Day: August 20, 2020

August 20
2020

Euro Seesaws Against the Dollar on Eurozone and US Macro Data

The euro today seesawed between losses and gains against the US dollar following yesterday’s massive drop after the release of the FOMC meeting minutes. The EUR/USD traded in a wide range today marked by declines and rallies as the single currency remained mainly at the greenback’s mercy after yesterday’s resurgence. The EUR/USD currency pair today fell from a high of 1.1868 in the early European market to a low of 1.1802 in the initial American session but had recouped its […]

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August 20
2020

US Dollar Rises As Weekly Jobless Claims Climb Back Above One Million

The US dollar is recording modest gains on Thursday after the number of Americans filing for first-time unemployment benefits moved back above the one million mark. The greenback is looking to advance for two consecutive sessions as the safe-haven currency has cratered 7% since May. Where is the buck headed, and are jobless claims on an upward trend? According to the Department of Labor, initial jobless claims came in at 1.106 million in the week ending August […]

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August 20
2020

GBP/CAD Has Trouble Rising from 1.7285

The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time making new gains. Are the bears that determined? Long-term perspective The rally from the 1.6542 low got stopped in its tracks by the firm 1.7567 resistance level. As a result, the price began a depreciation phase, one that brought it at the 1.6724 support. From the 1.6769 low, the bulls started a rally that looked pretty promising. […]

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