Day: July 2, 2020

July 2
2020

Indian Rupee Settles at Three-Month High on Foreign Inflows, Vaccine Hopes

The Indian rupee is settling at its best level against the US dollar in three months as foreign inflows and vaccine hopes elevated the currency. The rupee has been Asia’s worst-performing currency this year, driven primarily by the coronavirus pandemic and volatility in global financial markets. Could analysts’ forecasts of further appreciation in the second half of 2020 come true? Because the US and other major stock markets have relatively stabilized in recent weeks, […]

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July 2
2020

US Dollar Stalls As Economy Creates 4.8 Million Jobs in June, Factory Orders Surge

The US dollar is stalling against many of its G10 currency rivals on Thursday after a strong and better-than-expected June jobs report. The stellar labor reading sparked a rally in the stock market, raising the risk tolerance of traders in equities. After the last couple of weeks of investors being spooked by a resurgence in coronavirus cases, the millions of new jobs suspended these fears for now. According to the Bureau of Labor Statistics (BLS), the US economy created 4.8 […]

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July 2
2020

Bulls on GBP/CAD Trying Their Best from 1.6800

The Great Britain pound versus the Canadian dollar currency pair seems not to be willing to go beneath 1.6724. Can the bulls put the double bottom formation to their use? Long-term perspective The depreciation that started after the third unsuccessful bullish attempt to go beyond the firm 1.7567 resistance level back in May extended a hair away from the solid support of 1.6724. To be more exact, the 1.6800 psychological level — not […]

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