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Day: August 4, 2020
August 42020
Euro Rallies Then Falls Against the US Dollar to Trade Flat for the Day
The euro today fell against the US dollar early in the European session despite the release of upbeat euro area producer price index data as the bears controlled the price action. The EUR/USD currency pair later rallied during the American session as the dollar retreated against its peers amid falling US Treasury yields to trade flat for the day. The EUR/USD currency pair today rallied to a high of 1.1806 in the European session before falling to a low […]
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August 42020
South Korean Won Weakens on Exports, Manufacturing Data
The South Korean won is weakening against some of its major currency competitors on Tuesday as macroeconomic data came into focus. The won has had a disappointing year so far, slumping in the aftermath of the coronavirus pandemic and disappointing economic figures. Is a rebound in sight amid its first recession in nearly 20 years? For the seventh consecutive month, the IHS Markit manufacturing purchasing managersâ index (PMI) contracted, although it jumped […]
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August 42020
Will the 1.3000 Support on GBP/USD Hold?
The Great Britain pound versus the US dollar currency pair seems to be in a mixed-mode. But is it really so? Long-term perspective After the rally that started from the 1.1409 low and the setback that limited further advancement beyond 1.2514, the price began an ascending trend which managed to print the 1.3175 high. It is important to be noted that the high finds itself beyond the resistance trendline of the ascending channel. […]
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