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Day: May 21, 2020
May 212020
Euro Rallies on Upbeat Euro Area PMIs, Falls on Strong US PMIs
The euro today rallied higher against the US dollar earlier today lifted by positive PMI reports from across the euro area released by Markit Economics. The EUR/USD currency pair later fell after the release of positive PMI data from the US amid rising Sino-US tensions. The EUR/USD currency pair today rallied to a high of 1.1008 in the mid-European session before crashing to a low of 1.0937 in the American session but was off these […]
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May 212020
US Dollar Flat As Initial Jobless Claims Show Steady Decline
The US dollar is trading flat on Thursday as the number of Americans filing for unemployment benefits continues its downward pattern, suggesting the job-loss trend peaked at the end of March. US financial markets were flat across the board, so there was not a huge push into the traditional safe-haven asset toward the end of the trading week. According to the Department of Labor, the initial jobless claims hit 2.438 million for the week ending May 16, […]
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May 212020
Price Sent by the Bears at 1.7000 on GBP/CAD
The Great Britain pound versus the Canadian dollar currency pair is at the 1.7000 psychological level. Is there a chance for the bulls to stop the bears in their tracks? Long-term perspective The rally that started from the 1.6542 low, after the price stalled from the 1.8051 peak, ended as a consolidative phase limited by the 1.7705 resistance and the 1.7285 support. But after the attempts to conquer the 1.7567 level failed altogether, as the bullish efforts were hindered by the 1.7705 […]
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