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Day: May 20, 2020
May 202020
Euro Rallies on Bullish Sentiment, Mixed Eurozone Inflation Data
The euro today rallied higher against the US dollar driven by positive investor sentiment even as the greenback registered losses across the board. The EUR/USD currency pair rallied higher ignoring the weak eurozone inflation data released earlier today as investors bid up riskier assets. The EUR/USD currency pair today rallied from an opening low of 1.0926 to a high of 1.0998 in the early American session and was trading near these highs at the time […]
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May 202020
Canadian Dollar Rallies on High Oil Prices and Mixed Macro Data
The Canadian dollar today rallied higher against its US peer driven by high crude oil prices before the release of multiple fundamental reports from the Canadian docket. The USD/CAD currency pair today fell as the loonie rallied higher against the much weaker greenback amid a risk-on market environment as investors remain hopeful about the future. The USD/CAD currency pair today fell from a high of 1.3950 in the Asian session to a low of 1.3868 […]
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May 202020
British Pound Mixed on Sliding Inflation, First-Ever Negative-Yielding Bond
The British pound is trading mixed against its G10 currency competitors midweek as investors comb through the influx of April inflation data. For the first time in the nationâs history, the United Kingdom sold a negative-yielding bond, meaning that the government is being paid to borrow. In the post-Coronavirus economy, this might be the new norm for a myriad of nations around the world. According to the Office for National Statistics (ONS), the consumer price index (CPI) tumbled […]
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May 202020
AUD/NZD at the Important Support of 1.0707
The Australian dollar versus the New Zealand dollar currency pair is about to test the major support of 1.0707. Is there any way to grasp the direction? Long-term perspective The rally that began from the low of 1.0476, after the market confirmed the pivotal 1.0013 support, extended all the way to the 1.0830 high. However, reaching the 1.0830 level involved passing the 1.0707 mark. As a consequence, the bulls could have felt confident that they […]
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