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Day: July 9, 2020
July 92020
US Dollar Weakens As Initial Jobless Claims Fall to Four-Month Low
The US dollar is trading slightly lower against a myriad of G10 currency rivals on Thursday after the US government reported that the number of Americans filing for first-time unemployment benefits beat market forecasts. The greenback has been struggling in recent sessions as investors become more confident in the broader financial market and pour into riskier bets, despite the resurgence of confirmed coronavirus cases in the background. According to the Department of Labor, initial jobless claims […]
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July 92020
Bulls Testing the Descending Trendline on GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair seems to have been favored by the double bottom formation, spawning an appreciation that allows the bulls to test the trendline for weak points. Long-term perspective After the level of 1.7567 proved to be an unmountable resistance, the price began a very convinced descending movement. This brought the price under the ascending trendline and close to the major support level of 1.6724. From this area, the bulls got […]
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