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Day: July 30, 2020
July 302020
Euro Rallies to 2-Year Highs Against the Dollar on Weak US GDP
The euro today rallied to new 2-year highs against the US dollar driven by positive releases from across the eurozone combined with weak US GDP data. The EUR/USD currency pair today was boosted by upbeat German unemployment data as opposed to the rising jobless claims in the US, which dragged the greenback lower. The EUR/USD currency pair today rallied from a low of 1.1731 in the early European session to a high of 1.1844 in the American session […]
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July 302020
US Dollar Strengthens As Economy Enters Recession
The US dollar has snapped its losing streak and is making gains against its G10 currency rivals on Thursday. The greenback is finding support on the US government reporting better-than-expected initial jobless claims and GDP data in the second quarter. The buck, which has been on a downward trend over the last three months, is looking to reverse its losses as traders seek refuge in a safe-haven asset. According to the Department of Labor, the number […]
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July 302020
Bullish Determination Sent GBP/CAD Above 1.7285
The Great Britain pound versus the Canadian dollar currency pair printed a strong rally. Could the bears invalidate it? Long-term perspective After the three failed attempts to conquer the strict 1.7567 resistance level, the bulls let the bears do what they know best. As a result, the price got brought around the 1.6724 major support level, where the first bullish opposition towards the continuation of the fall noted the 1.6750 low. Even if […]
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