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Day: August 6, 2020
August 62020
Euro Fails to Hold On to New 2-Year Highs Hit Against the Dollar
The euro today traded lower against the US dollar after hitting new 2-year highs last seen in May 2018 earlier in the session to trade almost flat for the session. The EUR/USD currency pair broke above the crucial 1.1900 level but could not stay above the level and fell back as the bears took control of the price action. The EUR/USD currency pair today spiked to a high of 1.1915 before reversing and falling to a low of 1.1818 […]
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August 62020
British Pound Rises As BoE Leaves Interest Rates, QE Unchanged
The British pound is rising against many of its currency rivals on Thursday after the central bank left interest rates and its aggressive asset-buying program unchanged. But while the decision to hold things steady was widely expected, many analysts are combing through the Bank of England (BoE) headâs remarks that subzero interest rates are in the institutionâs âtoolbox.â During the August policy meeting on Thursday, the BoE voted unanimously […]
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August 62020
US Dollar Flat As Initial Jobless Claims Fall to Lowest Level of Pandemic
The US dollar is trading relatively flat against its G10 currency counterparts after the US government reported that initial jobless claims declined to their lowest levels of the COVID-19 pandemic. The greenback has been trading quietly ahead of the July jobs report on Friday. The broader financial market, except the precious metals, was also subdued toward the end of the trading week. According to the Department of Labor, the number of Americans filing for first-time […]
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August 62020
Bulls on GBP/CAD Stopped by the Same 1.7565 Resistance Level?
The Great Britain pound versus the Canadian dollar currency pair dropped after a new attempt to conquer 1.7567 seems to have failed. Long-term perspective The rally from the 1.6542 low, after the 1.6724 level was confirmed as support back in March 2020, managed to extend until the 1.7567 resistance level. But out of the three attempts to overcome the level, none succeeded, as the bulls were only able to stretch the price until the 1.7705 intermediary […]
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