Day: July 15, 2020

July 15
2020

Chinese Yuan Strengthens After Bullish Goldman Sachs Forecast, Trade Data

The Chinese yuan is strengthening against multiple currency counterparts midweek following a bullish forecast by a Wall Street titan. Trade data also came in better than expected on Wednesday, leaving analysts to surmise that the economic rebound is running full steam ahead. The real test, however, will be later this week when several crucial numbers come out, including the gross domestic product. The Chinese yuan captured […]

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July 15
2020

Progress in COVID-19 Vaccine Development Drives Yen Higher vs. Safe Peers, BoJ Stands Pat

The Japanese yen traded flat or little lower versus the majority of other most-traded currencies today but gained on other safe currencies, like the US dollar and the Swiss franc. The main event in Japan today was the monetary policy announcement from the Bank of Japan. One of the major pieces of news today was the promising results from the COVID-19 vaccine developed by the biotechnology company Moderna together with the US National Institutes of Health. The vaccine […]

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July 15
2020

GBP/CAD Still Going for 1.7285

The Great Britain pound versus the Canadian dollar currency pair looks to be determined to go to higher prices. Does it have a chance or the bears are preparing their next movement? Long-term perspective The depreciation that started after the three failed attempts to conquer the solid resistance level of 1.7567 extended a hair away from the 1.6724 firm support area. In the process, a descending trend — highlighted by the descending line — took shape, which […]

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