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Day: July 6, 2020
July 62020
Chinese Yuan Strengthens As Investors Pour Into Stocks, Bank Lending Up
The Chinese yuan is strengthening against many of its currency competitors to start the trading week. But while some economic data are boosting the currency on Monday, reports that investors are pouring into the stock market at the state mediaâs direction is generating all the buzz. China Securities Journal, a state-owned publication, published a front-page editorial in which it encouraged everyone to buy stocks. According to the opinion piece, investors were […]
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July 62020
AUD/USD Preparing to Test the 0.7010 Level
The Australian dollar versus the United States dollar currency pair is getting very close to the 0.7010 level. Do the bulls still have enough traction to continue? Long-term perspective The depreciation that started from the 0.7019 high, after the major 0.7010 level was confirmed as resistance, extended until the 0.5701 low. From there a strong rally commenced, one that confirmed the double support made possible by the descending trend and the 0.6386 […]
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