Day: July 3, 2020

July 3
2020

Canadian Dollar Flat As Oil Slumps, Manufacturing Rebounds

The Canadian dollar is trading flat against its G10 currency rivals at the end of the holiday-shortened trading week. The loonie has been gaining against several of its counterparts over the last week, despite an influx of disappointing economic data. With energy prices firmly rebounding and the investors selling the US dollar, could the Canadian dollar have a strong second half? On Friday, the IHS Markit manufacturing purchasing managers’ index climbed to 47.8 […]

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July 3
2020

Aussie Beats Rivals with Help from Domestic & Chinese Economic Reports

The Australian dollar rose today. In fact, it was the strongest among most-traded currencies on the Forex market. The Aussie got a boost from positive macroeconomic data, both domestic and Chinese. The Australian Bureau of Statistics reported that retail sales climbed by 16.9% in May on a seasonally adjusted basis. Experts were anticipating the same 16.3% jump as in the previous month. The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index rose from […]

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July 3
2020

Inverted Head and Shoulders on USD/JPY from 108.05?

The United States dollar versus the Japanese yen currency pair, at first glance, seems to be in bullish hands. But is it so? Long-term perspective The fall that started from the 109.85 high extended, in a primary phase, until the 106.57 firm level, being rejected by its supportive role. However, the bears continued pressuring the price, thus drawing another leg down and etching the 106.07 low. Since 106.07 is very […]

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