkish comments from the Bank of Canada Governor. The USD/CAD currency pair today rallied to a high of 1.4140 in the early American session before falling to trade near […]

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May 14
2020

US Dollar Jumps on Initial Jobless Claims Hitting Two-Month Low

The US dollar is strengthening on Thursday after the US government reported its lowest number of Americans filing for unemployment benefits since the COVID-19 crisis started two months ago. The news elevated the greenback, which also surged on weakening equities that have prompted global investors to pour into the traditional safe-haven asset this week. According to the Department of Labor, initial jobless claims came in at 2.981 million for the week ending May […]

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May 14
2020

Euro Falls on Risk-Off Market Sentiment Amid Global Recession Fears

The euro today fell against the US dollar driven by the risk-off market sentiment dominated by fears of a looming global recession in the aftermath of the COVID-19 pandemic. The EUR/USD currency pair extended yesterday’s decline that was triggered by the Fed Chair Jerome Powell’s dismissal of negative interest rates in the US. The EUR/USD currency pair today fell from an opening high of 1.0824 in the Asian session to a low of 1.0789 in the early European session and was near these […]

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May 14
2020

AUD/NZD Again Above 1.0689

The Australian dollar versus the New Zealand dollar currency pair climbed above an important support level. Will it be able to take this chance to further appreciate? Long-term perspective The surge that started from the weekly support of 1.0037 managed to cross the double resistance crafted by the descending trendline starting from the  1.0865 high and the old weekly support of 1.0361. After that, the price searched further for a support level to continue […]

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