Day: August 24, 2020

August 24
2020

NZ Dollar Firm amid Positive Market Sentiment, Ignores Historic Drop of Retail Sales Values

The New Zealand dollar traded higher against the vast majority of most-traded currencies today, including other commodity currencies, which themselves were firm thanks to the positive market sentiment. Today’s macroeconomic data released in New Zealand was not very good but that did not prevent the kiwi from rising.   Investors were in a positive mood after Financial Times reported that the US government wants to bypass […]

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August 24
2020

USD/CNY Drops As PBoC Injects More Liquidity Into Economy

The Chinese yuan is enjoying another session of modest gains to start the trading week, with much of the strength coming at the expense of the US dollar. The yuan’s ascent on Monday is being driven primarily on the central bank injecting more liquidity into the financial system. Could the yuan test 6.8 next? The currency’s performance may hinge on US-China trade talks as it will be quiet on the data front this week. On Monday, the People’s […]

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August 24
2020

Bears Joining Forces on AUD/USD from 0.7275 High?

The Australian versus the US dollar currency pair seems to be making appreciation attempts in vain, as each of them is immediately met by a decisive retracement. Long-term perspective The rally from the 0.5701 low managed to extend until the 0.7275 high. However, as can be seen on the chart, the latter part of the ascending trend is losing steam. This lack of bullish determination is pointed out by the behavior that came after the piercing of the important […]

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