Day: August 17, 2020

August 17
2020

Chinese Yuan Gains As PBoC Pumps More Liquidity Into System

The Chinese yuan is continuing its gains against the US dollar to kick off the trading week. The yuan’s strength was buoyed by the central bank pumping more liquidity into the system and leaving interest rates unchanged for the fourth consecutive month. After breaking below the seven against the greenback, the yuan has been steadily testing 6.9. How much better can it get for the currency? On Monday, the People’s Bank of China (PBoC) […]

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August 17
2020

Bulls Able to Take Out 0.7243 Peak on AUD/USD?

The Australian versus the United States dollar currency pair seems to have lost its steam. Is that really so, or are the bulls setting up a masterplan? Long-term perspective The appreciation from the 0.5701 low managed to etch the 0.7243 high. In this endeavor, important resistance levels were conquered, including 0.7010, which allowed a strong movement towards 0.7191. However, to be noted is that the supportive trendline has been […]

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